PetroChina's East China Gas Sales Rise
PetroChina’s sales branch for eastern China has sold almost 37bn m3 of natural gas from January 1 to October 19, up 15% year on year, CNPC, PetroChina’s parent company, said October 22.
The sales volumes during the period are highest “in recent years”, CNPC said, adding that supplies have increased to 20mn m3/d since early September. PetroChina is working closely with other major energy firms like Sinopec and Cnooc to make sure supplies are adequate during the winter season, CNPC said.
PetroChina is preparing to supply sufficient gas to meet demand in the winter season, which runs from November to March. Earlier this month State-owned Assets Supervision and Administration Commission of the State Council (SASAC) said in a report that PetroChina will focus on fully utilising its three LNG terminals at Jiangsu, Tangshan and Dalian by increasing its procurement of LNG, especially on the spot market.
China’s gas consumption has been trending higher since early-2017 thanks to the government's aggressive policy of switching from coal to gas. Some areas in the north of the country faced severe gas shortages last winter. The government is working to ensure that this situation is not repeated this winter.