Sinopec Puts Largest Gas Storage Cluster in North China into Operation, Providing 10 Billion Cubic Meters of Gas Storage

Rhea-AI Summary

The Wei 11 gas storage facility by Sinopec in the Zhongyuan Oilfield region commenced operations on October 18, 2021, marking a significant milestone as it forms part of the largest underground natural gas storage cluster in north China. With a capacity of 10.03 billion cubic meters, this facility will enhance gas storage and peak shaving efforts in the region, supporting the needs of 10 million households daily. Additional facilities are expected to be operational by year-end, further boosting Sinopec's gas supply capabilities.

Positive

• Wei 11 facility began operations, enhancing Sinopec's storage capacity.
• Capacity of 10.03 billion cubic meters supports 10 million households daily.
• Additional facilities will be operational by year-end, boosting overall capacity.

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• None.

BEIJING, Oct. 18, 2021 /PRNewswire/ -- The Wei 11 gas storage facility built by China Petroleum & Chemical Corporation's (HKG: 0386, "Sinopec", "the Company") in its Zhongyuan Oilfield region successfully completed its first gas injection on October 18, marking the beginning of official operation of the largest underground natural gas storage cluster in north China.

The gas storage facility has a capacity of 10.03 billion cubic meters and will become a strong resource guarantee for gas storage and peak shaving from winter through spring in north China and the Yellow River Basin as well as ensuring a stable gas supply.

Sinopec's Zhongyuan gas storage cluster now has three blocks, the Wen 23, Wen 96 and Wei 11. The Wei 11 gas storage facility that's now up and running is a key component of establishing the natural gas storage cluster reaching 10 billion cubic meters. The block is located at the junction of Henan and Shandong provinces and has a designed capacity of 1.009 billion cubic meters. The largest daily peak shaving capacity of the Wei 11 gas storage facility is 5 million cubic meters, which can meet the gas demands of 10 million households every day.

In addition, Sinopec will have its Wen 13 West and Bai 9 gas storage facilities in the Zhongyuan Oilfield region up and running by the end of this year after completing construction and gas injection, adding an estimated 1.116 billion cubic meters of gas storage capacity further enhancing the company's gas storage and peak shaving capacities.

Gas storage is underground "natural gas banks," an energy infrastructure integrating seasonal peak shaving, emergency accident gas supply and national strategic energy reserves. As the proportion of natural gas continues to expand in China's energy consumption structure, the peaks and valleys of natural gas supply as well as seasonal differences is becoming increasingly prominent. The gas storage can "deposit" the surplus of natural gas in the market and "draw" in time of supply shortage during the winter heating season to achieve natural gas peak shaving.

Sinopec continues to accelerate the construction of gas storage facilities and improve gas storage and peak shaving capabilities in China. The Company is stepping up to complete key projects including the Zhongyuan gas storage cluster and Huangchang gas storage facility in Hubei Province and more after completing the gas storage facilities including Yong 21 in Shandong Province, Wei 11 in Zhongyuan Oilfield region, Guxi in Jilin Province and Qingxi in Sichuan Province, steadily expanding the scale of natural gas storage and effectively improving the storage capacity and gas peak shaving capability to guarantee the supply of natural gas.

For more information, please visit Sinopec.

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SOURCE SINOPEC

FAQ

What is the capacity of the Wei 11 gas storage facility operated by Sinopec?

The Wei 11 gas storage facility has a capacity of 10.03 billion cubic meters.

When did Sinopec officially start operations at the Wei 11 gas storage facility?

Sinopec officially started operations at the Wei 11 gas storage facility on October 18, 2021.

How many households can the Wei 11 gas storage facility serve daily?

The Wei 11 facility can meet the gas demands of 10 million households daily.

What future expansions are planned for Sinopec's gas storage facilities?

Sinopec plans to have additional facilities, Wen 13 West and Bai 9, operational by the end of this year, adding an estimated 1.116 billion cubic meters of capacity.