Gazprom Delighted By China Announcement Nat Gas Need To Soar By 150% In 6 Years

"It may comes as a surprise to many, if certainly not the country known as Gazpromia, that according to a government statement released on Wednesday, China will raise its natural gas supply to a whopping 420 ­billion cubic meters per year by 2020 on soaring demand due to urbanization, a government statement said on Wednesday. This compares roughly 168 bcm in gas used in 2013, which means somehow China hopes to boost gas production by over 150% in just 6 years.

The increased supply will ­cater to the rising demand for natural gas in people's daily lives, schools, nursing homes, home heating, as well as in buses and taxis, according to a statement published on the central government's website.

According to Global Times, the supply increase is also driven by the nation's efforts to mitigate air pollution stemming from an over-reliance on coal, the statement said. Sounds familiar - only problem is that the same narrative, used in the US time and time again, has achieved virtually nothing in fixing said over-reliance on coal.

Global Times adds that tTo expand natural gas production, investment in gas storage facilities as well as their construction and operation will be open to all market players, the statement said.

And the best news for gas E&Ps: companies will also have the option to issue bonds to raise capital for the construction of storage facilities. The government will offer favorable land policies for ­sto­rage facility projects, the statement said..."

at http://www.zerohedge.com/news/2014-04-24/gazprom-delighted-china-announcement-nat-gas-supply-and-demand-soar-150-6-years