Chinese authorities announced forecast of a significant increase in the consumption of natural gas by 2020, hinting at the need to increase volumes of deliveries of natural gas. According to the Xinhua news Agency (Xinhua), which is the official news Agency of the Chinese government, China would need 2.5 times more natural gas by the end of the current decade.
According to a post on the website of the Chinese government, the PRC is expected that gas consumption in China will grow to 420 billion cubic meters per year by 2020, the Volume of natural gas consumption in China in 2013 amounted to about 170 billion cubic meters. According to previously voiced by the official forecasts, the consumption of natural gas in China in 2014 will exceed 190 billion cubic meters.
The main factor due to which energy consumption will continue to grow in the long term, according to Chinese authorities, will continue the process of urbanization in the country.
In addition, the government's communication referenced in the Agency "Xinhua", also notes the need to reduce excessive dependence of the Chinese economy away from coal in favor of increasing the share of natural gas in order to reduce the level of air pollution. The worsening environmental problems in China, forcing the authorities to give this issue more attention. The statement also notes that increasing natural gas consumption in China will also substantially increase investment in the construction of gas storages.
It should be noted that the statement of the authorities of the PRC a marked increase in the consumption of natural gas was made in anticipation of the signing of a major energy agreement between Russia and China.
As expected, during the visit of Russian President Vladimir Putin to China in may 2014 between Gazprom and China national petroleum Corporation (CNPC) signed contracts for the construction of the pipeline, as well as on long-term deliveries of natural gas from Russia to China.
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