Founded in June 2005, the Sinopec Natural Gas Company is a specialized company directly under Sinopec in charge of its natural gas business. It has been registered as the Sinopec Natural Gas Co., Ltd. and the Sinopec Great Wall Gas Investment Co., Ltd. concurrently, with main responsibilities including: construction, operation and management of Sinopec natural gas pipeline, LNG terminal, gas storage and other facilities, market development and sales operation, local pipe network and joint venture for terminal sales. The Sinopec Natural Gas Company focuses on management of production and operation; The Sinopec Natural Gas Co., Ltd. focuses on management of joint ventures and investment; The Sinopec Great Wall Gas Investment Co., Ltd. focuses on terminal project development and management.
At present, the Sinopec Natural Gas Company has 15 departments in its headquarters (including directly-affiliated entities), manages more than 60 affiliated units (including joint ventures, project departments and preparatory groups), and employs more than 3,000 people. In 2020, the Company operated 44.52 billion m3 of natural gas, registering a year-on-year increase of 5.18 billion m3 or 13.2%, of which 42.3 billion m3 were sold, representing an increase of 16.2% year on year, 12.3% higher than the national average.
Since its establishment, the Sinopec Natural Gas Company has been implementing Sinopec’s natural gas development strategy. Integrating “resources, facilities, markets and performance”, it has been committed to the philosophy of systematic layout, intensive operation and coordinated development. At the same time, it has accelerated the construction of storage and transport facilities, stepped up efforts in market development, strengthened production and operation management, which has facilitated the rapid development of its natural gas business.
During the 13th Five Year Plan period of China (2016-2020), the Sinopec Natural Gas Company operated a total of 157.2 billion m3 of natural gas, and the annual operating volume of natural gas maintained an increase of more than 24% for six consecutive years, ranking first in China. The Company’s business expanded from 12 provinces in 2015 to 22 provinces, with its domestic market share increasing by an average of 1.2% per year.