China Pivots to Russia as US Tensions Mount

摘要

China could start buying more Russian gas amid forecasts that imports could jump 60% over the next five years (WGI Jun.10'20). Analysts at China National Petroleum Corp. (CNPC), the country's biggest importer, tell Energy Intelligence they see imports rising to at least 200 billion cubic meters per year (19.3 billion cubic feet per day) by 2025 from 125 Bern (13.1 Bcf/d) last year as consumption hits 420 Bcm/yr and production a maximum of 220 Bcm/yr. They expect consumption to double in 20 years thanks to economic growth.