Natural Gas In Chongqing, Or Hot Air?

Given China’s rush to secure energy resources overseas there would be a certain irony to finding a massive natural gas field in its own back yard. Yet that is what may — or may not — have happened.  Chengdu Commercial News quotes a local official saying a Sinopec official had told him that the company has found the largest natural gas field in Asia in Chongqing. That came as news to Sinopec officials in Beijing, who told Bloomberg that the company is checking the report. PetroChina operates China’s largest confirmed gas field, the Sulige field in Inner Mongolia with proven gas reserves of 534 billion cubic meters. The next largest is Sinopec’s Puguang field in Sichuan, which has  verified reserves of 356 billion cubic meters.

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