China’s natural gas industry is set to undergo major transformations during the 14th Five-Year Plan period，a period of paramount importance for the creation of a unified national market in the context of market-oriented reform. In the face of international geopolitical volatility，during the early phase of the 14th Five-Year Plan period，China’s natural gas industry will continue to prioritize the safe supply of natural gas. Once international gas prices stabilize in the later phase of the 14th Five-Year Plan period，China’s natural gas market will continue to contribute to the achievement of the dual-carbon target and demand will resume its rapid growth. China’s natural gas futures was launched during the metaphase of the 14th Five-Year Plan period，which will bolster the development of the natural gas financial market and facilitate the determination of natural gas prices. The opening of PipeChina’s infrastructure for third party access will lead to greater diversification of upstream resources and increased marketization of prices. Enterprises in the natural gas industry will be confronted with dual changes in both policy and market conditions，resulting in a restructuring of the industry chain. During the 14th Five-Year Plan period，China will create a market environment of competition in the natural gas sector. With the evolving international situation，both domestic and foreign companies should take swift action to adjust their strategic and operational plans to keep up with the dramatic changes in the natural gas market and maximize their returns.