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China Gas Demand Forecast Cut by CNPC Researcher Amid Slowdown

  • Gas demand may reach 269 bcm under `low case' scenario
  • Russia's target to supply 100 bcm per year to China possible

China may consume less natural gas by 2020 than previously estimated, partly because of a slowdown in the world’s second-biggest economy, said a China National Petroleum Corp. research body.

CNPC’s Economics and Technology Research Institute lowered China’s natural gas demand forecast to 269 billion cubic meters in its worst-case outlook through the end of the decade, according to a presentation Wednesday by Wang Zhen, deputy director general at CNPC’s policy research office. The institute previously estimated that China would consume about 300 billion cubic meters of the fuel by 2020.