China's LNG industry must effectively manage five key relationships, according to the latest insights shared at the China International Forum on LNG Industry Development. Experts participating in the event emphasized that during the "11th Five-Year Plan" period, China's growing economy will drive increasing demand for natural gas, leading to a potential supply-demand imbalance in the LNG market. To address this challenge, the industry needs to adopt strategic measures and properly balance several critical aspects.
First, there is the relationship between domestic and foreign land-based and maritime infrastructure, as well as air transport. Strengthening the development of domestic offshore resources and importing pipeline gas should become the primary channel for natural gas supply. Meanwhile, importing LNG can help alleviate energy shortages in coastal regions, with pipeline gas and LNG working together to build a comprehensive national gas network.
Second, the coordination between LNG receiving terminals and upstream liquefaction plants is crucial. The industry must ensure that LNG projects align with the production schedules of upstream facilities to secure favorable contract prices and create better commercial conditions.
Third, the proportion of downstream users needs to be optimized. Expanding the downstream market and improving gas utilization will help meet diverse consumption demands and support long-term stability.
Fourth, balancing long-term contracts with spot contracts is essential. Long-term agreements are necessary to fund and support project development, while short-term and spot supplies can address temporary or emergency needs.
Lastly, the choice of resources from different regions must be carefully managed to ensure a stable and flexible supply chain.
China has been increasingly focusing on the growth of its LNG sector. Several regions, including Guangdong, Fujian, Zhejiang, Shanghai, Jiangsu, Shandong, and Liaoning, are planning or implementing LNG projects. These initiatives are expected to form a coastal LNG receiving and transmission network. While projects in Guangdong and Fujian have entered the formal implementation phase, others remain in the preparatory stage.
Inland, more than 40 LNG satellite stations, one peak-shaving station, and two LNG plants have already been built. Four additional LNG plants are under construction, and the planned capacity of receiving stations could reach up to 18 million tons per year by the end of the development period.
According to the “11th Five-Year Plan,†China's domestic LNG production capacity is expected to reach 90 billion cubic meters by 2010 and increase to 240 billion cubic meters by 2020. The country’s LNG industry is currently experiencing rapid growth, driven by both domestic and international efforts to secure a stable and sustainable energy future.
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