November 2019, Vol. 246, No. 11
Global News
China’s Gas Consumption Growth Rate Expected to Slip in 2019
China’s natural gas consumption growth rate is expected slow to around 10 percent in 2019, from 17.5 percent last year, amid easing economic growth and pressure on the country’s production, storage and gas sales network, a government report showed.
The research report, conducted by the oil and gas department at the National Energy Administration, forecasts gas consumption at almost 11 Tcf this year.
Like the rest of the global economy, China’s growth prospects are being overshadowed by the lengthening trade dispute with the United States. China, the world’s second-largest buyer of liquefied natural gas last year and this year, has imposed tariffs on imports of U.S. LNG.
The report also recommends boosting China’s domestic gas production with development of the Sichuan basin into the country’s top gas hub. “Through expanding development of deep-reservoir gas, tight gas and shale gas, Sichuan is likely to account for about a third of the country’s gas output,” the report said.
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