Global gas markets are in upheaval

Steady supply in China

Growth is the biggest feature of China's natural gas market in recent years.

From a world perspective, China's natural gas production is quite considerable, and there has been no "gas anxiety" for quite a long time. Since the beginning of the 21st century, with the rapid development of China's economy, the rapid increase of energy consumption, and the continuous improvement of environmental protection requirements, China's natural gas production and consumption are also growing, and the dependence on foreign natural gas is also rising.

At the same time, China also accelerated the introduction of overseas natural gas resources. At the end of 2009, the China-Central Asia Natural Gas Pipeline and its eastern West-East gas pipeline were completed. Starting from Turkmenistan, a Central Asian country rich in natural gas resources, China began to introduce overseas land pipeline natural gas on a large scale.

In 2006, when China imported its first shipment of overseas LNG resources, China's natural gas dependence was less than 2%. In 2019, China became the world's largest natural gas importer; By 2021, China has surpassed Japan to become the world's largest LNG importer, with its natural gas dependence reaching 45.5%.

At present, China has built four major natural gas import channels for Central Asia-China gas pipeline, China-Russia gas pipeline, China-Myanmar gas pipeline and LNG transportation on the Southeast Sea.