China's annual natural gas consumption will more than treble by 2030, the president of major gas producer China National Petroleum Corp (CNPC) said, giving a forecast lower than an estimate by energy consultant Wood Mackenzie.
Zhou Jiping told an international gas conference on Thursday that consumption would reach 550 billion cubic meters (bcm) a year by 2030.
Wood Mackenzie released a forecast on Wednesday, at the same conference in Kuala Lumpur, that demand was likely to increase to more than 600 bcm by 2030 from just over 150 bcm now.
The Wood Mackenzie report said China would have to rely on unconventional supplies such as coal-bed methane, coal-to-gas, as well as imports of both piped and liquefied natural gas (LNG) as its exploitation of shale gas reserves will be slower than expected. . .View Full Article