Energy consumption in China will retain low growth rates in the medium and long term, expert says

Almaty. August 23. Silkroadnews – Energy consumption in China will retain low growth rates in the medium and long term, such an opinion was expressed by senior researcher at the Research Institute for Energy at the National Development and Reform Commission Han Wenke, «Xinhua» agency says.

According to Han Wenke, low energy consumption growth was recorded in the country in 2015 and is expected to continue for the 13th Five-Year Plan (2016-2020).

The preliminary data shows, over the next five years the country will retain coal consumption negative growth, electricity consumption growth will not exceed 3%, while the growth in oil consumption is expected to stand at about 3%.

Currently, China's domestic market has surplus inventories of combined heat and power capacities, due to imbalance of supply and demand for energy. In this regard, Han Wenke notes, the Chinese authorities plan to expand use of clean energy and apply market and pricing mechanisms in the electrical and oil and gas industries.

The new plan provides for natural gas consumption increase up to 350 billion cubic meters by the end of 2020.

According to the National Development and Reform Commission, in the first half of this year the country's natural gas consumption grew by 9.8% to 99.5 billion cubic meters. The experts note, the implementation of the task is possible through progressive reforms in energy supply.