2025年中国天然气发展述评及2026年展望OACHSSCD

In 2025,China's natural gas market demonstrated resilience and there are advances and retreats on the index of various segments of the industrial chain with some highlights that includes historic breakthroughs in deep and unconventional natural gas exploration,with the discovery of two additional shale gas fields each holding over 100 billion cubic meters of reserves,the highest annual growth in natural gas production during the 14th Five-Year Plan period,marking the ninth consecutive year with an increase exceeding 10 billion cubic meters,a sharp decline in LNG imports,leading to a drop in both total import volume and average import price,sluggish market demand resulting in a steep slowdown in natural gas consumption growth,significant progress in natural gas infrastructure,with steady improvements in transmission,distribution,storage,and supply guarantee capacity,new policies driving deeper reforms in the natural gas system and mechanisms,and the launch of China's first pipeline natural gas spot price by the Shanghai Oil and Gas Trading Center,marking new progress in the marketization of natural gas prices.Looking ahead to 2026,China's natural gas industry is expected to continue enhancing reserve development,production,and supply capacity to foster market growth.Reserve increases are projected to remain sustained,with production growth kept at a scale exceeding 10 billion cubic meters.Natural gas imports are anticipated to return to positive growth,while import prices are expected to continue declining.Market demand is likely to stabilize and supply and demand would be balanced in a moderately loose market.