IEA: China seen doubling gas demand by 2017

China will more than double its gas consumption over the next 5 years, while lower prices from the unconventional gas revolution will continue to benefit the US, according to a new report from the International Energy Agency. IEA's Medium-Term Gas Market Report 2012, released June 5 at the World Gas Conference 2012 (WGC 2012) in Kuala Lumpur, says China will become the third-largest importer of gas behind Europe and Asia Oceania, driving a 2.7%/year average growth in global gas demand through 2017. This is up from the 2.4%/year growth rate predicted in last year's report. Also during the period, North America will become a net exporter of LNG, although low gas prices will result in gas ge...

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