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    Sinopec Handles 14% More Gas in 2020

Summary

The company has stepped up local gas purchases as well as LNG imports.

by: Shardul Sharma

Posted in:

Complimentary, Natural Gas & LNG News, Asia/Oceania, Liquefied Natural Gas (LNG), Security of Supply, Corporate, Exploration & Production, Import/Export, News By Country, China

Sinopec Handles 14% More Gas in 2020

Chinese state-run Sinopec’s operating gas volumes in the year up to December 9 totalled 41.5bn m3, up 14% yr/yr, the company said on December 18.

The company said it had purchased 18bn m3 of domestic onshore gas this year and had seen its LNG imports rise 18.6% yr/yr to 16.44mn metric tons. Sinopec stated that its Qingdao and Tianjin LNG receiving terminals had been operating at full load capacity during the period. Sinopec has also bought 1.6bn m3 of gas from other state-owned companies, it said. 

China's gas usage has recovered from lows near the start of the year, as the Covid-19 outbreak has been contained to a large extent. The country's gas consumption during the first nine months of the year came to 230.95bn m3, up 3.6% yr/yr, the National Development and Reform Commission said in late October.