Forecast: Gas Production in China

China's gas production has experienced consistent growth over the past decade, with actual production reaching 22.77 Billion Cubic Feet Per Day in 2023. The year-on-year growth rate for 2023 was 6.06%, indicating a steady upward trajectory. Over the last two years, the average annual growth hovered around 6.05%, while the growth rate over the past five years demonstrated a CAGR of 7.83%. The projected outlook for 2024 and beyond continues this trend with a forecasted 5-year CAGR of 3.93%, translating to a forecasted growth rate of 21.25% by 2028.

Trends to Watch For:

• Technological advancements in gas extraction and production
• Policy changes promoting sustainable and greener energy sources
• Shifts in global energy demand and their impact on China's exports