Global Markets

CNPC to cut industrial gas supplies as shortages forecast

CNPC plans to curb gas supply to industrial users by 3-10% because of expected gas shortages this winter.
By Staff reporter 6 November 2017 0 28263

China National Petroleum Corp. (CNPC) plans to curb gas supply to industrial users by 3-10% because of expected gas shortages this winter following a massive coal-to-gas switching campaign, the state-run China Youth Daily newspaper reported on Monday.

CNPC expects the switch to increase gas consumption by 12% year on year, according to the report.

CNPC can provide only around 76.5 billion cubic metres of gas, even if it runs its gas fields and LNG terminals at capacity, which is lower than current demand of 81.3 bcm.

The company...