Sinopec to increase gas output by 5% in 2022
Chinese state-run Sinopec plans to produce 1,256.7bn ft3 or 35.59bn m3 of natural gas in 2022, up 4.8% year/year, the company said in its annual report published on March 27. The growth target this year is much lower than the growth rate of 11.9% in 2021.
The company’s planned capital expenditure in 2022 is 198bn yuan ($31bn), up from 167.9bn yuan in 2021. This year Sinopec has allocated 81.5bn for the exploration and production segment, including the construction of crude oil production capacity in Shunbei and Tahe oilfields, and natural gas production capacity in Western Sichuan, Dongsheng and Zhongjiang and the construction of storage and transmission facilities such as Longkou LNG import terminal.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
In terms of natural gas development, the company said it will accelerate the capacity building of Dongsheng and Western Sichuan gas fields, further expand and tap the potential of Puguang, Yuanba gas fields, and deepen the development adjustment of the Fuling gas field.