Chinese gas extraction raised in August

According to the latest data from the National Bureau of Statistics, China extracted nearly 12BCM (11.95)  of natural gas in August, up 11.7% y-o-y. However, the August’s increase was slightly smaller compared with a year-on-year increase of 14.7% in July.

Chinese government promotes gas extraction as alternative energy source in drive to reduce pollution caused by consumption of coal.

During the first eight month of this year, natural gas extraction totaled 97.77 BCM, rising 9.2% from the year prior, compared with 8.8% increase rate over Jan.-July period.

Meanwhile, robust demand also promotes import growth of natural gas. In August, the country imported 56.6 million tonnes of gas, surging 69.5% from a year ago. During the first eight months, natural gas imports increased 25.5% on the year to 42.46 million tonnes.

Source: NBS