PetroChina, local firms start building Chongqing gas storage
BEIJING (Reuters) - PetroChina and local firms in southwestern Chongqing municipality started building a new underground storage for natural gas, as part of China’s efforts to boost supplies for the cleaner fuel, PetroChina’s parent CNPC said.
The new facility, able to store 1.5 billion cubic meters of natural gas a year, will be built out of the depleting gas field Tongluoxia in mountainous Chongqing.
PetroChina and a strategic partner will take a combined 57 percent stake in the project and the remaining 43 percent will be taken up by a state-owned Chongqing firm as well as “private capitals”, CNPC said on its news portal.
It did not give details on the investment or names of the local firms.
Beijing has called state energy producers and local piped gas distributors to add storage facilities to cope with demand spikes, after a severe supply crunch last winter exposed the weak link in storages.
When completed in 2020, the Tongluoxia storage will be able to supply 9 million cubic meters of gas a day during peak demand season, enough to cover use by four million households, CNPC said.
Reporting by Chen Aizhu; Editing by Gopakumar Warrier
- Gasum powers Equinor's platform supply vessel with bio-LNG
- ADNOC deploys pioneering AI-enabled process optimization technology
- Mexico Pacific announces long-term LNG SPA with POSCO International
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- Golar LNG signs EPC deal for $2.2-B MK II FLNG conversion project
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- Picarro launches handheld solution for natural gas leak investigation and closed-loop leak management
- Fincantieri LNG-powered Star Princess launched in Monfalcone
- Oman plans third LNG train, boosting domestic production to more than 15 MMtpy
- Brazil's fossil push undermines Lula's green ambitions
Comments