China targets 176bn cbm of natural gas production by 2015

03 December 2012 09:47  [Source: ICIS news]

SINGAPORE (ICIS)--China is aiming to produce approximately 176bn cubic metres (cbm) of natural gas and make natural gas accessible to some 18% of its citizens by 2015, according to its 12th Five-Year Plan on Natural Gas unveiled on Monday.

Under the plan published by the National Development and Reform Commission (NDRC), the country aims to identify an additional 3,500bn cbm of geological reserves of conventional natural gas and 1,000bn cbm of coal-seam gas during 2011-2015.

Meanwhile, it will extend the length of its natural gas pipelines by 44,000km in the same period to raise its transmission capacity by approximately 150bn cbm/year. Some 22bn cbm of additional gas storage capacity will be installed in the five-year period, the plan said.

Natural gas accounts for 4.6% of China’s total energy use at present, far lower than the international average of 23.8%, according to the plan.

The plan predicts that China’s natural gas demand will grow by more than 20bn cbm a year during 2011-2015 to reach 230bn cbm by 2015.

Since domestic production cannot catch up with demand growth, its dependence on imports of natural gas is estimated to exceed 35% by 2015, up from 15% in 2010.

Based on long-term supply contracts Chinese importers have signed with overseas suppliers, China’s natural gas imports will reach 93.5m cbm/year by 2015, the plan showed.

By: Fanny Zhang
+65 6780 4359

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