That’s an increase from 340Bcf/d in 2015, according to latest projections from the US Energy Information Administration (EIA).
China is forecast to account for more than a quarter of all global natural gas consumption growth between 2015 and 2040, driven by environmental policies, relative cost competitiveness of natural gas in the industrial and transportation sectors and relatively higher economic growth.
The EIA states the nation’s 13th Five-Year Plan aims to reduce air pollution and carbon emissions by promoting natural gas in its energy mix, replacing some coal and oil use.
The Chinese Government has set targets to increase its share of natural gas in the primary energy mix from 5.9% in 2015 to 10% by 2020 and 15% by 2030.
The EIA projects China’s natural gas use to grow to 57Bcf/d in 2040 – from 19Bcf/d, surpassing all other countries except the US.
The US is expected to see a “more modest” growth, from 75Bcf/d to 88Bcf/d in 2040, remaining the world’s largest natural gas consumer.