Chinese top oil and gas producer PetroChina (PTR.NYSE; 601857.SH; 00857.HK) plans to extract 191 million cubic meters of natural gas from its Xiangguosi underground natural gas storage base in southwest China's Chongqing municipality in this winter, said a release by China National Petroleum Corporation (CNPC) on Thursday.
The Xiangguosi underground natural gas storage base would start to supply gas from November 16 for peak-shaving purpose in Sichuan province and Chongqing.
By November 1, 1.53 billion cubic meters of natural gas has been injected into the underground storage base in 2015. With 13.8 million cubic meters of maximum daily output, the Xiangguosi underground storage base now has 3.6 billion cubic meters of natural gas in storage.
The Xiangguosi storage base is connected to the second West-East natural gas pipeline, the Zhongwei-Guizhou natural gas pipeline and the Myanmar-China natural gas pipeline, according to earlier reports.
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