China speeds up gas production, supply and sale system

By Wang Jihong & Liu Ying, Zhong Lun Law Firm
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On 30 August 2018, the State Council issued Several Opinions on Promoting Co-ordinated and Stable Development of Natural Gas, which gave some specific and practical opinions in terms of natural gas production, supply, storage and sale.

Wang JihongPartnerZhong Lun Law Firm
Wang Jihong
Partner
Zhong Lun Law Firm

As one of the world’s biggest gas consumers, China contributed more than 30% to the increase in world natural gas consumption in 2017, becoming the main driving force for the development of natural gas around the globe. However, China’s domestic natural gas production growth rate is lagging behind that of consumption. In 2017, the annual consumption was 238.6 billion cubic metres, surpassing output of 148 billion cubic metres.

The exploration and exploitation of natural gas in China is underdeveloped, far below the world average. The opinions specifically require a strengthening of capacity in domestic exploration and development, encouraging the oil and gas companies to increase investment and working in exploration and exploitation, with the objective of achieving a domestic production volume of more than 200 billion cubic metres by the end of 2020.

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Wang Jihong is a partner and Liu Ying is a senior associate at Zhong Lun Law Firm

zhong lun law firm

Zhong Lun Law Firm

33, 36, 37/F, SK Tower, 6A Jianguomenwai Avenue

Chaoyang district, Beijing 100022, China

www.zhonglun.com

Contact details:

Tel: +86 10 5957 2288
Email: wangjihong@zhonglun.com
Tel: +86 10 5087 2713
Email: liuying@zhonglun.com

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