China's natural gas consumption grew by an average annual rate of 12.7% from 2011 to 2015. Impacted by low oil price and competition from other alternative energy, the average annual growth rate of gas consumption is only 6% in the last two years. In 2017, promoted by improved macroeconomic situation, policies aiming at environment improving and boost use of natural gas, natural gas consumption of the first half year has achieved 115 billion cubic meters, year on year growth of more than 15%. China's natural gas consumption will exceed 360 billion cubic meters in 2020, assuming 15% growth rate in the following 3 years. Meanwhile, domestic production is to maintain growth, but the growth rate dropped, and the scissors difference of supply and demand is increasing. Natural gas dependency rose from 15% of 2010 to 35% of 2016. China has abundant unconventional natural gas resources. After nearly ten years of research and practice, unconventional key development technologies achieve breakthroughs, especially the success of shale gas industrialization produce shows that shale gas will become the main incremental part in the domestic gas supply. Furthermore, shale gas has the potential to be the most realistic field to promote natural gas development.
展开▼
