China's LNG demand dependent on policy environment
PERTH (miningweekly.com) – A new report from the Department of Industry, Innovation and Science has revealed that China’s demand for imported liquefied natural gas (LNG) could increase by 38% by 2030, depending on the government’s policy changes.
“China faces major challenges as it seeks to rebalance its economy from investment-led growth to consumption-led growth. An implication of moving to a consumption-driven economy is a decline in the share of high energy-intensive industrial sectors and an increase in the share of low energy-intensity services,” chief economist Mark Cully said on Tuesday.
Furthermore, China’s economic rebalancing was occurring at a time when major policy initiatives relating to energy security and environmental outcomes were gaining increased attention from policymakers.
One of these policies was the plan to increase the share of natural gas in China’s energy mix to obtain environmental benefits in the form of both lower atmospheric pollution and carbon dioxide emissions.
“China’s policies aim to deliver three key objectives: economic growth, environmental improvements and energy security,” said Cully.
Three key initiatives that were likely to affect natural gas demand and LNG imports included policies aimed at transitioning the economy towards service and consumption-led growth, improving air quality and reducing greenhouse gas emissions by lowering coal dependency, and increasing the production and use of unconventional gas.
However, Cully noted that the interaction of various economic and energy policies would play a large role in determining the scale of the demand for LNG and how it would be met.
“China’s future demand for natural gas, and LNG in particular, is of significant interest to Australia. China is expected to be a major source of incremental global demand for LNG in the coming years, and Australia is about to become the world’s largest LNG producer,” Cully said.
“Given the scale of China’s demand for natural gas, these changes could have a significant impact on the regional and global energy sector more broadly.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation