Forecast: Natural Gas Primary Energy Production in China

China's natural gas primary energy production has demonstrated steady growth from 2013 through 2023, increasing from 1.21 to 2.4 hundred billion cubic meters. The annual growth rate has generally ranged between 1.68% and 10%, with the last five years showing an average annual growth (CAGR) of 8.41%. Specifically, the production grew 7.58% from 2021 to 2022 and 7.01% from 2022 to 2023.

Looking forward, forecasts indicate continued growth to 3.17 hundred billion cubic meters by 2028, with a projected average annual growth rate (CAGR) of 4.42% over the next five years. This reflects a total growth rate of 24.17% from 2024 through 2028.

Future trends to watch for include:

  • China's policies and initiatives to enhance domestic natural gas production capacities and infrastructure.
  • Technological advancements in extraction and exploration techniques.
  • Shifts in global natural gas prices and their impacts on domestic production decisions.
  • Environmental regulations and their influence on natural gas production and consumption patterns.

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