Environmental, economic shift to transform energy demand

In the next 30 years, natural gas will be the fastest-growing energy product in China, with demand reaching about 520 billion cubic meters in 2030 and 800 billion cu m in 2050, said the Chinese Academy of Social Sciences.

According to its recent report on China's energy prospects, the next 30 years will witness a huge structural change in China's energy demand, owing to the combined effects of supply-side reform and economic growth path changes. By 2050, coal will account for less than 40 percent of the nation's energy demand, while the ratio of natural gas will increase sharply to more than 20 percent.

"China's economy has shifted from a high-speed growth stage to a high-quality development stage. Promoting green development, establishing a sound economic system with green and low-carbon recycling, as well as strengthening energy saving, and environmental protection and clean energy industries are the future trend, which offer great opportunities for the development of natural gas industry," said Cai Fang, deputy head of CASS.