Gas switching raises dependence concerns

摘要

China’s dependence on imported natural gas and LNG could breach 70pc by 2030, the Chinese Academy of Social Sciences (CASS) says, amid uncertainty over the government’s gas switching policy and domestic supply projections. LNG imports have acted as the shock absorber for recent changes in government policy towards gas. LNG imports rose by 45pc last year as suppliers scrambled to meet demand caused by replacing coal with gas in domestic heating. China’s reliance on LNG imports from the US will be minimal if Beijing goes ahead with a 25pc retaliatory tariff later this year as part of the escalating trade war with the US. But LNG imports are still likely to remain China’s buffer against spikes in demand, amid uncertainty over future pipeline supplies and China’s shale gas programme.