China is expected to import more than half of its natural gas needs by 2035, according to a new report from the Chinese National Petroleum Corporation (CNPC) Economics & Technology Research Institute, the research arm of China’s biggest energy producer, as a Beijing campaign to reduce the nation’s reliance on dirtier coal sharply boosts demand, said Caixin.
Natural gas needs will reach 610 billion cubic meters per year by 2035, according to the report, with China’s domestic capacity reaching about 300 billion cubic meters. This means natural gas will go from supplying 8% of China’s total nonrenewable energy last year to 14% in 2035.
Expansion of domestic capacity from 161 billion cubic meters per year in 2018 to 300 billion cubic meters in 2035 would require average annual growth of 2.8%, the report said.
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