CNPC building new gas storage facility to bolster winter gas supply

摘要

Chinese state-backed energy major CNPC is rolling out a raft of gas storage, processing and production initiatives in a bid to improve unreliable gas supplies that left some urban conurbations in the cold when demand for heating spiked last winter. The company is building a new 1.5 Bcm capacity underground storage facility in Chongqing City in south-west central China, at a depleted gas field known as Tongluoxia that began production in 1987. CNPC and “strategic partners” will own 57% of the project, with “state-owned and private capital” owning the rest.