According to the latest World Energy Outlook Report issued by the International Energy Agency (IEA), China, as the driving force of global demand, will become the world's top natural gas importer by 2040, and its net import of natural gas will be close to the level of the European Union, foreign media said.

China has become the second largest importer of natural gas in the world?

On November 13, it was reported that China had surpassed Korea as the world's second largest importer of liquefied natural gas (LNG) in 2017, and Japan was looming to surpass the top ranking. By 2040, China's annual natural gas imports will reach 369 billion cubic meters, while the EU, the world's largest natural gas buyer, will only import 4 billion cubic meters more. In 2017, the gap between the two sides reached 243 billion cubic meters.

However, Reuters reported on November 13 that China has replaced Japan as the world's largest natural gas importer, based on estimates from the General Administration of Customs.

Although China is now the third largest natural gas consumer in the world after the United States and Russia, about 40% of China's natural gas demand has to rely on imports because domestic production has not kept pace with demand growth, according to the report.

China's becoming a world super energy market will benefit LNG exporters and Russian pipeline supplier Gazprom PJSC, whose first gas pipeline connecting China, named Siberian Power, will be completed in 2019.