China’s gas storage reliance grows
Despite technical challenges and slow development times, storage capacity is expanding
China will meet a greater share of its gas requirement through withdrawals from underground gas storage (UGS) this winter. Demand is widely expected to remain subdued during the heating season, which started in November, and combined with forecasts of greater stock draws this means storage will account for a higher percentage of the country's gas supply mix over the colder months than it did a year ago. China injected an estimated 17bn m³ of gas into storage—including both UGS facilities and tanks at LNG regasification terminals—this summer, up by 2.5bn m³ year-on-year, according to data compiled by Petroleum Economist. Given the much quicker turnover of gas in LNG storage tanks, the UGS fac
Also in this section
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind
29 April 2024
Although recent, firmer gas prices have blunted some price-sensitive demand, the overall growth outlook remains robust
26 April 2024
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing
26 April 2024
Slowing demand growth and capacity expansions will squeeze refiners in coming years