PipeChina Invests $3.8 Billion to Boost Gas Infrastructure Ahead of Winter
BEIJING (Reuters) — China Oil and Gas Pipeline Network, or PipeChina, said it has invested 24.45 billion yuan ($3.8 billion) to expand its gas infrastructure, aiming to add a daily gas supply capacity of 60 million cubic meters by end of this year.
Amid a severe power crunch, China's central government has been urging energy firms to step up efforts to boost gas supply before winter heating demand emerges in mid-November.
PipeChina expects gas transmission capacity via its 49,000 kilometers pipeline network to reach 268 billion cubic meters (bcm) per annum, allowing it to supply more than 110 bcm of natural gas this winter and next spring, it said in a statement.
The company also said it had started to purchase gas for emergency use and would ensure that those resources would be stored at gas terminals and storage tanks before end-October.
Related News
Related News
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
Comments