China has increased import of gas amidst a great demand because of abnormal winter
The gas sector of China demonstrated high indicators in the second half of 2020, and in intermediate term prospect in this sector of the country steady growth will remain, is told in the report of rating agency Fitch Ratings as Xinhua Agency informs.
In the report it is noted that restoration of industrial activity after lockdown in connection with COVID-19 pandemic and abnormal cold winter led to the lack of supply of gas in China at the end of 2020. Amidst a great demand in the country the increase in volume of import of gas was observed.
Nevertheless, according to the report, the problem with gas deliveries in China last year was less serious than in 2017 because with a view of rupture reduction between supply and demand the national oil companies transferred some deliveries under long-term contracts for winter.
Besides it, occurrence of new terminals, storehouses and pipelines of liquefied natural gas also promoted increase in volume of deliveries in China.
According to the data of the aforementioned agency, it is expected that medium and long-term deliveries of gas in China remain stable that is caused by steady demand for gas.
The national oil companies of China direct more investments into the gas sector, instead in the sector of crude oil, aspiring to achieve the object of carbon neutrality, having provided thus national energy security, as is marked in the report of Fitch.
Turkmenistan is the leader of deliveries of pipeline natural gas to the market of the People’s Republic of China. In 2020 39 billion cubic metres of natural gas most part of which was supplied from Turkmenistan were delivered to the gas market of the Celestial Empire by the gas pipeline “Central Asia – China”.
