CNPC sees future in natural gas

Energy giant bets big on growing demand for cleaner fuel LYU CHANG

China National Petroleum Corp, Asia's biggest oil and gas producer, will increase its investment in natural gas exploration and production, pipeline construction and gas sales in the coming decade, betting big on the country's thirst for the clean fuel.

The State-owned company, which currently allocates 70 percent of its total budget to natural gas production and around 10 percent to gas pipeline construction, is expected to increase these figures as it focuses more efforts on its gas business, said Hou Qijun, head of CNPC's planning department.