China LNG Imports to Grow at CAGR 15% till 2021 Says TechSci Research
NEW YORK, June 14, 2016 /PRNewswire/ --
Growing Demand From Power, Industrial, Residential and Transportation Sectors, and Rising Concerns Over Increasing Carbon Dioxide Emissions to Drive China LNG Market Through 2021
According to TechSci Research report "China LNG Market Demand & Supply Analysis, By End-User, By LNG Terminals Forecast and Opportunities, 2011 - 2021", the market for LNG imports to China is projected to grow at a CAGR of over 15% during 2016 - 2021, on account of increasing peak demand from residential consumers for space heating and rising demand from integrated LNG power plants. China National Petroleum Corporation (CNPC), a state-owned oil & gas corporation, is the largest integrated oil & gas company in China. The company dominates onshore pipelines business in the country and also operates through cross-country pipelines - Central Asia-China Pipeline and China-Myanmar Pipeline.
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China Natural Gas Imports Share through Cross Country Pipelines, By Country, By Volume, 2014
China Natural Gas Imports Share through By Cross Country Pipelines, By Country, 2014 (%)
Country Import Share (%)
Turkmenistan 81.44%
Myanmar 9.56%
Uzbekistan 7.77%
Kazakhstan 1.23%
Source: BP Stats
Browse 89 market data Tables and 41 Figures spread through 200 Pages and an in-depth TOC on
"China LNG Market"
Increasing natural gas consumption and limited natural gas production is boosting demand for liquefied natural gas (LNG) in the country. In 2014, LNG imports accounted for around 46% of the country's total natural gas imports, making China the third largest importer of LNG in the world, after Japan and Korea. Major consumers of LNG in China include power, industrial, residential and transportation sectors. Industrial sector is one of the largest natural gas consumer in China owing to increasing demand from smelting & pressing of ferrous metals, petrochemical plants, petroleum processing, coking and processing of nuclear fuel and petrochemical plants. China LNG market is mainly dominated by national oil companies such as China National Offshore Oil Corporation (CNOOC), China National Petroleum Corporation (CNPC), Sinopec and their subsidiaries. The highest regional demand for LNG is forecast to emanate from East China, due to rising LNG consumption from industrial, power and petrochemical sectors in the region.
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"Government of China prioritized expansion of natural gas based power plants, on account of growing air pollution and rising greenhouse gas emissions. This is boosting installation of new natural gas based power plants along with LNG terminals, especially in Guangdong and Shanghai provinces of the country. In order to reduce coal consumption, Beijing has already replaced four major coal-based power plants with natural gas. In the coming years, the government is planning to replace all coal based power plants in the country with natural gas based power plants. This shift towards natural gas based power plants is forecast to propel growth in natural gas exploration and production, as well as augment China's LNG imports in the coming years." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"China LNG Market Demand & Supply Analysis, By End-User, By LNG Terminals Forecast and Opportunities, 2011 - 2021" has evaluated the future growth potential of LNG market across China and provided statistics and information on market structure, demand & supply analysis and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in LNG market in China.
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