Abstract: The multi-source and multi-user annular natural gas pipeline network reconstructed from the old natural gas pipelines is characterized with uneven distribution of gas sources, different capacities and characteristics of gas supply, low pressure bearing capacity of the old sections, high pressure of gas supply to user, large gas consumption and great consumption fluctuation. In order to study the supply and demand balance of such pipeline network when it is put into operation in the future, a simulation model of pipeline network was established with the SPS software, including the LNG receiving terminal, the two loops of offshore-gas supply, the pipelines and ancillary facilities, and various end users.Then, the pressure parameters of the offtake stations under the operating conditions of existing natural gas pipelines were simulated, and the maximum relative error between the simulation results and the actual operating data was 1.98%, which verified the reliability of the model. Based on that, simulation was performed for the entire model in accordance with the simulation principles of process, energy efficiency, operation, etc., and the forecast data of supply and demand in different periods of time, as well as the optimal peak shaving mode of the external transportation facilities of the LNG receiving terminal, were obtained. The study results could provide reference for the operation management of the multi-source and multi-user annular natural gas pipeline network.