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Project Insights

Sinopec sets out long-term gas ambitions in home market

China’s second-largest gas producer plans to take a larger share of its domestic market, buoyed by increasing production and favourable regulatory changes China’s second-largest gas producer plans to take a larger share of its domestic market, buoyed by increasing production and favourable regulatory changes.
By Colin Shek 12 December 2019 Asia Pacific / Companies & Finance 0 34878
Sinopec's Jiaoye 9-3HF well. (Sinopec)

State-owned Sinopec has laid out a roadmap for its gas development over the next quarter of a century that sets an ambitious target to corner 30% of the domestic gas market by 2045.

The target – provided by Sun Huanquan, director of Sinopec's Oilfield Exploration and Development Division at the Global Energy Transition Forum in Beijing on Saturday – does not appear to have been previously shared by the NOC and puts a rare concrete figure on the company’s long-term gas goals. Sun spoke on behalf...