Global Industry: Chinese CNPC to build 23 more gas storage facilities by 2030

China’s CNPC said on Monday that it will build 23 more gas storage facilities and expand 10 existing ones by 2030, Reuters writes.

• The state energy group will build six regional gas storage centres across China, where the facilities will be located, in the next 12 years, according to a statement published on the company’s website
• The plan was part of China’s efforts to secure supplies of natural gas during peak demand season over winter
• Gas producers and local authorities have been boosting investment and adding new storage following a harsh winter that saw a severe supply squeeze, partly due to storage shortfalls