China's Natural Gas Demand Expected to Reach 375 Billion Cubic Meters by 2020 - Report

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China's Natural Gas Demand Expected to

Reach 375 Billion Cubic Meters by 2020 -

Report

PR Newswire

NEW YORK, LONDON, BERLIN and PARIS, July 9, 2012

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.

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