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China's Gas Imports Could Rise to Cover 50% of Demand in 2035: CNPC

NATGAS
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China’s natural gas imports could rise to climb 300bcm and match domestic supply capacity to cover half of total demand which could plateau around 600bcm a year over 2035-2040, according to CNPC’s Economics and Technology Research Institute cited by Bloomberg.

  • The current ratio of imports to overall supply is around 40% and the increase would depend on attractive overseas prices.
  • China’s output from unconventional gas resources, including shale, coal bed methane and ultra-deep drilling, could increase from 38% to 50% of production.
  • Gas-fired power capacity could increase from 126 GW to 300 GW to support integration of renewable energy. Gas-fired capacity accounts for 4.3% of China’s overall generation.
  • Gas demand in China is expected to decline from 2040-2060 due to hydrogen development.
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China’s natural gas imports could rise to climb 300bcm and match domestic supply capacity to cover half of total demand which could plateau around 600bcm a year over 2035-2040, according to CNPC’s Economics and Technology Research Institute cited by Bloomberg.

  • The current ratio of imports to overall supply is around 40% and the increase would depend on attractive overseas prices.
  • China’s output from unconventional gas resources, including shale, coal bed methane and ultra-deep drilling, could increase from 38% to 50% of production.
  • Gas-fired power capacity could increase from 126 GW to 300 GW to support integration of renewable energy. Gas-fired capacity accounts for 4.3% of China’s overall generation.
  • Gas demand in China is expected to decline from 2040-2060 due to hydrogen development.