Northeast Chinas largest natural gas storage is put into operation

Time:2021-11-16 15:34:25      Source:Globaltimes.com
The expansion project of the natural gas storage groups from China National Petroleum Corporation (CNPC) in Liaohe Oilfield, Northeast China's Liaoning Province has been put into operation, which will significantly improve the capacity of gas supply in Northeast China, Beijing-Tianjin-Hebei region and surrounding areas throughout this year’s winter.
 
Entering November, Northeast China turned on public heating systems, leading to the gradual increase in gas consumption. After coming online, the daily gas extraction of the gas storage with the largest peaking capacity in China, will be doubled from previous years.
 
Tan Deku, a manager from CNPC’s Liaohe Oilfield, said that the peak daily gas extraction can meet the demands of 30 million households. Since the first round of gas extraction in 2016, the gas storage group in Liaohe has extracted 5 billion cubic meters of gas, reducing carbon dioxide emissions by 4.353 million tons, compared with coal of the same combustion value. 
 
The expansion project has strategic significance in adjusting China's energy structure, and promoting energy conservation and greenhouse gas emissions reduction, in order to cope with climate change, as well as ensuring gas supply security and national strategic reserves, analyst said.
 
In 2035, the project is expected to consist of the largest underground gas storage group in China, with a peaking capacity of 10 billion cubic meters.
Index RMB/t DoD Basis Date
Datong 5500 700 0 ex-mine 05-04
Shuozhou 5200 680 0 FOR 05-04
Ordos 5500 700 0 ex-mine 05-04
Yulin 6200 780 0 ex-mine 05-04
Liulin Low-sulphur 900 0 ex-mine 05-04
Gujiao Low-sulphur 1770 -50 FOR 05-04
Xingtai Low-sulphur 2360 0 ex-Factory 05-04
Yangquan PCI 1280 -30 FOR 05-04
Index RMB/t WoW WoW% Date
Qinhuangdao 507.0 1.0 0.20 05-04
Caofeidian 541.0 9.0 1.69 05-04
Huanghua 216.9 12.4 6.06 05-04
Guangzhou 291.2 3.0 1.04 04-27
coastal 6PPs 1629.8 44.7 2.82 07-02
North Ports 2697.8 53.0 2.00 02-01
Yangtze River delta 1242.5 -74.7 -5.67 02-01
South Ports 2233.4 -216.0 -8.82 02-01
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