Sinopec sees record high in gas output

China Petroleum and Chemical Corp, the world's largest refiner by volume also known as Sinopec, said on Monday the company's southwestern bureau saw its daily gas output reach a record high of 23 million cubic meters, equivalent to the gas demand of 46 million households.

The Sinopec Southwest China Petroleum Bureau reported gas production of 694 million cubic meters in October, up 5.8 percent compared with the same period in the previous year. It plans to produce 718 million cubic meters of natural gas in November, an increase of 17.7 percent year-on-year, to further ensure sufficient gas supply in the country.

The Sinopec Southwest China Petroleum Bureau so far has a newly built capacity of 1.1 billion cubic meters this year, with more than 70 new wells put into operation.

Domestic demand for natural gas continued to grow rapidly, with apparent consumption up 16.6 percent year-on-year according to figures released by the BloombergNEF.

Sinopec, together with China National Petroleum Corp and China National Offshore Oil Corp, have been stepping up efforts to increase natural gas output ahead of winter by between 6.5 percent to 14 percent year-on-year in the first three quarters.