China's Natural Gas Demand Expected to Reach 375 Billion Cubic Meters by 2020 - Report
NEW YORK, LONDON, BERLIN and PARIS, July 9, 2012 /PRNewswire/ --
China is set to increase its gas imports and production to meet the ballooning demand as the country's natural gas consumption is set to almost treble over the next eight years. The Asian giant will now draw from all available sources to keep up with demand, expect energy industry analysts in a latest research report titled - Increasing Natural Gas Demand in China - Diversification of Gas Sources to Ensure Future Supply.
According to this research, China's natural gas consumption was 131.7 billion cubic meters (bcm) in 2011, already a steep rise from the 2000 figure of 24.5bcm. However, consumption levels are predicted to soar even higher to reach 375 bcm by 2020, thanks to the country's desire to increase share of natural gas in its energy mix.
Major Chinese NOCs such as China Petrochemical Corporation and its subsidiary China Petroleum & Chemical Corporation (Sinopec), China National Petroleum Corporation (CNPC) and its subsidiary PetroChina Company Limited (PetroChina), and China National Offshore Oil Corporation (CNOOC) are actively involved in the partial or full acquisition of overseas assets in an attempt to guarantee long-term national gas security.
In 2011, China consumed approximately 131.7bcm of natural gas, though it only produced 100.9bcm - a disparity that will only grow in the future. By the end of 2011, five LNG terminals were operating in China with a total regasification capacity of approximately 1 trillion cubic feet (tcf). This will climb to 2.8tcf by the end of 2016 at an Annual Average Growth Rate (AAGR) of 19.7%, due to the introduction of a further 11 terminals.
In March of this year, the government announced a new Chinese shale gas development plan, one of the stated aims of which is to produce 6.5bcm of natural gas by 2015. The government also announced that the country has onshore shale gas reserves of 134.4tcm and exploitable shale gas reserves of 25.1tcm (excluding the Qingzang Plateau area in the Tibet region) - a declaration that confirms China as one of the largest holders of shale gas reserves in the world.
This report analyzes China's strategy to meet increasing natural gas demand in the country. It also provides information about China's efforts to explore new conventional and unconventional natural gas reserves and increase production from the existing reserves.
To view the detailed table of contents of this report kindly click - Natural Gas Market in China or visit http://www.reportstack.com.
Latest Oil and Gas Market Research Reports:
Country Specific Oil Market Reports:
Oil Market in the Netherlands - 2012
Oil Market in the United Kingdom - 2012
Shale Gas & Oil Analysis and Forecast Reports:
Granite Wash Shale Analysis and Forecast to 2020
Utica Shale Oil and Gas Market Analysis and Forecasts to 2020
Montney Shale in Canada Market Analysis and Forecasts to 2020
Haynesville Shale Market Analysis and Forecasts to 2020
Niobrara Shale - Oil Shale Market Analysis and Forecasts to 2020
About Reportstack™:
Reportstack.com is one of the leading distributors of market research reports in the world today. Reportstack.com provides access to over 50,000 company profiles and their strategic information like SWOT analysis, deals and partnerships analysis, merger & acquisition activity and new product launches. Reportstack.com is also a leader in the field of Energy & Utility Market Research Reports and Alternative & Renewable Energy Market Research.
Contact Reportstack.com:
Nathan Gold
Phone: +1-888-789-6604
Email: [email protected]
Twitter
Blogs: Alternative Energy Market Reports
Energy Market Research Reports
Market Research Reports
SOURCE Reportstack.com
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article