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
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
- Evacuation Technologies to Reduce Methane Releases During Pigging
- Editor’s Notebook: Nord Stream’s $20 Billion Question
- Enbridge Receives Approval to Begin Service on Louisiana Venice Gas Pipeline Project
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Russian LNG Unfazed By U.S. Sanctions
Comments