Sinopec's 9M Gas Sales Up 13% on Year
Chinese-state owned Sinopec November 16 said it has sold 21bn m3 of natural gas during the first nine months of 2018 (9M 2018), up nearly 13% year-on-year.
The company said it has increased its overseas LNG procurement, especially in the spot market, to prepare for the winter season which runs from November to March. During 9M 2018, imported gas accounted for 41% (or 8.6bn m3) of the total gas sold.
Sinopec operates three LNG import terminals: Tianjin, Beihai and Qingdao. Sinopec said Tianjin terminal has received 2.12 million metric tons of LNG during January and mid-November. The company is expanding the capacity of the terminal which at present stands at 3mn mt/yr. Tianjin terminal supplies regasified LNG to the Beijing-Tianjin-Hebei region through the supporting pipe network, and is connected with the Shandong natural gas pipeline.