China’s Sinopec adds new reserve to large gas field in Sichuan
China’s Sinopec Corp 0386.HK has tapped 34.03 billion cubic meters (bcm) of newly proven reserves at a natural gas field in the southwestern province of Sichuan, as the state energy producer strives to boost gas output to replace dirtier coal.
The reserve addition will bring Zhongjiang field’s total proven reserve to 106.1 bcm, parent company Sinopec Group said on its website on Monday.
Situated in Zhongjiang county, about 100 kilometers northeast of provincial capital Chengdu, the gas resource is mostly trapped at 2,000 meters to 3,000 meters below the surface and is a typical tight gas deposit that has a low permeability, Sinopec said.
The company said Zhongjiang has so far pumped a total of 5.29 bcm of gas, without saying when the field started first output.
Sinopec, which produces roughly 16% of China’s total domestic gas, aims to reach carbon neutrality by 2050 with a pivot to natural gas and hydrogen.
Source: Reuters (Reporting by Chen Aizhu; Editing by Krishna Chandra Eluri)