Monday, 05 October 2020 09:40

National Energy Administration: China sharply increases gas consumption

Natural gas consumption in China will increase by 13 billion, up to 320 billion cubic meters in 2020, says the report made by the National Energy Administration of China.

In 2019, the country's growth rates both in reserves and natural gas production reached a record level. At the same time, investment in exploration and development of oil and gas resources increased by 25.7 percent, on year-on-year to 335.5 billion yuan (about $49.6 billion).

Last year, natural gas imports to China reached 135.2 billion cubic meters, which makes 6.9% increase compared to the previous year.

According to a three-year action plan to combat air pollution released in 2018, China will increase the share of natural gas in total primary energy consumption up to 10% by 2020.

It should be noted that in September, Chinese President Xi Jinping announced that China will become carbon-neutral by 2060, which in itself is a great achievement in the fight against climate change, as well as good news for gas producers.

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