A leading energy company in China says its demand for natural gas is rising due to energy restructuring and environmental protection policies.
Those comments were made Monday at the CERAWeek of IHS Markit in Houston, Texas. Officials say the Chinese government has made up its mind to adjust the energy structure, especially in the implementation of the Paris Agreement. At present, the share of natural gas in China's energy structure is relatively low, estimated at 7% to 8%, and the future target is 15%.
Relevant persons also said: “In the adjustment phase, China's demand for natural gas is expected to increase, and the annual growth rate of natural gas is expected to reach 8% by 2030.
Meanwhile, in the last few years, the Chinese government has combined energy restructuring with air pollution control to promote clean energy heating by strengthening the construction of coal-to-gas projects.
In the next step, China will further expand the use of clean energy and increase the proportion of natural gas heating. Therefore, the natural gas market possesses huge potential in the future.
China's natural gas imports surged in 2018, according to the National Bureau of Statistics (NBS). Natural gas imports amounted to 9.39 million tons, up 31.9% year-on-year.
At the same time, data from the National Bureau of Statistics also showed that China's energy consumption structure continues to improve in 2018, and the proportion of clean energy consumption, such as natural gas and hydropower, in total energy consumption has increased by 1.3 percentage points over the previous year.
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