As China seeks a future with blue skies, it鈥檚 only natural to go gas
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As Shanghai strives to become a major global city and a world leader in green energy, natural gas will play an increasingly important role, Mayor Ying Yong said yesterday.
鈥淲e will make full use of resources and markets from both abroad and at home to frame a more diverse energy structure,鈥 Ying said on the opening day of the 19th International Conference & Exhibition on Liquefied Natural Gas.
National Energy Administration chief Zhang Jianhua told the conference that China was now one of the most vibrant LNG markets in the world, but said the industry needed to consolidate.
LNG has the potential to become Asia鈥檚 dominant energy source as the region moves away from coal, but Zhang and other speakers said the sector must work together to fend off challenges from other fossil fuels and renewables.
鈥淔or a long time, LNG was constrained by the high cost of its storage and transport. A global LNG market has yet to form and the pricing mechanism does not reflect fundamentals yet,鈥 Ying said.
鈥淭he LNG industry needs to work together to reduce costs and improve its competitiveness against other fuels.鈥
Mike Wirth, chairman and CEO of Chevron Corporation, one of the world鈥檚 largest LNG suppliers, told Shanghai Daily: 鈥淟NG will be an important fuel in China as part of its mixed economy growth, We intend to have partnerships and relationships with many people in China and be part of the country鈥檚 energy future.
鈥淭here is no realistic achievable plan to address the climate change problem that doesn鈥檛 involve natural gas.鈥
Qatar鈥檚 energy minister and president and CEO of Qatar Petroleum, Saad Sherida Al-Kaabi, told Shanghai Daily that demand for gas will continue to grow amid rising environmental and climate change concerns and widespread global moves toward more abundant, cleaner and cost-effective fuels.
The tiny Gulf state is the world鈥檚 largest exporter of natural gas and has almost 15 percent of the world鈥檚 known reserves. The country provides 22 percent of China鈥檚 gas imports over the past decade.
China is the world鈥檚 second-largest importer of LNG, buying in 53.78 million tons last year for US$26.5 billion 鈥 almost double what it paid for 38 million tons in 2017.
Jim Muschalik, manager of global market development at ExxonMobil, told Shanghai Daily China鈥檚 policies could be a solid reference for other countries.
鈥淎ll you have to do is look at China in terms of the success gas can bring to the environment,鈥 said Muschalik. 鈥淐hina has shown great leadership shifting from coal to more gas which brings clearer air and a blue sky.鈥
The country is also expanding its LNG import and distribution infrastructure.
The ministry of transport plans to quadruple the country鈥檚 import capacity from its 21 terminals within the next two decades. The country鈥檚 coastal cities are a strong example of growing demand.
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