Gas businesses in China play a new role in global trade

Chinese gas businesses benefit from the diversification of supplies and the flexibility of the power generation system, in the transformation of the role of flexible suppliers worldwide. Wang Hayan, Deputy Director of Petrochina Trade ARM, the largest gas producer in China, said the company is looking for interests in exploration and production activities in harsh natural gas export projects, or flexible purchase agreements to support the shift of a buyer in foreign markets to a large trader. He added during a discussion session in the World Gas Conference in Beijing that the company is looking for its portfolio of the assets of the liquidation by 2030 to 35 million tonnes, which is a 75% jump compared to the current level. For China, it represents a shift in roles. Asia forms the most important source of demand and prices, while European countries played the role of the estuary because they accommodate shipping in the event of a glut in the offer. But the situation has changed after the Russian gas flow dramatically decreased via pipes after the invasion of Ukraine. Increased domestic production supports China’s new role, Zhou Yanian, director -general of the trade and commodity center in a ‘Sinock’ unit, the largest imported gas imported company in China, has become the role of the balanced the European market used by China. The reason for this is very simple; that China has an abundance of supply from various sources. ‘ For example, Zhou explained that China reduced the import of gas by about 20% during the first quarter, as it sent the shipping to Europe, where gas prices rose. China has compensated about 75% of this gap by increasing domestic production and increasing imported imports by increasing pipelines. The Asian state also increased the generation of clean energy after installing a record number of wind turbines and solar panels, according to Chu. But other important sectors of gas demand, such as factories and transport and heating, were less flexible. The pursuit of profits also represents one of the motives for the transformation in the role of China.