According to China LNG Market Demand & Supply analysis, By End-User, By LNG Terminals Forecast and Opportunities, 2011 - 2021, the market for imported LNG is projected to grow at a CAGR of over 15% during 2016-2021, due to increasing peak saving demand from residential consumers for space heating requirements and rising demand for integrated LNG power plants.
China stands among top 15 largest proved natural gas reserves, globally. The Chinese government is spending heavily on exploration and production activities such as 2D and 3D seismic surveys, in order to explore proved reserves and address the growing domestic requirements for natural gas. In China, majority of the natural gas fields are situated onshore in Western and North-central parts of the country.
Over the next five years, the country's domestic natural gas production is expected to grow on account of various new gas discoveries in these two regions. Increasing consumption and limited natural gas production is projected to generate huge demand for Liquefied Natural Gas (LNG) in the country. In 2015, domestic natural gas contributed around 69% share in total natural gas consumption in China, while the remaining was addressed by LNG and cross-country natural gas pipeline imports.
Some of the key consumers for LNG in China include power, industrial, residential and transportation sectors. In 2015, industrial sector accounted for the largest share in the country's total natural gas consumption, owing to rising natural gas demand from heavy industries, smelting & pressing of ferrous metals, petrochemical plants, processing of petroleum, coking and processing of nuclear fuel and petrochemical plants.
East China registered the highest consumption of LNG from the industrial, power and petrochemical sectors. The region has 14 natural gas based power plants with an installed capacity of 13,843.6 MWe and five operational LNG terminals, with a combined receiving capacity of 17.53 million metric tons per annum (MMTPA).
Key Topics Covered:
1. Product Definition
2. Research Methodology
3. Analyst View
4. China Natural Gas Outlook
5. China Natural Gas Consumption Overview
6. China Natural Gas Consumption Overview- By End-Users
7. China Natural Gas Consumption Overview- By Regions