China Offers No Help to Glutted Market

摘要

China won't be riding to the rescue of oversupplied global gas markets any time soon, according to a new report from a Chinese research group, despite government efforts to promote gas to improve air quality and meet UN climate commitments. The country will itself remain awash in gas until 2030, at the earliest, as contracted supply overwhelms feeble demand growth, the Beijing-based China Energy Research Society (CERS) says. Without stronger pro-gas policies, the non-governmental group reckons the surplus will shoot up to 40 billion cubic meters per year (3.9 billion cubic feet per day) by 2020 from 3.2 Bcm/yr in 2015 and still average about 20 Bcm/yr by 2030.