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China Has A Natural Gas Supply Gap of over 20 Billion Cubic Meters

Jiemian News, the online news site under the Shanghai United Media Group, recently reported that, for the upcoming winter and spring, China is expecting a natural gas supply gap of 22.8 billion cubic meters. Shanghai United Media Group was established in 2013 through the merger of two large government owned newspaper groups, Jiefang Daily and Wenhui–Xinmin United Press. Just the market share that China National Petroleum Corporation (CNPC) controls will see a year-over-year demand increase of 32.4 percent. The 5 billion cubic meters of gas supply gap China suffered last winter and spring already has created a major “gas shortage.” To ease the situation, the three largest Chinese natural gas suppliers (CNPC, SINOPEC and CNOOC) expanded their total capacity by 10 billion cubic meters. Among those with the highest increase in demand are industrial fuel gas, city consumer gas, and electricity power generation gas. Some analysts, however, are not very much concerned because the Chinese government has since drastically changed the policy of switching from coal to natural gas.

Source: Jiemian News, October 23, 2018