Current State and Prospect of China Natural Gas Industry

Natural gas output remained stable growth and reached 130.9 billion cubic meters in 2015, 3% higher than the same period last year. Shale gas saw huge progress. China thus became the third country in the world fulfilling commercial development after U.S. and Canada. Natural gas import growth and growth rate declined obviously, and the imported pipeline gas and LNG totaled 61.2 billion cubic meters in 2015. Apparent natural gas consumption was 186.5 billion cubic meters in 2015, rising by 4.4% as compared with the same period last year, but it hit a historic low. There is higher downward pressure on domestic macro economy in 2016. However, natural gas demand will see more rapid growth, propelled by such favorable factors as gas price regulation and environmental protection policies. It is prospected that natural gas market will take a turn for the better than in 2015, and natural gas supply will still be rich in general in 2016.