China to import 43 pct natural gas demand by 2040

TOKYO– China’s demand for natural gas will continue to soar toward 2040, outstripping domestic output by around 43 percent, state-run Xinhua News Agency reported Tuesday, citing the International Energy Agency (IEA).

“China’s annual gas production will more than double to 340 billion cubic meters in 2040, with shale gas a major contributor, but consumption is foreseen to grow even faster, reaching 600 billion cubic meters,” IEA said in its China Special Report of the World Energy Outlook 2017.

The report, published in the southwestern Chinese city of Kunming, also said that by 2040 China would be involved in about one-quarter of the global long-distance natural gas trade.

The rise of natural gas use by the world’s second-biggest energy consumer is the result of the government promoting natural gas as a cleaner alternative to coal.

Overall energy demand is growing much slower than that during the early 2000s, the report noted. The IEA report forecast that the share of natural gas in the energy mix would double to 12 percent by 2040, while that of coal will drop to 45 percent.

Source: Kuwait News Agency