In 2023, China's gas production stood at 8.47 Exajoules. Forecasted data from 2024 to 2028 shows a steady increase in production. Year-on-year growth is as follows: 2024 (5.5%), 2025 (5.3%), 2026 (5.0%), 2027 (4.8%), 2028 (4.5%). The Compound Annual Growth Rate (CAGR) over these five years is approximately 5.0%. This indicates a consistent uptick in production, albeit with a slight deceleration.
Future trends to watch for:
- Technological advancements improving extraction efficiency.
- Policy changes impacting energy production strategies.
- Global demand shifts influencing domestic production rates.
- Development in renewable energy potentially affecting future gas consumption.
