China's Sinopec to supply 15.1 Bcm of gas for winter, up 13% y/y
BEIJING (Reuters) — China’s Sinopec expects to supply 15.1 Bcm of natural gas for winter and early spring amid surging demand from a government push to gasify northern cities, the company said on Thursday.
The supply volume is up 13% from the year-ago period, Sinopec said.
“In winter heating season, we expect residential gas consumption to surge in northern China. In southern China, demand from gas-fired power plants will also increase significantly,” the oil and gas operator said in a statement.
Sinopec said it will run its four major gas fields, including Puguang, Fuling, Yuanba and Daniu, at full capacity and will pipe 5.9 Bcm through the Sichuan to eastern China natural gas arteries. Another 4 Bcm of supply will go through Sinopec’s north China pipeline.
The producer also plans to operate its liquefied natural gas terminals at full capacity and fill up all the storage facilities before heating starts.
Sinopec said it will speed up the construction of key shale gas projects, such as the Fuling and Pingqiao shale gas blocks in in southwestern Sichuan province.
Reporting by Meng Meng and Aizhu Chen; Editing by Biju Dwarakanath
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