(Yicai Global) Oct. 13 -- A consumption spike has caused an increase in China's dependence on imported natural gas since the start of this year, a market insider said at the three-day Energy China Forum 2017, which opened in Shanghai on Oct. 11.

China's natural gas production totaled 97.8 billion cubic meters in the first eight months, up 10.8 percent from the same period a year ago, data from the National Development and Reform Commission shows. Consumption soared to 150.4 billion cubic meters, up 17.8 percent, while imports leapt 24.8 percent to 57 billion cubic meters, state-owned news agency Xinhua reported yesterday.

Natural gas makes up about 6 percent of China's total energy consumption. The figure is set to reach 10 percent in 2020 and 15 percent by 2030, putting national gas consumption at 700 billion cubic meters in around 13 years, an industry expert at the forum predicted.

The continuous rise in consumption has led to a steady increase in imported natural gas. Roughly 35 percent of the fuel consumed in China last year, with most imports coming from Australia, Qatar and Malaysia. Canada and the US also look likely to become key exporters in the near future.

Given the glut of supplies in the global market, and the fact that many producers are bullish about the Chinese market, the world's second largest economy does not need to worry about supply and will have even more choices in future, the expert added.