(Yicai Global) Nov. 21 -- China National Petroleum began building an underground natural gas facility in China's northeastern Liaoning province yesterday.
 

The project is a joint investment of CNY60 billion (USD8.56 billion) by CNP's local unit and the government of Panjin where the facility is located, according to Xinhua News Agency. The complex is expected to start operation in 2032 and achieve full capacity in 2035.

 With a total storage capacity of 24.1 billion cubic meters and operating capacity of 11.5 billion cubic meters, the facility will be the largest of its kind in Northeast China.
 

Panjin sits at the crossroads of several important Chinese natural gas pipelines, including the east line of the China-Russia natural gas conduit, which is projected to start running next month.

Editor: Ben Armour