Natural gas project set to help attain carbon neutrality target By ZHENG XIN in Beijing and TAN YINGZI in Chongqing | China Daily | Updated: 2021-04-08 07:05 Share CLOSE Sinopec employees check natural gas equipment in Guangyuan, Sichuan province. [Photo by Hu Qingming/for China Daily]
A major natural gas project under construction in southwestern China will further facilitate the government s efforts to achieve peak carbon dioxide emissions by 2030 and reach carbon neutrality by 2060, said an analyst.
The project will contribute substantially to the country s carbon neutrality goal, helping China achieve its target in terms of decarbonizing the industry and power sectors by switching from coal to gas in the coming years, said Cao Lujia, an analyst at BloombergNEF.
Natural gas project set to help attain carbon neutrality target
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Natural gas project set to help attain carbon neutrality target
chinadaily.com.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chinadaily.com.cn Daily Mail and Mail on Sunday newspapers.
Gas Based Economy
The Government of India seeks to increase the share of natural gas in India’s commercial energy basket from 6.3 percent in 2019 to 15 percent by 2030 to make India a ‘gas-based economy’. To reach the target of 15 percent, annual growth in consumption of natural gas has to increase from less than 5 percent in the last decade (less than 3 percent in 2019) to well over 10 percent in the next decade. India’s natural gas consumption in 2019-20 was about 175 mmscmd. To increase consumption to 600 mmscmd by 2030, the annual growth rate in consumption has to be more than 13 percent. This is not an impossible target. In the period 2008-2018, natural gas consumption in China grew by over 13 percent. Behind this double-digit growth rate for natural gas consumption in China was an annual average economic growth rate of over 8 percent, regulatory reform for transparency and flexibility along with focussed policy mandates.
China’s Largest Natural Gas Base Ramps Up Production Amid Cold Wave
Natural gas producers in the Sichuan Basin, China’s largest natural gas base, are stepping up their production capacities to deal with the cold wave sweeping across the country.
In southwest China’s Sichuan Province and Chongqing Municipality, located in the Sichuan Basin, urban gas consumption has risen from 50 million cubic meters per day to 70 million cubic meters per day, a 40 percent increase from the peak of the same period last year, according to the PetroChina Southwest Oil and Gasfield Company, one of the major energy developers in the basin.