China Targets Natural Gas Growth

China has set a target of 25 percent annual growth in the consumption of natural gas during the 12th Five-Year Plan period, reports Shanghai Securities News, citing an insider close to the National Development and Reform Commission.

China is targeting domestic natural gas production of 170 billion cubic meters in 2015 while imports are expected to reach 90 billion cubic meters.

In addition, output of coal-bed methane is expected to reach 20 billion cubic meters in 2015 while the output of coal gas is forecast to hit 30 billion cubic meters.

Consumption of natural gas in China totaled 107.2 billion cubic meters last year, an increase of 22.73 percent year-on-year. Of the total, 95 billion cubic meters were produced domestically while imports accounted for 12.2 billion cubic meters.

Source: CapitalVue