CNPC to invest in 23 new projects

China National Petroleum Corp, the country's largest oil and gas company, plans to build 23 new gas storage facilities and expand 10 existing ones by 2030, with a total investment of more than 50 billion yuan ($7.26 billion), as national gas producers nationwide are stepping up investment in gas storage facilities to ensure sufficient gas supply.

The working gas capacity of the 23 new gas storage facilities is expected to exceed 15 billion cubic meters, the company said.

It will also build six regional gas storage centers across China in the next 11 years, part of the company's efforts to secure supplies of natural gas during peak demand season over winter, especially in the northern parts of the country.