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China Expected to Double its Natural Gas Consumption Over the Next Five Years

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A Chinese worker checks the valve of a gas pipe at a natural gas plant in Suining, Sichuan province.


The International Energy Agency says China’s demand for natural gas will continue to grow, making it the third largest importer of gas behind Europe and Asia Oceania. Over the same period, the IEA says the U.S. will become a net exporter of liquefied natural gas. Among the findings are:

  • A quarter of new gas demand will come from China, another quarter from the Middle East and other Asian countries together, and a fifth from North America.
  • Low gas prices will result in gas generating almost as much electricity as coal in the United States by 2017.
  • Global gas trade will expand by 35%, driven by LNG and pipeline gas exports from the FSU region; most of this expansion occurs from 2015 onwards, following a period of further tightening of global gas markets.
  • Natural gas is the most important commodity with no global market price yet. Divergence among regional gas prices will decline but remain a feature of global gas markets. The emergence of a spot price in Asia would aid regional producers and buyers.

For more on the IEA’s report about natural gas, check out Bloomberg Businessweek’s report.

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