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Shanghai Commences LNG Project
May 02, 2007
Shanghai has launched a key energy supply project for transmitting LNG (Liquefied Natural Gas) from Malaysia to the economic hub in east China for over 25 years, as reported by the news agency Xinhua, published in DAILY EXPRESS NEWS on 27 January 2007.
The project will supply approximately 1.1 Million Tons per year in the initial three years and from 2012 it will rise to 3 Million Tons per year.
National Development & Reform Commission of China had approved this project in December 2006, said Xinhua. This project, together with the west to east gas pipeline of China and the East China Sea gas project will likely help in fulfilling the demands of energy for Shanghai, improving the efficiency of energy, and cutting the emissions, National Development & Reform Commission’s spokesman said.
Gas market in China looks promising owing to the increasing proportion of natural gas there. Natural gas is expected to completely replace the manufactured gas in near future. Therefore, steady development is foreseen in the LNG – natural gas’ complementary energy.
West east Gas Transmission Project’s operation is going to strongly affect the prices, demand and supply of other energies, and this will eventually transform the energy market structure in China.
Investment will be the key for the further growth of the gas industry in China. Huge investments will spur growth in all areas of the industry namely, marketing, development, transmission, and production.
As per the RNCOS report “Liquefied Natural Gas (LNG) in China”, “China will likely play a major importer of LNG in Asia-Pacific region for Australia and Middle East. Despite having ambitious LNG projects at hand, China needs massive funding for both domestic and international levels. Inadequate funds, in conjunction with high LNG pricing are playing a major obstacle for the growth of LNG industry in China.”
This research report “Liquefied Natural Gas (LNG) in China” provides extensive research and objective analysis of The LNG Sector of China. This report helps clients in analyzing the opportunities critical to the growth of The LNG Sector of China. Key issues covered in this report are: detailed overview of China LNG industry, LNG infrastructure, pricing & Supply & Demand in China LNG industry, market forces driving the industry & challenges faced by it, etc.
For more information visit: http://www.rncos.com/Report/IM0302.htm
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