RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2020-11-17 13:10:00

CHINA GAS PRODUCTION UP

CHINA GAS PRODUCTION UP

PLATTS - 16 Nov 2020 - China recorded 16.3 billion cubic m of domestic natural gas output in October, its second-highest monthly total as the country continues to boost investment in its upstream sector and cut its dependence on imports, according to official data.

The natural gas produced in October was 11.6% higher from September and up 11.9% from a year ago, data released Nov. 16 by the National Bureau of Statistics showed.

The country's highest monthly natural gas output was at 16.9 Bcm in March, after which, production fell for four straights months and bottomed out in July-August, squeezed by lower-priced imported LNG, S&P Global Platts reported earlier.

Since then, China has gradually increased its production volumes as the price of imported pipeline gas and LNG rebounded, market sources said.

The country imported 7.53 million mt, or 10.38 Bcm, of natural gas, including LNG and piped gas, in October, down 13.1% on the month, data from the General Administration of Customs showed. This is expected to have provided more space for storage of domestically produced natural gas, market participants said.

China's demand for natural gas is also expected to improve as winter temperatures continue to dip, which will incentivize the production of domestic natural gas, part of which is being driven by shale gas volumes.

Among others, Sinopec's Fuling shale gas field reached a daily production of 20.6 Mcm on Oct. 31, the highest daily production from China's domestic shale gas fields, the state-owned oil and gas major said in a recent update.

Another state-owned oil and gas major, PetroChina, also reported daily shale gas production of 20.26 Mcm from the Changning block, in the southwest gas field, on Oct. 10, the company said in its latest operational update.

Over January-October, China produced 153.4 Bcm of natural gas, up 9% year on year, the NBS data showed. However, this is still lower than the 9.3% growth reported during the same period in 2019.

At its current pace, China will exceed its 2019 gas production volume and hit a new annual record.

China's production of natural gas, including unconventional natural gas, was 177.3 Bcm in 2019, an increase of 17 Bcm year on year, out of which 152.7 Bcm was conventional gas, 15.4 Bcm was shale gas, 5.5 Bcm was coal-bed methane, and 3.68 Bcm was coal gas production, according to government data.

-----


Earlier:

CHINA GAS PRODUCTION UP
2020, November, 12, 13:45:00
CHINA CARBON NEUTRALITY: 2060
President Xi Jinping said China's carbon emission will peak by 2030 and it will attain carbon neutrality by 2060, and thus make a huge contribution to the global fight against climate change.
CHINA GAS PRODUCTION UP
2020, November, 3, 12:55:00
CHINA'S REFINERY INVESTMENT $20 BLN
China has a refining capacity of 13.1 mb/d, i.e. 2.5 times as high as in 2000 (5.4 mb/d).
CHINA GAS PRODUCTION UP
2020, October, 27, 14:45:00
CHINA OIL IMPORTS UP
Crude oil is considered a key product to complete China's annual energy purchase commitments due to the commodity's typically higher value and volume compared with other energy products.
CHINA GAS PRODUCTION UP
2020, October, 26, 13:50:00
CHINA NEED GAS
CNOOC’s hydrocarbon output increased from 475 mboe in 2018 to 506.5 mboe in 2019 (+6.6%).
CHINA GAS PRODUCTION UP
2020, October, 19, 14:10:00
CHINA ECONOMY UP
On a quarter-on-quarter basis, China GDP rose 2.7% in the third quarter, the NBS said, compared with expectations for a 3.2% rise and an 11.5% rise in the previous quarter.
All Publications »
Tags: CHINA, GAS, PRODUCTION