Current Situation and Prospects of the Development of China's Natural Gas Industry

In 2018, China’s natural gas market reached a new level of development, with apparent consumption of 280.3 billion m3, up by 18.1%over the same period in the previous year. Domestic production grew steadily, reaching 157 billion m3, up by 7.2%over the same period in the previous year. Natural gas imports grew rapidly, with imports of pipeline gas and LNG totalling 124.2 billion m3.In terms of trade types, imports of LNG continue to exceed those of pipeline gas.In2019, there hasbeendownwardpressureon themacroeconomy,and thedevelopmentof themaingassector hassloweddown.Drivenby environmentalprotectionpolicies,thenaturalgasmarketcontinuesto maintainrapidgrowth.However,itisdifficultfor the levelsofincrement and growth to reach those of the previous two years, and the growth rate of market demand is predicted to reach 10.7%.