Chinese Energy Majors to Boost Gas Supplies

PetroChina and China Petroleum & Chemical (Sinopec), two of China’s biggest energy firms are likely to boost natural gas supply by 4 billion cubic meters during this winter and next spring, the ChinaScope Financial has reported.

Natural gas supplies from PetroChina, will likely reach 47.05 billion cubic meters, up 2.79 billion cubic meters year-on-year, people close to the company disclosed. Sinopec’s daily marketable natural gas supply will exceed 43 million cubic meters. The firm plans to sell 6.86 billion cubic meters of natural gas during the period, 1.18 billion cubic meters, or 20.75 percent higher compared with last year.