CNPC to raise natural gas reserve capacity

13:48, February 25, 2010      

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The China National Petroleum Corp (CNPC) plans to build 10 natural gas reserve bases during 2011 and 2015, with total capacity of 22.4 billion cubic meters, said Liao Yongjian, vice general manager of the company February 24.

CNPC is China's biggest natural gas producer and contributes around 80 percent to China's overall natural gas output. The West-to-East transmission natural gas projects, built by the CNPC, passed the national check-up and acceptance on February 24. In 2009, the projects transmitted 18.6 billion cubic meters of natural gas. The figure was only 43 million cubic meters in 2003.

Although the transmission of natural gas increased significantly in recent years, surging demand has led to "gas shortage" at the end of 2009.

Liao noted that during the 11th five year plan period, the CNPC finished construction of 9 natural gas reserve bases and two will complete in 2010.

Currently, the capacity of China's natural gas reserve system accounts for only 3 percent of the country's total natural gas sales.

Wu Yin, deputy head of National Energy Bureau, urged natural gas producers to speed up construction of the reserve system.

"After the 12th five year plan, reserve bases will take up 8 to 10 percent of total natural gas sales, a much higher ratio compared with current level," said Liao.

In other countries, reserve systems on average take up around 10 percent of a country's natural gas consumption.

By People's Daily Online
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