International gas companies are set to lose billions of dollars of sales over the next decade, as China, their most voracious customer, aggressively develops its own huge gas reserves and drastically cuts its imported gas requirements, a new study shows.
As a result they have a limited window to export their growing new volumes of gas to China.
Industry consultant Wood Mackenzie concludes that China will need only half as much more liquefied natural gas (LNG) from 2020 onwards than it will require in the next decade and that it will need no additional gas transported by pipeline after 2020.
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