NEWS
China 's next five-year plan will boost LNG
Beijing, July 29 (LNG journal)
- China's annual consumption of natural gas will reach 100 billion cubic meters during the country's 11th Five-Year Plan from 2006 to 2010 and liquefied natural gas will account for one-third of the total, the official China Securities Journal reported, citing the National Development and Reform Commission.
China 's annual consumption of natural gas currently stands at 40 billion cubic meters, making up only 3 percent of the country's total demand for energy.
The proportion will increase to 6 percent to 8 percent in the next five years, the report said. China 's demand for natural gas is expected to be 200 billion cubic meters by the year 2020, with half of the supply coming from overseas.
LNG supplied by south-east Asian countries, Australia and the Middle East will account for one-third of the country's total consumption by 2010, the report said. In the first half of this year, both the national output and consumption of natural gas increased by nearly 20 percent.
hina National Petrochemical Corp., China National Petrochemical Corp. and China National Offshore Oil Company Ltd are the country's three major natural gas suppliers
