China's natural gas imports represent 12.8pct of apparent consumption
2010-8-20
China's natural gas imports stood at 4.51 billion cubic meters in the first four months of 2010, up 206.1 percent year on year, accounting for 12.8 percent of the country's apparent consumption of natural gas totaling 35.14 billion cubic meters in the period, the Beijing Daily newspaper reported on Wednesday.
 
According to statistics from the National Bureau of Statistics, China's natural gas output reached 31.89 billion cubic meters in the first four months, up 13.1 percent over the same period a year earlier, while the apparent consumption, namely natural gas imports plus domestic output, was 35.14 billion cubic meters, up 22.8 percent year on year.
 
The company's apparent consumption of natural gas hit 90 billion cubic meters in 2009, including 7.8 billion cubic meters of natural gas imports. It is forecasted that China's natural gas imports will surpass 15 billion cubic meters in 2010.
 
Industrial insiders say that the Chinese government has announced a 25 percent price hike of the country's natural gas producer price in early June. The move might restrain the overgrowth of natural gas imports.
 
Before the price hike, China's onshore natural gas producer's price was only 25 percent of the international oil prices. The low gas price has encouraged a boom of chemical and power-generating projects with natural gas as feedstock.
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