In recent years, China's fast-growth natural gas consumption has made the nation face more serious seasonal gas shortage. The construction of peak-shaving underground gas storages, however, doesn't catch the speedy gas consumption demand growth. By 2022.12, China has 84 underground gas storages in operation. These underground storages are able to supply 19.8 bcm peak-shaving natural gas, which is about 8% of China's total gas consumption in 2017. To ease the seasonal gas shortage, over 43 new undergound gas storages are planned with effective peak-shaving capacity annouced to be 61.5+ bcm.

Although there is an urgent appeal for more gas storages in China, it is still an area strictly dominated by PetroChina and Sinopec.