Page 20 - Oil&Gas-AustralAsia-2015-Issue-1
P. 20
C HINA
China’s LNG switch good for
emissions
By Marie RYAN
China’s rapid development toward the Blue Oak Tian Miao told media China’s frenzied pace, with imports up 30 per
use of natural gas, oil and renewables coal consumption dropped 2.9 per cent cent on previous years.
for national energy demand is proving in 2014 when compared to the previous According to customs data China’s state
successful in lowering the country’s year, the first drop in at least a decade. energy firms have focused on securing
own air pollution and keeping global China’s emission reduction is in line gas supplies from projects abroad and
emissions steady, garnering internation- with President Xi Jinping’s pledge to cap shipping it to LNG import terminals,
al praise. the country’s carbon output, predicting increasing investment in both the
According to report from China’s Na- emissions will peak then decline by upstream and downstream petroleum
tional Bureau of Statistics reviewed by 2030. The President promised to boost industry in the past several years.
Bloomberg, carbon dioxide emissions China’s share of non-fossil fuels to 20 China’s import capacity is estimated to
have dropped two per cent in the past per cent of the total energy mix over jump from 31 million tonnes per year
year, marking the first reduction in air that same time frame. to over 80 million tonnes by 2018 and
pollution in China in over a decade. The Xi administration also aims to to meet this increased demand more
Sophie Lu, a Bloomberg analyst in source 11.4 per cent of China’s electric- than 15 import terminals are already
Beijing reported the falling emissions ity from renewable supplies by the end under construction with another 13
reflect China’s slowing demand for of this year, a target China seems on terminals in planning and design stages.
coal-fired electricity, noting the nation’s track to meet. Analysts predict China will be import-
energy demand instead is shifting China’s climate policy has been com- ing upwards of 110 million tonnes of
toward more natural gas, renewable mitted to investing in energy efficiency LNG through its terminals over the
energy and oil. and industrial growth for many years next ten years as it phases out the use of
The International Energy Agency cited and rolled out its carbon reduction tar- coal-fired power stations.
China’s evolving energy consumption gets together with American President Industry observers say even with so
as one of the reasons why global carbon Barack Obama in November as part of much demand, Asian prices are ex-
emissions have remained level with- an international campaign to encourage pected to fall when Australian supplies
out economic turmoil. Stating global more countries to adopt similar climate hit the market in the next few years,
carbon emissions stood at 32.3 billion policies. further boosting Chinese demand.
metric tons in 2014, unchanged from 2015 will see almost 200 countries meet However the unknown element in Chi-
2013. to negotiate a global emissions treaty to na’s natural gas journey is if it chooses
Fatih Birol, the IEA’s chief economist, be signed at a United Nations-led con- to develop its own unconventional gas
said the findings were significant and ference in Paris at the end of the year. resources. The country is believed to
very welcome. “For the first time, Investment in natural gas, especially hold the world’s largest reserves of shale
greenhouse gas emissions are decou- LNG, for China’s growing population gas and hopes to replicate the US shale
pling from economic growth,” Mr Birol has risen to hundreds of billions, with gas production boom.
said. plans for the nation to more than Vice president of the International Gas
The IEA’s chief economist said the news double its natural gas supply capacity Union David Carroll said whether or
provides “much-needed momentum” to by 2020. not China develops its own natural gas
the global effort to slash greenhouse gas Chinese investment in LNG-related production could create a huge swing in
emissions. interests overseas and building new im- global demand. §
Beijing-based analyst at North Square port terminals has grown at an almost
A A18 OIL & GAS ustral SIA MARCH/APRIL 2015 www.oilandgasaustralasia.com
China’s LNG switch good for
emissions
By Marie RYAN
China’s rapid development toward the Blue Oak Tian Miao told media China’s frenzied pace, with imports up 30 per
use of natural gas, oil and renewables coal consumption dropped 2.9 per cent cent on previous years.
for national energy demand is proving in 2014 when compared to the previous According to customs data China’s state
successful in lowering the country’s year, the first drop in at least a decade. energy firms have focused on securing
own air pollution and keeping global China’s emission reduction is in line gas supplies from projects abroad and
emissions steady, garnering internation- with President Xi Jinping’s pledge to cap shipping it to LNG import terminals,
al praise. the country’s carbon output, predicting increasing investment in both the
According to report from China’s Na- emissions will peak then decline by upstream and downstream petroleum
tional Bureau of Statistics reviewed by 2030. The President promised to boost industry in the past several years.
Bloomberg, carbon dioxide emissions China’s share of non-fossil fuels to 20 China’s import capacity is estimated to
have dropped two per cent in the past per cent of the total energy mix over jump from 31 million tonnes per year
year, marking the first reduction in air that same time frame. to over 80 million tonnes by 2018 and
pollution in China in over a decade. The Xi administration also aims to to meet this increased demand more
Sophie Lu, a Bloomberg analyst in source 11.4 per cent of China’s electric- than 15 import terminals are already
Beijing reported the falling emissions ity from renewable supplies by the end under construction with another 13
reflect China’s slowing demand for of this year, a target China seems on terminals in planning and design stages.
coal-fired electricity, noting the nation’s track to meet. Analysts predict China will be import-
energy demand instead is shifting China’s climate policy has been com- ing upwards of 110 million tonnes of
toward more natural gas, renewable mitted to investing in energy efficiency LNG through its terminals over the
energy and oil. and industrial growth for many years next ten years as it phases out the use of
The International Energy Agency cited and rolled out its carbon reduction tar- coal-fired power stations.
China’s evolving energy consumption gets together with American President Industry observers say even with so
as one of the reasons why global carbon Barack Obama in November as part of much demand, Asian prices are ex-
emissions have remained level with- an international campaign to encourage pected to fall when Australian supplies
out economic turmoil. Stating global more countries to adopt similar climate hit the market in the next few years,
carbon emissions stood at 32.3 billion policies. further boosting Chinese demand.
metric tons in 2014, unchanged from 2015 will see almost 200 countries meet However the unknown element in Chi-
2013. to negotiate a global emissions treaty to na’s natural gas journey is if it chooses
Fatih Birol, the IEA’s chief economist, be signed at a United Nations-led con- to develop its own unconventional gas
said the findings were significant and ference in Paris at the end of the year. resources. The country is believed to
very welcome. “For the first time, Investment in natural gas, especially hold the world’s largest reserves of shale
greenhouse gas emissions are decou- LNG, for China’s growing population gas and hopes to replicate the US shale
pling from economic growth,” Mr Birol has risen to hundreds of billions, with gas production boom.
said. plans for the nation to more than Vice president of the International Gas
The IEA’s chief economist said the news double its natural gas supply capacity Union David Carroll said whether or
provides “much-needed momentum” to by 2020. not China develops its own natural gas
the global effort to slash greenhouse gas Chinese investment in LNG-related production could create a huge swing in
emissions. interests overseas and building new im- global demand. §
Beijing-based analyst at North Square port terminals has grown at an almost
A A18 OIL & GAS ustral SIA MARCH/APRIL 2015 www.oilandgasaustralasia.com
