STOCKHOLM, APRIL 28, (Greenpost) — The total length of China’s long-distance oil and gas pipelines is likely to exceed 160,000 kilometers by the end of 2020, with gas storage working capacity likely to reach 10.5 billion cubic meters and LNG receiving capacity to reach 19 million tonnes/year, industry experts predicted during China International Pipeline Exhibition 2016.
There is still great potential for global oil and gas pipeline construction market in spite of the sluggish international oil price, said Zhao Yujian, head of China Petroleum Pipeline Bureau (CPP), noting China’s Belt and Road Initiative would bring new opportunities for international oil and gas pipeline development, according to a report by the Xinhua-run Economic Information Daily on Monday.
China currently has 120,000 kilometers of oil and gas pipelines, accounting for less than 3 percent of the world’s total while natural gas consumption only takes up 6 percent in primary energy consumption, far less than the target of reaching a world average level of 24 percent, according to Zhao.
China is expected to show more and more robust demand for oil and gas especially clean energy such as natural gas and LNG which post great potential for oil and gas storage and transportation facilities, Zhao said. Enditem