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China sets natural gas development targets


10:17, December 04, 2012

BEIJING, Dec. 3 (Xinhua) -- China plans to add 3.5 trillion cubic meters of proved conventional natural gas reserves during the 2011-2015 period, according to a latest development plan.

The plan, compiled by the National Development and Reform Commission and approved by the State Council, also said that explorable reserves will reach around 1.9 trillion cubic meters.

It was released Monday by the National Energy Administration in a statement.

By 2015, China aims to bring its natural gas supply capacity to around 176 billion cubic meters, making the energy reachable to 250 million people, or 18 percent of the population, according to the statement.

The development plan comes as China's appetite for natural gas has grown substantially with the country's industrialization and urbanization initiatives amid government's efforts to cut carbon emissions.

Currently, natural gas makes up only around 4.6 percent of the country's primary-energy consumption, much lower than the international average of 23.8 percent. This leaves room for exploration potentials as the geological reserves of China's conventional natural gas is estimated at 52 trillion cubic meters, according to the statement.

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