China has significantly increased its underground gas storage capacity, adding 6 billion cubic meters and ranking 6th globally. The top five countries with the largest storage capacity are the United States, Russia, Ukraine, Canada, and Germany. China’s expansion comes as underground gas storage in developed markets is stagnating. The additional capacity in China could reduce its reliance on the volatile spot LNG market. PetroChina recently acquired three natural gas storage facilities to enhance its control over the gas chain. China’s first underground salt cavern gas storage facility became operational, boosting energy security and peak demand management.

Read more at Yahoo Finance: China Leads World’s Underground Gas Storage Buildup