1 MONGOLIA MARKS CENTENNIAL WITH A NEW COURSE FOR CHANGE WWW.EASTASIAFORUM.ORG PUBLISHED:2024/12/20      2 E-MART OPENS FIFTH STORE IN ULAANBAATAR, MONGOLIA, TARGETING K-FOOD CRAZE WWW.BIZ.CHOSUN.COM PUBLISHED:2024/12/20      3 JAPAN AND MONGOLIA FORGE HISTORIC DEFENSE PACT UNDER THIRD NEIGHBOR STRATEGY WWW.ARMYRECOGNITION.COM  PUBLISHED:2024/12/20      4 CENTRAL BANK LOWERS ECONOMIC GROWTH FORECAST TO 5.2% WWW.UBPOST.MN PUBLISHED:2024/12/20      5 L. OYUN-ERDENE: EVERY CITIZEN WILL RECEIVE 350,000 MNT IN DIVIDENDS WWW.GOGO.MN PUBLISHED:2024/12/20      6 THE BILL TO ELIMINATE THE QUOTA FOR FOREIGN WORKERS IN MONGOLIA HAS BEEN SUBMITTED WWW.GOGO.MN PUBLISHED:2024/12/20      7 THE SECOND NATIONAL ONCOLOGY CENTER TO BE CONSTRUCTED IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/12/20      8 GREEN BOND ISSUED FOR WASTE RECYCLING WWW.MONTSAME.MN PUBLISHED:2024/12/19      9 BAGANUUR 50 MW BATTERY STORAGE POWER STATION SUPPLIES ENERGY TO CENTRAL SYSTEM WWW.MONTSAME.MN PUBLISHED:2024/12/19      10 THE PENSION AMOUNT INCREASED BY SIX PERCENT WWW.GOGO.MN PUBLISHED:2024/12/19      КОКС ХИМИЙН ҮЙЛДВЭРИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ИРЭХ ОНЫ ХОЁРДУГААР УЛИРАЛД ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     "ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК-ИЙН ХУВЬЦАА ЭЗЭМШИГЧ ИРГЭН БҮРД 135 МЯНГАН ТӨГРӨГ ӨНӨӨДӨР ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     ХУРИМТЛАЛЫН САНГИЙН ОРЛОГО 2040 ОНД 38 ИХ НАЯДАД ХҮРЭХ ТӨСӨӨЛӨЛ ГАРСАН WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/20     “ЭРДЭНЭС ОЮУ ТОЛГОЙ” ХХК-ИАС ХЭРЛЭН ТООНО ТӨСЛИЙГ ӨМНӨГОВЬ АЙМАГТ ТАНИЛЦУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     Л.ОЮУН-ЭРДЭНЭ: ХУРИМТЛАЛЫН САНГААС НЭГ ИРГЭНД 135 МЯНГАН ТӨГРӨГИЙН ХАДГАЛАМЖ ҮҮСЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     “ENTRÉE RESOURCES” 2 ЖИЛ ГАРУЙ ҮРГЭЛЖИЛСЭН АРБИТРЫН МАРГААНД ЯЛАЛТ БАЙГУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     “ORANO MINING”-ИЙН ГЭРЭЭ БОЛОН ГАШУУНСУХАЙТ-ГАНЦМОД БООМТЫН ТӨСЛИЙН АСУУДЛААР ЗАСГИЙН ГАЗАР ХУРАЛДАЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     АЖИЛЧДЫН САРЫН ГОЛЧ ЦАЛИН III УЛИРЛЫН БАЙДЛААР ₮2 САЯ ОРЧИМ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     PROGRESSIVE EQUITY RESEARCH: 2025 ОН “PETRO MATAD” КОМПАНИД ЭЭЛТЭЙ БАЙХААР БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     2026 ОНЫГ ДУУСТАЛ ГАДААД АЖИЛТНЫ ТОО, ХУВЬ ХЭМЖЭЭГ ХЯЗГААРЛАХГҮЙ БАЙХ ХУУЛИЙН ТӨСӨЛ ӨРГӨН МЭДҮҮЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/19    

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Events

Events

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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BHP invests in Gates and Friedland-backed firm I-Rox www.mining.com

