China Warns of Winter Tightness in Natural Gas Supplies

The National Energy Administration has forecast total 2020 consumption of 320 bcm.

SEATTLE (Oil Monster): China's gas supply could get tight during the peak consumption period in December and January, state planner the National Development and Reform Commission (NDRC) cautioned on Tuesday.

Factors of uncertainty, such as continuous cold weather in large areas, spell some pressures in guaranteeing gas supply, said the agency's spokeswoman, Meng Wei.
'The supply of natural gas resources is relatively sufficient, and the balance of supply and demand is generally better than in previous years,' Meng told a briefing.

In the first nine months of the year, apparent consumption of natural gas stood at 230.9 billion cubic meters (bcm), or a year-on-year increase of 3.6%, she said.

The National Energy Administration has forecast total 2020 consumption of 320 bcm.

China is the only bright spot on the world gas market as it heads for its highest imports of liquefied natural gas ever, with industry recovering from the coronavirus pandemic.

Since 2016, China has switched millions of homes and thousands of factories to natural gas from coal as a bridge fuel on its long journey to reach carbon neutrality by 2060.

Courtesy: www.economictimes.com