In 2026, China is poised to maintain steady and progressive economic growth. Accelerated transformation and upgrading in the manufacturing sector, alongside sustained improvement in residents’ consumption capacity and willingness, have driven a continued rise in total energy consumption and ongoing optimization of the energy consumption structure. Against the backdrop of rapid expansion in the new energy industry, the development of traditional energy sources faces significant challenges. According to SCI, consumption of natural gas and non-fossil energy may continue to increase, petroleum consumption is expected to remain relatively stable, and coal consumption may experience a slight decline. Looking ahead, China’s energy supply may become increasingly diversified as the supply of clean energy expands. Anchored by traditional energy sources, overall energy supply and demand are projected to remain balanced.

The year 2026 marks the beginning of the 15th Five-Year Plan period in China. Supported by multiple favorable factors, the energy and chemical industry is entering a critical phase characterized by structural opportunities and an evolving competitive landscape. Key drivers include the guidance of “anti-involution” policies, accelerated international overcapacity clearance, and steady recovery in export growth, all contributing to the industry advancement. Against this backdrop, the industry’s profitability is expected to improve gradually, while green and intelligent transformation will continue to accelerate, laying a solid foundation for enterprises to achieve high-quality development. As the 15th Five-Year Plan period represents the final stage for China to meet its carbon peak targets, the transition toward a low-carbon energy consumption structure will further accelerate, with the share of non-fossil energy consumption poised to rise significantly.

2026 China Refining Industry: Moderate Growth in Crude Oil Demand, with Chemical Feedstock Demand Recovery in the Spotlight - SCI
Crude Oil Market Outlook - Kpler

China LNG Imports 2026: The Next Stage of Evolution - SCI
Global LNG and European Gas Outlook for 2026 - Kpler

Oil: In 2025, China’s refining and chemical sectors saw structural shifts: crude output and processing volumes mounted up, but refined oil demand fell amid a growing supply-demand imbalance. Industry strategies now prioritize capacity optimization, weakening oil while boosting chemicals and green transformation. As new capacity expands, crude oil demand continues to rise, while refined fuel demand faces sustained pressure from new energy substitution. In contrast, naphtha demand from chemicals is growing steadily, accelerating industry restructuring.

2026 marks a pivotal phase of the 15th Five-Year Plan period. This seminar will track key developments, capacity rationalization, crude processing volume, crude import, and naphtha demand, etc. while interpreting policy and market trends to explore new pathways for China’s refining sector.

Gas:China remains a pivotal variable in the global LNG market. After a contraction in 2022 and a rebound in 2023, its LNG imports rose by 8% in 2024 before falling by 13% in 2025. The gas supply mix has undergone a structural shift, driven by higher domestic production and increased pipeline gas imports. Meanwhile, gas demand growth has moderated from its previous highs.

Will subdued LNG imports continue into 2026? How will the gas demand landscape evolve? Will importers recalibrate their strategies between LNG and alternative fuels? What might spot LNG imports look like under different scenarios?

Join us on February 11, 2026 and make sense of global, especially China’s oil and gas market trends.