China starts building first offshore gas storage near Bohai Bay

The projects will be part of PetroChina's northern China gas storage hub

  
Offshore drilling oil rig for producing oil and gas in the petroleum industry. Image used for illustrative purpose.

Offshore drilling oil rig for producing oil and gas in the petroleum industry. Image used for illustrative purpose.

Getty Images

* China started to build its first offshore gas storage base in northern Chinese city Tangshan near the Bohai Bay rim, the National Development and Reform Commission said in a post on its website on Tuesday

* The base, including two gas storages -- Nanpu 1-29 and Pugu-2 - has designed storage capacity of 4.1 billion cubic metres and costs 6.47 billion yuan ($995.94 million) to build

* The projects will be part of PetroChina's northern China gas storage hub to improve supply of the lower-carbon fuel to the smog-prone region as well as petrochemical plants that use gas as feedstock.

($1 = 6.4964 Chinese yuan renminbi)

(Reporting by Muyu Xu in Beijing and Chen Aizhu in Singapore) ((muyu.xu@thomsonreuters.com; +86 10 56692117;))

More From Business