The bulk of
oil and gas production in North Asia comes from China. Onshore output
has reached a plateau. Its old giant fields are struggling to maintain
output whilst offshore production grows.
Again the bulk of gas production comes from China. Gas reserves in the
interior of the country are relatively undeveloped. With demand picking
up and new East-West gas pipelines, considerable growth in onshore
output is forecast, along with growth in offshore output as new fields
are exploited in the South China Sea.
Growth in oil consumption in China was the driving force
behind rising oil prices from 2003. High growth is forecast to continue
to 2017 as China massively increases its automobile population, albeit
easing off through 2009 as a result of the North American and European
Chinese oil imports along with those into the other economies of North
Asia make these countries the biggest importers in the world bar the
USA. Rapid growth is forecast from 2010 into China, only slowing near
the end of the decade.
Gas imports will also increase but less rapidly, with new supplies
coming chiefly from the former Soviet Union, Southeast Asia and
Australasia in both piped and LNG form.