(MENAFN- Qatar News Agency) Beijing April 24 - China will raise its natural gas supply to as much as 420 billion cubic meters per year by 2020 amid rising demand due to urbanization a government statement said on Wednesday.
According to Chinese new agency (Xinhua) the increased supply will cater to the rising demand for natural gas in people's daily lives schools nursing homes home heating as well as in buses and taxis a statement on the central government website said.
The supply increase is also driven by the nation's efforts to mitigate air pollution stemming from an over-reliance on coal.
To expand natural gas production investment in gas storage facilities as well as their construction and operation will be open to all market players the statement added.
Meanwhile companies will also have the option to issue bonds to raise capital for the construction of storage facilities. The government will offer favorable land policies for storage facility projects the statement said.
Data showed that natural gas consumption in China hit nearly 170 billion cubic meters last year.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.