China’s natural gas consumption rose 4 percent to 14.5 bcm in October compared with same time last year, according to the country’s National Development and Reform Commission.

Gas demand rises in China

China

SHANGHAI, December 1, 2015 – China’s natural gas consumption rose 4 percent to 14.5 bcm in October compared with same time last year, according to the country’s National Development and Reform Commission.

Total gas use was 149.6 bcm in the first 10 months of 2015, a 2.5-percent increase from last year. The country is trying to increase the share of cheaper natural gas in its energy mix.

 

The world’s most populous country is the world’s third-largest importer of gas and has yearly gas demand of 49.3 bcm but has 3 percent of the world’s gas reserves, leading to a 41.3-percent spike in natural gas imports this March compared with the same period in 2014.

Rising gas demand amidst stagnating economic growth has led the Chinese government to cut gas prices a second time this year in mid-November with hopes that will see more industry expansion.

The 30-percent price cut will especially help the flagging manufacturing sector as the country records 6.9 percent growth in the third quarter of 2015, its slowest pace since 2009.