Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report showing that that China’s energy needs are growing rapidly.

China’s Natural Gas Industry: Current Status and Future Prospects, 2007 to 2010 reports that by 2030 natural gas will surpass oil to become the world’s number one energy resource, especially in the power generation industry. According to government forecasts, China will need to invest over 220 billion RMB in natural gas infrastructure, pipelines, and liquefied natural gas (LNG) facilities between 2002 and 2020.

Authors of the report note that opportunities will be created in the reconstruction and expansion of old power plants as well as in refitting existing power generation equipment. They further note that natural gas in China offers an attractive prospect for investment.

The report shows that the demand for natural gas, as a clean and efficient fuel, is expected to reach 200 billion cubic meters by 2020. With demand growth outpacing supply, China will have a supply gap of about 80 billion cubic meters by 2020. The Chinese government is currently drafting plans for the mid to long-term development of the natural gas industry. Objectives include the further acceleration of exploration, development and use, optimization of energy supply structures and enhancing national energy security.

It further shows that the Chinese government encourages foreign companies to participate in the construction and operation of natural gas exploration, shipping, storage, power generation, urban use and related industries. A number of laws and regulations have been modified to relax restrictions on foreign investment. In recent years almost all major international petroleum and petrochemical companies have invested in development in China.

China’s Natural Gas Industry: Current Status and Future Prospects, 2007 to 2010

Report Buyer product ID: RFC00001
Report Buyer category: Energy & Utilities