Thriving Chinese Gas Market

The Chinese industrial gas market has been growing at a healthy rate for some time and it is believed that China could soon become the world's third largest industrial gas market if this growth is sustainable. This is quite possible: the Chinese market grew by 12% in 2005, reaching USD 2.3 billion in 2006 and it continued to grow in 2007 at a rate of around 10% to total gas revenues over USD 2.5 billion. This ensures that China is still in a dominant position in the wider North Pacific Rim market with a share of 23.3%, second only to Japan (60%). But in order for the Chinese gas market to achieve third position, it would have to overtake Germany which has remained steadily ahead with stable revenue rises and a value of approx.USD 3.6 billion in 2007. If the Chinese growth rates remain as strong, this might happen in a foreseeable future.