Lowers rise in gas use to 9 percent
Due to China’s rapid economic growth and environmental protection efforts, natural gas demand has increased in recent years.
Consumption growth exceeded 10 percent in 2007. By 2011, the expansion rate had more than doubled to some 20 percent, which pushed up imports.
Even last year, demand was still expanding relatively rapidly. China used 168 bcm of natural gas in 2013 with annual growth of 13.9 percent. Imports accounted for more than 30 percent of the market for the first time in 2013.
But consumption growth has slowed in tandem with weaker economic expansion.
According to the National Development and Reform Commission, the top economic planner, China used 63.2 bcm of natural gas in the first half of this year, up 7.5 percent year-on-year.
Yang Lei, deputy director of the oil and gas department at the National Energy Administration, said that China needs to establish a natural gas trading market.
Wang Zhigang, senior vicepresident of China Petroleum & Chemical Corp (Sinopec), said that the nation’s gas consumption improving slows.
According toWang, Sinopec has “ambitious” shale gas development plans for the 13th Five-Year Plan period. It aims to achieve annual output of 10 bcm by 2020.
Tu Jianjun, China program manager of the International Energy Agency, said it is urgent for China to establish an influential natural gas trading center.
“The country’s natural gas pricing mechanism should be improved as well to reflect the diversification of the country’s gas supplies,” he said.
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