July 9, 2012, 9:30 a.m. EDT
NEW YORK, LONDON, BERLIN and PARIS, July 9, 2012 /PRNewswire via COMTEX/ -- China is set to increase its gas imports and production to meet the ballooning demand as the country's natural gas consumption is set to almost treble over the next eight years. The Asian giant will now draw from all available sources to keep up with demand, expect energy industry analysts in a latest research report titled - Increasing Natural Gas Demand in China - Diversification of Gas Sources to Ensure Future Supply.
According to this research, China's natural gas consumption was 131.7 billion cubic meters (bcm) in 2011, already a steep rise from the 2000 figure of 24.5bcm. However, consumption levels are predicted to soar even higher to reach 375 bcm by 2020, thanks to the country's desire to increase share of natural gas in its energy mix.