China's gas imports my reach 190-270 billion cubic meters by 2030 as usage expands, China National Petroleum Corporation (CNPC) said Thursday.
"According to our forecast until 2030, the volume of gas imports to China will reach 190-270 billion cubic meter per year. But that's just an estimate," CNPC International Department Director-General Li Yueqiang told reporters in Beijing, Sputnik reported.
With gas prices ruling low, China's first half consumption grew 9.8% to 99.5 bcm. The demand growth seen in the first half is more robust than what was witnessed during the same period last year but still below the ten-year average. China's Natural Gas Consumption growth in 2015, dropped to a ten year low at 3.7%. During the first of 2015 demand increased by only 2.1%. In the past decade, China's natural gas consumption has seen average annual growth rate of 16%, CNPC said late last month.
Experts believe the slowdown in the wider economy has pulled down the demand for natural gas. Late last year, the government slashed domestic gas prices to stimulate demand.
According to Li Yueqiang, China imported some 53 bcm of natural gas in 2015.
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