07 March 2013 23:28 [Source: ICIS news]
HOUSTON (ICIS)--China is expected to add massive amounts of natural-gas power generators, turning the market for power equipment upside down, an executive for GE said on Thursday.
"The most dynamic place in the world for gas-powered generation is China," said Paul Browning, CEO of thermal products, GE Power & Water.
Half of the gas turbines in China are produced by GE.
Browning made his comments during IHS CERAWeek.
Until recently, China was Browning's smallest market, he said. Three years later, it is now the largest.
To feed those new power plants, China is building terminals to import liquefied natural gas (LNG), Browning said. In addition, the country is improving pipelines that bring gas from Russia, Turkmenistan and China's western provinces.
China also has substantial reserves of unconventional gas, Browning said.
"There are many people who believe it will be a game changer in China," he said. "However, there is debate about when it will happen."
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