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
- Biogas in France: TotalEnergies starts its 2nd largest unit in Normandy
- ONEOK announces joint ventures with MPLX to build LPG export terminal at U.S. Gulf Coast location
- Ukraine plans to import 800 MMm3 of gas until April after Russian strikes
- Parker Hannifin joins iHAPC project to test H2 and argon for cleaner and more energy-efficient engine technologies
- India's BPCL signs LPG supply deal with Norway's Equinor
Comments