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China Gas Report

Company Watch

CNPC, Rosneft to build oil refining project in Tianjin

China National Petroleum Corporation (CNPC), the country's largest oil and gas producer, has reached accord with Russia's state- controlled oil giant Rosneft upon an oil refining project in Tianjin, a northern port city close to Beijing, said sources. e Chinese and Russian sides are expected to sign the formal agreement in October, 2008 at earliest. e project, to be located in the Tianjin Harbour Industrial Park, will have an annual output of 15 million tons, the biggest Sino-Russian refining complex.

  • e oil refining project is taking

shape in accordance with an agreement between CNPC and Rosneft. Under the agreement

signed in March 2006, both sides agreed to build two joint- venture projects respectively in China and Russia.

In Russia, CNPC formed Vostok Energy Limited in 2006 along with Rosneft. e Chinese oil giant has controlled 49 percent of the venture, and the Russian partner 51 percent. e venture just won licenses to develop two hydrocarbon deposits in East Siberia for USD 45.4 million after six rounds of biddings, said some reports on August 6, 2008. e two deposits, with oil reserves estimated at 30 million tons and 500 million tons respectively, is expected to reach oil reserves of 90 billion cubic meters each in the future.

China gas demand to top 210-250 BN cubic meters by 2020

By 2020, China's demand for natural gas is expected to reach 210-250 billion cubic meters, Liu Xiaoli, deputy director of the Energy Economy and Development Strategy Research Center under Energy Research Institute of the National Development and Reform Commission (NDRC) made these remarks at the 3rd Asia-Pacific LNG International Conference.

Liu predicts that by 2020, China's total energy demand will reach four billion tons of standard coal. By then, if natural gas makes up 8-10 percent of the primary energy consumption, China will need about 210-250 billion cubic meters of natural gas before the demand can be met. By 2030, if natural gas makes up 10 percent of primary energy consumption, China will need about 350 billion cubic meters of natural gas.

  • e Pearl River Delta, the Yangtze

River Delta and the Bohai-ring economic circle are major natural consuming areas, accounting for over 60 percent of China's total natural gas consumption.

As for supply, China's natural gas production capacity will be around 150 billion cubic meters by 2020, which can by no means meet the consumption demand. China will import natural gas and LNG to fill the supply gap.

Statistics provided by China Petroleum and Chemical Industry Association show that China produced 69.31 billion cubic meters of natural gas in 2007, up 23.1 percent year on year. e country's natural gas output is expected to reach 76 billion cubic meters in 2008.


September 2008

Guangdong Dapeng LNG: Plans to build 4th storage tank

Guangdong Dapeng LNG, operator of China's first liquefied natural gas terminal, plans to build its fourth storage tank and will seek government approval in the next two months, a top executive said

  • ursday.

  • e new 160,000-cubic-meter

tank is expected to cost more than the company's existing units, Guangdong Dapeng's president,

  • omas King, said on the sidelines

of the ird Asia LNG Summit. He declined to say when the tank will be completed. e company has three storage tanks, each with a capacity of 160,000 cubic meters.

Puguang gas field start trial production

Puguang Gas Field, one one of largest gas fielfs in China, has stepped into trial production, according to the energy bureau under the National Development and Reform Commission (NDRC).

  • e bureau revealed that the P302-2

well, one of nine developed wells put into operation in advance, has begun trial extraction. e P302-2 well now has finished 5,770-meter deep drilling.

  • e trial production will last 13

days with a total production of 5.2 million cubic meters of natural gas and 780,000 cubic meters of hydrogen sulfide and a combined 1,989.75 tons of sulfur dioxide.

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