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What will be China's natural gas storage levels at the end of 2024?
3
Resolution / Starting Odds
90-95% • 25%
95-99% • 25%
100% • 25%
Less than 90% • 25%
Official reports from China's National Development and Reform Commission or other government announcements
Story
China Increases Natural Gas Storage and Buys 16 Million Barrels of Oil Amid Low Prices
Sep 9, 2024, 09:03 AM
China is significantly increasing its natural gas storage and oil reserves in anticipation of future demand and to take advantage of current low prices. The country's underground natural gas storage facilities, such as Huabei near Beijing, have reached 83% of their annual injection target. Concurrently, Chinese refiners are purchasing approximately 16 million barrels of oil monthly to replenish the nation's Strategic Petroleum Reserve, according to Energy Aspects. Bloomberg cites that this strategic move aims to bolster China's energy security ahead of winter and potential economic slowdowns. Beijing only rarely comments on its national crude reserves.
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Less than 5% • 25%
5% to 10% • 25%
10% to 15% • 25%
More than 15% • 25%
Yes • 50%
No • 50%
Russia • 25%
Australia • 25%
Turkmenistan • 25%
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Increase by more than 10% • 25%
Increase by 5-10% • 25%
Increase by less than 5% • 25%
No significant increase • 25%
55-60 GW • 25%
60-65 GW • 25%
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Above 220 million barrels • 25%
Between 210 and 220 million barrels • 25%
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Less than 1 million cubic meters/day • 25%
1-1.25 million cubic meters/day • 25%
1.25-1.5 million cubic meters/day • 25%
More than 1.5 million cubic meters/day • 25%
Increase by more than 10% • 25%
Increase by 0-10% • 25%
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Decrease by more than 10% • 25%
Above $3.3 trillion • 25%
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Between $3.1 trillion and $3.2 trillion • 25%
Below $3.1 trillion • 25%
More than 10 billion cubic meters per year • 25%
5-10 billion cubic meters per year • 25%
1-5 billion cubic meters per year • 25%
Less than 1 billion cubic meters per year • 25%
