China's natural gas demand is growing rapidly, driven by urban heating, cooking, and industrial use.
China has been the focus of oil traders' attention for years thanks to its seemingly insatiable demand for the fuel. Now, the country is about to cast itself as the star of the natural gas show as well. Last year, China 's natural gas consumption hit 394.5 billion cu ma 7% annual increase, analysts from Columbia University's Center of Global Energy Policy wrote in a recent paper.
This optimism, however, should be accompanied by caution because China is unlikely to plan on boosting its reliance on gas for power generationnot when it already depends on imports for between 40 and 45% of its consumption, per Kemp. Of course, these numbers may be a reason for caution among Chinese planners, but they are the opposite for gas producers.
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