Date
11 December 2017

Chongqing to lead in commercialization of shale gas, paper says

China Petroleum & Chemical Corp. (Sinopec) (00386.HK, 600028.CN), Chongqing Transportation Holdings (Group) Co. Ltd. and Chongqing Gas Group Co. Ltd. will form a joint venture to build a liquefied natural gas (LNG) plant in Peiling district in Chongqing, leading the country in the commercialization of shale gas extracted from local wells, Shanghai Securities News reported Tuesday, citing unnamed people with knowledge of the matter. The plant is expected to produce two million cubic meters of LNG per day, meeting about a third of the city’s demand. Twenty-one of the 58 wells in the district, which are estimated to have reserves of more than one trillion cubic meters, are now extracting shale gas with annual production capacity of one billion cubic meters and are expected to produce 10 billion cubic meters by 2017, the report said.

– Contact HKEJ at [email protected]

TL/AC/CG

 

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