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CNPC to dig deep in search for more gas storage capacity

Ease of access and economics explain why China’s biggest gas supplier appears to be more interested in underground facilities than LNG terminal tanks for meeting its storage needs Ease of access and economics explain why China’s biggest gas supplier appears to be more interested in underground facilities than LNG terminal tanks for meeting its storage needs.
By Colin Shek 21 January 2019 0 33851
The Tangshan LNG terminal in China. (Engie)

China National Petroleum Corp. (CNPC) will embark on a spree of building underground gas storage (UGS) capacity over the next dozen years, a sign China’s biggest energy groups will shoulder most of the burden of building up the country’s meagre storage capacity.

CNPC, the parent of PetroChina, outlined a masterplan last week to build 23 new UGS facilities while expanding 10 existing ones by 2030. According to the plan, CNPC aims to build six regional gas storage centres across China over the...