China’s Sinopec targets a 65% increase in its domestic natural gas output to reach 48 billion cubic meters (bcm) by 2025, according to Hellenic Shipping News.
Zhu Xueqian, a Gas Specialist with Sinopec’s Petroleum Exploration and Development Research Institute, stated that Sinopec plans to concentrate on utilizing gas resources in the Sichuan basin in the southwest and Erdos in northern China.
The company also eying 13 bcm of shale gas from the Sichuan basin by 2025, which would account for about 30% of its entire gas output.
Zhu added that Sinopec will rais the capacity of its liquified natural gas (LNG) terminals in Tianjin, Qingdao, and Beihai, and will establish new ones in Longkou, Shandong, and Liuhe, Zhejiang. Accordingly, by 2025, China will operate more than 30 LNG terminals and would be able to handle nearly 200 million tons (mmt) of imported super-chilled gas.
China’s current LNG import capacity record 96 mmt only.