Analysis of supply and demand situation and development prospect of China's natural gas market in 2022

From the National Energy Administration's forecast of China's natural gas production and consumption, there is still a large gap between China's natural gas supply and demand in the short and medium term. However, from the perspective of the current trend of substantial growth in China's natural gas exploration and a series of policies for natural gas production, the National Energy Administration's forecast of natural gas production is conservative, and it is expected that with the further improvement of China's natural gas mining technology and infrastructure construction process, the future growth rate of natural gas production is expected to continue to outperform consumption growth. That is, the growth rate of the natural gas supply and demand gap will likely fluctuate downward, and the natural gas supply and demand gap is expected to stabilize within 150-200 billion cubic meters.