Oil giant Sinopec has announced its discovery of a huge gas
field in southwest China's Sichuan Province, China Securities
Journal reported on Friday.
Since the gas field is still under exploration, the company will
not reveal its estimated gas reserves, the newspaper said.
However, according to local media reports, the natural gas
reserve of the field is very likely to exceed that of Puguang, a
gas field also in Sichuan with proven reserves expected to reach
500 billion cubic meters by 2008.
The company will build a pipeline to supply natural gas from
Sichuan to Shanghai, the country's financial hub in east China.
Prior to the new gas field, China only had five natural gas
fields with deposits exceeding 200 billion cubic meters, official
statistics show.
The new gas field will make a massive contribution to meeting
the country's demand for natural gas, experts say.
(Xinhua News Agency March 17, 2007)