China's demand for gas over the next ten years will grow by more than half, while production in the country will be able to provide only slightly more than half of the required volume, said Wednesday the Deputy head of China's largest company for oil and gas offshore (CNOOC) Li Hui.

China's demand in gas will grow by more than 1.5 times

This is with reference to Interfax reports Biznestsentr.

Read also: China is ready to provide "Naftogaz of Ukraine" loan guarantees for $1 billion

According to him, in 2019, the demand for gas will amount to 310 billion cubic meters, in 2020 - 360 billion in 2025 - 480 billion, and by 2030 will increase to 540 billion

In 2019 gas production in China is planned at the level of 169 billion cubic meters, in 2020 - 200 billion in 2025 - 242 billion in 2030 - 290 billion.

China this year expects to import through pipelines 57 billion cubic meters in 2020 63 billion in 2025 - 121.8 billion, and in 2030 - 126 billion cubic meters, said Li Hui.

He noted that China has put himself in dependence on the already signed long-term contracts on gas supplies, which were signed at relatively high prices.

See comments →