China expects LNG receiving capacity to reach 100 MMt by 2025
BEIJING (Reuters) — China's LNG receiving capacity is expected to rise 8.6% a year to 100 MMt by 2025, China's state planner said, as the country ramps up investment to support use of the cleaner fuel.
Storage capacity of natural gas, including LNG, is forecast to rise 17% a year from 2015 to 2025 to reach 40 Bcm, the National Development and Reform Commission (NDRC) said on Wednesday on its website.
The NDRC also expects pipeline capacity for natural gas imports to rise 7.6% a year from 2015 to 2025 to hit 150 Bcm.
The world's top consumer of oil and coal, China has embarked on a huge investment program to expand its LNG and pipeline infrastructure.
The state planner recently said it would more than double the country's underground natural gas storage sites and encourage companies to buy LNG and build import terminals in an effort to counter climate change and fight pollution.
China's oil and gas pipelines are expected to total 105,000 mi by 2020 and 240,000 kms by 2025, the NDRC said.
China will also accelerate construction of the second phase of its strategic oil reserves and push forward construction of the third phase, the document said.
China had 33.25 MMt of crude oil in its strategic reserves, equivalent to 243 MMbbl, by mid-2016, the government said in April.
Reporting by Dominique Patton and Beijing Monitoring Desk; Editing by Richard Pullin
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At October’s HPI Forecast Breakfast for our sister publication, <i>Hydrocarbon Processing</i>, I shared <i>Gas Processing</i>’s forecast on change in the LNG industry.
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The New LNG Imperative
The shale gas boom established the US as the world’s leading natural gas producer and is responsible for billions of dollars of investments in the US gas processing industry. Since 2012, the US has witnessed unprecedented growth in new gas processing capacity and infrastructure. This rise is due to greater production of domestic shale gas, which is providing cheap, available feedstock to fuel the domestic gas processing, LNG and petrochemical industries. New gas processing projects include the construction of billions of cubic feet per day of new cryogenic and gas processing capacity, NGL fractionators, multi-billion-dollar pipeline infrastructure projects, and the development of millions of tons per year of new LNG export terminal construction. Attend this webcast to hear from Lee Nichols, Editor/Associate Publisher, Hydrocarbon Processing, Scott Allgood, Director-Data Services, Energy Web Atlas and Peregrine Bush, Senior Cartographic Editor, Petroleum Economist as they discuss the future of LNG and the application of Energy Web Atlas, a web-based GIS platform which allows users to track real-time information for every LNG project.
November 29, 2017 10am CST
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