Xinjiang Oilfield Company, a subsidiary of China's top oil and gas producer PetroChina (PTR.NYSE; 00857.HK; 601857.SH), is set to extract more natural gas from Hutubi underground natural gas storage base in the coming winter, according to a release by China National Petroleum Corporation on Wednesday.
PetroChina has inject over 2 billion cubic meters of natural gas into the underground gas storage base by October 21, in comparison of 1.705 billion cubic meters in 2014 and1.209 billion cubic meters in 2013.
Hutubi underground gas storage base supplied 415 million cubic meters and 260 million cubic meters in previous two winter seasons.
As China's largest gas storage base in operation, Hutubi underground gas base has 4.51 billion cubic meters of working storage capacity.
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