Home Facts industry

CNPC to build 10 gas storage facilities

CNPC to build 10 gas storage facilities

Write: Sakda [2011-05-20]

BEIJING, Feb 25 (Reuters) - China CNPC, the country's top oil and gas producer, plans to build 10 gas storage facilities in the run up to 2015 to better prepare for potential future shortages, domestic media reported on Thursday.

The facilities will be able to store 22.4 billion cubic metres of natural gas and will be mainly located in gas source and consumption centres including Xinjiang and northern China, Liao Yongyuan, vice president of CNPC, told the 21st Century Business Herald.

That volume would be around 20 percent of China's total gas demand last year.

China's gas supply fell severely short of demand this winter, causing many problems for the transportation and residential sectors.

The National Energy Administration has vowed to build more gas storage bases across the country to avoid a recurrence.

PetroChina (0857.HK), the listed arm of CNPC, has said that it plans to build the country's largest gas storage facility with capacity of 12 billion cubic metres in the Changqing oil and gas field.