In terms of consumption, according to Eurostat data, the average consumption of natural gas in the five years from 20 17 to 20021year was 402.909 billion cubic meters, and in 2022 it was 355.937 billion cubic meters. Assuming that in 2024, the EU will continue to maintain the goal of reducing 15% compared with the previous five years (20 17-202 1), then the consumption in 2024 will be about 342.473 billion cubic meters. However, according to EIA, it is estimated that natural gas consumption in Europe will maintain a moderate growth of 2% in 2024, mainly driven by the demand for civil and commercial gas and industrial gas, and power consumption may decline.
On the supply side, as of June, 2023, 65438+1October, 65438+ 10/(40 weeks), the EU's supply was 230.8 billion cubic meters. Assuming that the weekly supply at the end of the year is consistent with the 40th week, the total supply in 2023 will be 293.4 billion cubic meters. Assuming that the supply in 2024 is consistent with that in 2023, it will be 293.4 billion cubic meters. However, it should be noted that Russia's pipeline transshipment contract through Ukraine will expire at the end of 2024, Ukraine has ruled out the possibility of renewing the contract, and the closure of Groningen gas field in the Netherlands has brought risks to supply.
In terms of gas storage, the average gas storage inventory in the EU at the end of the last five years was 79.84 billion cubic meters (65438+3 1 February), but it is currently 10765 billion cubic meters (1October+April), assuming that it will be 165438 in 2023.
Natural gas resources in China
China is rich in natural gas resources and has great development potential. By the end of 2020, the proven recoverable reserves of natural gas in China are 8.4 trillion cubic meters, mainly distributed in Tarim, Sichuan, Ordos, the East China Sea shelf and the northern South China Sea.
According to China Natural Gas Development Report (2022), in 20021year, China's natural gas newly proved geological reserves162.8 billion cubic meters, of which conventional gas, shale gas and coalbed methane reached 805 1 billion cubic meters, 745.4 billion cubic meters and 779 billion cubic meters respectively.
Because China's natural gas resources are mainly concentrated in the western region and the economically developed central and eastern regions are relatively scarce, the construction of natural gas pipelines has become an important driving force for the application and development of natural gas in China.