RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2019-09-02 13:10:00

CHINA'S GAS CONSUMPTION UP 10%

CHINA'S GAS CONSUMPTION UP 10%

CNBC - China's natural gas consumption growth rate is expected slow to around 10% in 2019, from 17.5% last year, amid easing economic growth and pressure on the country's production, storage and sales network, a government report published on Saturday showed.

The research report, conducted by the oil and gas department at the National Energy Administration, forecast consumption to be about 310 billion cubic meters, and to continue growing until 2050.

Like the rest of the global economy, China's growth prospects are being overshadowed by the lengthening dispute with the United States that has seen the world's two biggest economic players apply tit-for-tat tariffs on each other's goods, making trade more expensive and difficult.

China, the world's second-largest buyer of liquefied natural gas, last year and this year imposed tariffs on imports of the super-chilled fuel from the United States.

The report also called an increase in domestic output increase, especially in the southwestern province of Sichuan, the Erdos basin and in offshore production bases, to ensure security of the country's energy supply.

The report calls for building Sichuan basin into the country's top gas hub due to its rich resource base in both conventional and unconventional gas, such as shale gas and tight gas, a low-permeability gas derived from reservoir rocks.

"Through expanding development of deep-reservoir gas, tight gas and shale gas, Sichuan is likely to account for about a third of the country's total natural gas output," the report said.

China recently also announced a policy to extend subsidies for another three years on domestic production of unconventional gas, to include also tight gas for the first time.

-----


Earlier:

CHINA'S GAS CONSUMPTION UP 10%
2019, August, 28, 12:45:00
CHINA'S COAL IMPORTS UP
China's July thermal coal imports, including lignite, jumped 20% from 20.44 million mt a year ago to 24.42 million mt,
CHINA'S GAS CONSUMPTION UP 10%
2019, August, 26, 15:40:00
CHINA FOR U.S. OIL: +5%
China has announced a 5% tariff on imported US crude oil in retaliation for US President Donald Trump’s recent escalation of the countries’ trade war.
CHINA'S GAS CONSUMPTION UP 10%
2019, August, 23, 11:00:00
CHINA'S COAL DEMAND UPDOWN
Though the share of coal in the China’s total energy mix fell to 59% last year from 68.5% in 2012, overall consumption in 2018 rose 3% from a year earlier to 3.82 billion tonnes,
CHINA'S GAS CONSUMPTION UP 10%
2019, August, 19, 11:20:00
CHINA'S GREEN INVESTMENT $1 BLN
Chinese financial institutions provided at least $1 billion in “green” financing to coal-related projects in the first half of this year, a review of financial data showed, with fossil fuels still playing a major role in Beijing’s energy strategy.
CHINA'S GAS CONSUMPTION UP 10%
2019, August, 12, 13:00:00
CHINA'S GDP UP 6.2%
The Chinese economy is facing external headwinds and an uncertain environment. GDP growth slowed to 6.6 percent in 2018, driven by necessary financial regulatory reforms and softening external demand. Growth is projected to moderate to 6.2 percent in 2019 as the planned policy stimulus partially offsets the negative impact from the US tariff hike on US$ 200 billion of Chinese exports. Headline inflation rose due to rising food prices and is expected to remain around 2½ percent.
All Publications »
Tags: CHINA, GAS, DEMAND, CONSUMPTION