China Should Make Early Preparations on Global Gas Shortage
ANBOUND
( Photo/Network )
The U.S. Energy Information Administration estimates that global gas consumption in 2040 will increase from 124 trillion cubic feet (tcf) in 2015 to 177 tcf. The industry is concerned that natural gas may be in shortage in five years. It is worth noting that as a large country with growing natural gas demand, China's natural gas import ratio in the 2040 will be as high as 43%. This means that China will face competition from the international market in the future. From now, China will have to make early preparations to ensure the safety and stability of natural gas supply; in fact, China has experienced serious shortage of gas supply in the winter of 2017. China will need to make early plans based on its own needs and the international energy market.