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$27 Billion Required to Fulfill Demand

According to an official from China's State Development and Reform Commission...

According to an official from China's State Development and Reform Commission (SDRC), China will need $27 billion invested in developing its natural gas industry by 2020.

Bai Rongchun, director of the SDRC's Energy Bureau, said at the eighth International Conference on Northeast Asian Natural Gas and Pipeline that China's natural gas industry was developing rapidly. The $27 billion would be used to build 50,000 km of pipelines, liquefied natural gas (LNG) stations and LNG transportation facilities.

The government is making a long-term plan to better exploit and utilize natural gas to speed up national energy security. Meanwhile, it would improve regulations and laws and set up an open and fair environment for both domestic and overseas investors.

The government welcomed foreign investors to cooperate in the natural gas sector and had modified related regulations and loosened controls, said Bai.