Last Updated :
05 March 2008 at 15:20 IST
China expects to double natural gas output
Commodity Online
BEIJING: China’s leading
Natural Gas producer, PetroChina on Tuesday said China's natural gas output would at least double the present volume in the coming decade.
In a statement issued here, the company said the output is expected to reach 150 billion to 200 billion cubic meters and its own output has increased by 10 billion cubic meters for two consecutive years.
PetroChina produces about 75 percent of China's total natural gas output.
Recent discoveries of new gas fields, including Jidong Nanpu Oil Field in north China's Bohai Bay, which contains 1.18 billion tons of oil and gas reserves, would boost China's
Natural Gas sector and optimize its energy structure, the statement said.
China's natural gas output reached 69.31 billion cubic meters last year, up 23.1 percent year-on-year, according to China Petroleum and Chemical Industry Association.
Listed in Hong Kong and New York, PetroChina Company Limited is the listing arm of China National Petroleum Corporation (CNPC), the largest oil producer of China.
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