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2017-10-27 19:20:00

CHINA'S GAS CONSUMPTION UP

CHINA'S GAS CONSUMPTION UP

 

 

EIAGlobal natural gas consumption is expected to grow from 340 billion cubic feet per day (Bcf/d) in 2015 to 485 Bcf/d by 2040, primarily in countries in Asia and in the Middle East. China accounts for more than a quarter of all global natural gas consumption growth between 2015 and 2040.

The projected growth in natural gas consumption in China is driven by environmental policies, relative cost competiveness of natural gas in the industrial and transportation sectors, and relatively high economic growth.

China's environmental policies are designed to reduce air pollution and carbon emissions by promoting natural gas in the country's energy mix—replacing some coal and oil use with natural gas. In China's 13th Five-Year Plan and the latest Energy Production and Consumption Revolution Strategy (2016-30), the Chinese government set targets to increase the share of natural gas in the primary energy mix from 5.9% in 2015 to 10% by 2020 and 15% by 2030.

EIA projects China's natural gas consumption to grow from 19 Bcf/d in 2015 to 57 Bcf/d in 2040, surpassing all other countries except the United States. In the IEO2017 Reference case, U.S. natural gas consumption is projected to grow at a more modest rate, from 75 Bcf/d in 2015 to 88 Bcf/d in 2040, with the United States remaining the world's largest natural gas consumer.

China's domestic natural gas production reached 13 Bcf/d in 2016, accounting for 64% of China's total natural gas supply. The IEO2017 Reference Case projects that China's domestic natural gas production will reach 39 Bcf/d by 2040, driven primarily by the development of shale gas resources. EIA estimates that China holds the largest reserves of technically recoverable shale gas in the world, and China was among the first countries outside of North America to develop its shale resources.

The IEO2017 Reference case projects China's shale gas production will grow from 0.7 Bcf/d in 2016 to 10 Bcf/d by 2030 and 19 Bcf/d by 2040, when shale gas is projected to account for a third of China's total natural gas supply. China's natural gas production from other sources, such as coalbed methane, tight formations, and more traditional natural gas reservoirs, is projected to increase more modestly, from 12 Bcf/d from these sources in 2016 to 20 Bcf/d by 2040.

Pipeline natural gas and liquefied natural gas (LNG) imports make up the rest of China's supply, collectively accounting for 36% of the 2016 total and projected to account for 32% of the 2040 total. China's LNG imports tripled between 2010 and 2016, reaching 3.5 Bcf/d (17% of total supply) in 2016. By 2018, China is projected to surpass South Korea as the world's second-largest LNG importer. By 2040, China is expected to import about 11 Bcf/d, as much as the world's largest LNG importer, Japan.

China's pipeline imports increased to 3.7 Bcf/d in 2016, accounting for 19% of the total natural gas supply. Although the IEO2017 Reference Case expects China's imports of natural gas by pipeline to rise in absolute terms to 7.3 Bcf/d in 2040, their share of China's total supply is projected to fall to 12% by that year. China began importing natural gas by pipeline from Turkmenistan in 2010 and has since begun importing natural gas from Uzbekistan, Kazakhstan, and Myanmar. EIA expects natural gas imports from Russia on the new 3.7 Bcf/d Power of Siberia pipeline to begin in late 2019.

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Earlier:

 

RENEWABLE INVESTMENT $3.7 BLN
2017, October, 25, 12:15:00

RENEWABLE INVESTMENT $3.7 BLN

A group of private-equity investors led by New York-based Global Infrastructure Partners and China’s sovereign wealth fund will acquire a portfolio of Asian wind and solar energy projects from Singapore-based Equis Pte Ltd for $3.7bn.

 

 WORLD OIL DEMAND UP BY 1.5 MBD
2017, October, 16, 12:20:00

WORLD OIL DEMAND UP BY 1.5 MBD

World oil demand growth in 2017 is now expected to increase by 1.5 mb/d, representing an upward revision of around 30 tb/d from last previous report, mainly reflecting recent data showing an improvement in economic activities. Positive revisions were primarily a result of higher-than-expected oil demand from the OECD region and China. In 2018, world oil demand is anticipated to grow by 1.4 mb/d, following an upward adjustment of 30 tb/d over the previous report, due to the improving economic outlook in the world economy, particularly China and Russia.

 

 CHINA LNG UP 44%
2017, October, 16, 12:10:00

CHINA LNG UP 44%

China bought 22.1 million tonnes, equivalent to 30 bcm, of foreign LNG in the first eight months of the year, up 44 percent from a year ago. Almost half of that came from Australia followed by Qatar.

 

 CHINA'S SOLAR ENERGY UP 50%
2017, October, 16, 12:05:00

CHINA'S SOLAR ENERGY UP 50%

China installed 38.28 gigawatts of solar power from January to August, up 49.5 percent from the end of last year, according to the China Electricity Council.

 

 ГАЗ РОССИИ ДЛЯ КИТАЯ
2017, September, 27, 13:45:00

RUSSIAN GAS FOR CHINA

As noted by Alexey Miller, "since early 2017, China's gas demand has grown significantly; according to the latest data, in January-July alone gas consumption in China added 16 per cent compared to the same period of last year."

 RUSSIAN OIL FOR CHINA
2017, September, 22, 09:00:00

RUSSIAN OIL FOR CHINA

Chinese oil refineries are gearing up to receive more Russian oil transported through an expanded Siberian pipeline network from January, likely cementing Russia’s position as China’s largest oil supplier in a close race with Saudi Arabia.

 

 WORLD ENERGY CONSUMPTION UP TO 28%
2017, September, 15, 08:55:00

WORLD ENERGY CONSUMPTION UP TO 28%

The U.S. Energy Information Administration projects that world energy consumption will grow by 28% between 2015 and 2040. Most of this growth is expected to come from countries that are not in the Organization for Economic Cooperation and Development (OECD), and especially in countries where demand is driven by strong economic growth, particularly in Asia. Non-OECD Asia (which includes China and India) accounts for more than 60% of the world's total increase in energy consumption from 2015 through 2040.

 

 

 

Tags: CHINA, GAS, CONSUMPTION

Chronicle:

CHINA'S GAS CONSUMPTION UP
November, 22, 11:05:00

NIGERIA & CHEVRON PROJECT &1.7 BLN

Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day.

CHINA'S GAS CONSUMPTION UP
November, 22, 11:00:00

MAERSK-AKER-HALLIBURTON ALLIANCE

OGJ - Maersk Drilling and Aker BP announced a drilling rig alliance based on a tripartite collaboration model that also includes service provider Halliburton Co.

CHINA'S GAS CONSUMPTION UP
November, 20, 09:35:00

OIL PRICE: ABOVE $62 YET

REUTERS - Brent crude futures LCOc1, the international benchmark for oil prices, were at $62.56 per barrel at 0439 GMT, down 16 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $56.59 a barrel, up 4 cents, or 0.1 percent, from their last settlement.

CHINA'S GAS CONSUMPTION UP
November, 20, 09:30:00

ROSNEFT'S WORLD RECORD: 15000 M

Rosneft as a member of Sakhalin-1 Consortium successfully completed drilling of the world's longest well from Orlan platform at Chaivo field in the Sea of Okhotsk. The length of the well with horizontal completion is 15000 m which currently is a world record. This is a supercomplex well with DDI (Directional drilling index) of 8.0 and 14,129 m stepout.

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