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China Natural Gas Inc. is a Chinese energy company that, through its subsidiaries, is engaged in the distribution and sale of natural gas and gasoline to commercial, residential and industrial customers in the Xi'an area and the Shaanxi province of the People's Republic of China. The company also engages in the construction of pipeline networks.
The U.S. is China’s biggest supplier of natural gas. One of the largest natural gas deals is between China’s Sinopec and U.S. Natural Global LNG, which will provide 194 billion ft^3 of natural gas every year to China for 20 years. China has also increased taxes on natural gas being imported from the United States.
In July 2013, CNPC and Eni signed a $4.2 billion deal to acquire a 20% stake in a Mozambique offshore natural gas block. [18] In June 2014, the "head of a key China National Petroleum subsidiary was recalled to Beijing" and fell "from public view". [19] Replacement of China National Petroleum's top representative in Canada was announced in July ...
China signed a deal in 2016 with the Nepal Oil Corporation to sell 30% of the total Nepalese petroleum consumption. China plans to build a pipeline to Nepal's Panchkhal along with a storage depot. [20] In 2017, the shares of PetroChina upped after the rise of natural gas prices for commercial use. [21]
Guanghui Energy became the first entity in China to move natural gas in large quantities via truck. The first deliveries occurred in 2003, some trucks shipping gas as much as 5,000 km (3,100 mi). [17] The company signed a 15-year contract [18] to collect natural gas from the Turpan-Hami oil fields, where it had previously been flared. [19]
China's stock markets surged after the National Day break, but the gains pared quickly. ... The CSI 300 is about 25% higher year to date. China, the world's second-largest economy, is dealing with ...
The project is located in the Kutai Basin and has access to 15 million barrels of crude oil reserve and 700 billion cubic feet of natural gas. The deal closed with Sinopec getting an 18% stake for $680 million. [107] This project aligned with China's goal of doubling gas' share of energy production during the 2009-2015 period. [59]: 34 [108]
Price per million BTU of oil and natural gas in the US, 1998-2015. Natural gas prices, as with other commodity prices, are mainly driven by supply and demand fundamentals. However, natural gas prices may also be linked to the price of crude oil and petroleum products, especially in continental Europe.