Gas to Take '9.6% of Chinese Energy Mix by 2020': Govt
Natural gas will account for 9.6% of total Chinese energy demand by 2020, up 3.7 percentage points over 2015, according to CNPC on its website citing a statement by government officials.
China will likely consume 350bn m³/yr of gas by 2020 while its oil consumption is expected to be 590mn metric tons. Oil's share in overall energy mix will drop by 0.7% over 2015. However, oil will still have a big 17.4% share in the overall Chinese energy basket in 2020.
Citing a statement by the planning division of the National Energy Board CNPC said that China plans to reform the gas price to make it more affordable and accessible to a wider consumer base. The government also plans to lower pipeline gas tariffs and reform gas and electricity price linkage. Promotion of gas storage and receiving facilities will also be taken up by the administration.
There is also a plan to increase the coalbed methane industrial base by encouraging further development.