BHP (ASX: BHP) has joined billionaire Robert Friedland’s I-Pulse Inc. and Breakthrough Energy Ventures, a clean-tech venture backed by Bill Gates and Jeff Bezos, to speed up technologies that can help the mining sector save on energy.
I-Pulse and Breakthrough Energy Ventures (BEV)-Europe launched earlier this year a company called I-Rox, a France-based firm focused on demonstrating a pulsed-power technology said to reduce the amount of energy needed to crush rocks.
The value of BHP’s equity investments in I-Pulse and I-Rox wasn’t disclosed, but the world’s largest miner will join I-Pulse and BEV Europe as shareholders of I-Rox, the firms said.
I-Rox uses high-voltage pulses of power to disintegrate rock, an approach that has been trialled in laboratories for years but has yet to be applied in commercial mining operations.
The agreements not only give BHP access to the new technology, but it also makes it an active partner in I-Pulse and BEV Europe’s quest to identify new applications for pulsed-power technology in a mining context.
Curbing emissions
Crushing and grinding mined rock into small particles to extract valuable metals and minerals consumes more than 4% of the world’s electricity and are a major source of miners’ direct emissions.
“BHP’s investment and our collaboration offer a meaningful step forward in the development and commercialization of I-Pulse technologies for the mining industry,” Friedland, chairman of I-Pulse said in the statement. “Particularly in relation to the prospect of the crushing and grinding of rocks for a fraction of today’s energy consumption, environmental impact and costs.”
I-Pulse has developed several applications of its pulsed-power technology, including solutions for geological exploration, finding water and manufacturing.
BHP chief executive Mike Henry said the collaboration with I-Pulse and I-Rox will contribute to the company’s growing portfolio of options with potential to both improve competitiveness of and help decarbonize its operations.
The Melbourne, Australia-based mining giant also has a 5.5% stake in Ivanhoe Electric (NYSE, TSE: IE), another Friedland-founded miner with copper projects in Arizona, Utah and Montana, along with a battery storage business.
Before listing in New York in June this year, Ivanhoe Electric was a unit of I-Pulse.
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Turquoise Hill accepts Rio Tinto’s USD 3.3 billion bid www.news.mn

Shareholders of Turquoise Hill have accepted Rio Tinto’s USD 3.3 billion bid to buy all of the shares in the Canadian miner it did not already own, drawing to a close a tumultuous takeover battle that at times appeared on the brink of failure.
The deal gives Rio greater control over the Oyu Tolgoi copper mine in Mongolia, which has been a priority for chief executive Jakob Stausholm, who travelled to the country a year ago in an effort to “reset” the relationship with Ulaanbaatar.
Oyu Tolgoi, one of Rio’s most valuable assets and crucial to its metals expansion strategy, will be one of the largest copper mines in the world when it reaches full production of about 500,000 tonnes per year by 2030.
It has struggled with cost overruns and delays. Rio operates the mine and owns 51 percent of Turquoise Hill, which owns 66 percent of Oyu Tolgoi. The remaining stake is held by the Mongolian government. Rio was forced to raise its offer price for Turquoise Hill twice this year following an initial bid in March, as it sought to buy out the remaining 49 per cent of Turquoise Hill that it did not already own.
In Friday’s vote 60.5 per cent of minority shareholders in Turquoise Hill voted to approve Rio’s offer, while an undisclosed number registered a dissenting vote or rejected the offer. Approval by a majority of the minority shareholders was needed for the deal to pass. Those shareholders who dissented will be paid C$34.30 per share, then go through a court process that will determine the final level of their compensation. “This transaction will deliver significant benefits for all shareholders, and allow us to progress the Oyu Tolgoi project in partnership with the government of Mongolia with a simpler and more efficient governance and ownership structure,” said Rio Tinto copper chief executive B.Bold.
The two largest minority shareholders in Turquoise Hill, SailingStone Capital and Pentwater Capital, have been vocal opponents of Rio’s offer on the grounds that it undervalues the mine. The shareholder vote on Rio’s C$43 a share offer was delayed several times this autumn, as Rio did not initially have the votes to approve the deal. Rio subsequently struck an agreement with SailingStone and Pentwater that would have allowed the deal to proceed, but it was withdrawn after being investigated by Canadian regulatory authorities.
Recommended ExplainerCharts that Matter Nickel dogged by liquidity concerns and price volatility Shares in Rio rose 1 per cent in London on Friday. Turquoise Hill gained 0.4 percent in New York. Valuing the mine’s resources has been tricky because producers expect a global shortage of copper in the coming years amid growing demand from electrification and the clean energy transition.
However, this year benchmark copper prices have sunk 12 percent because of reduced demand from China and concerns about a global economic slowdown. (Financial Times)
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Mongolia’s top coal company to brace for international audit scrutiny www.news.mn

For the ninth day, Mongolians are protesting at Sukhbaatar square against the “coal mafia”, led by ex-President Kh.Battulga who have apparently robbed the public purse of billions of dollars. Today (12 December), Mongolian Cabinet has held irregular meeting and Kh.Nyambaatar, Minister of Justice and Internal Affairs gave daily briefings on the coal theft scandal.
Kh.Nyambaatar
According to him, ‘All contracts related to the state mining company at the heart of the affair, Erdenes Tavan Tolgoi (ETT), were declassified and made public. Most of the contracts were signed based on recommendations in June 2019 of the National Security Council (NSC), which consisted of former president Kh.Battulga. The confidentiality of non-disclosure agreements (NDA) is terminated.
Since the establishment of “Erdenes Tavantolgoi” company, 25,000 vehicles have been involved in coal transportation. The information of the owner of these trucks will be disclosed according to the information registered in the General State Registration Office. As of today, 5,647 vehicles of 150 companies are carrying out short-distance transportation with C permit.
The Cabinet decided to submit an international audit to the finances of “Erdenes Tavantolgoi” company. Therefore, one of the world’s top audit companies will be selected for conducting a comprehensive audit.
The government investigation committee is considering about 1 million tonnes of coal may have been released without registration. During the investigation, it was revealed that 207,000 tons of coal exported to China without Mongolian customs registration between 20 May and 20 June, 2017, inspectors at the time determined that 3,758 coal haul trucks were registered as “empty” at customs.
“Erdenes Tavantolgoi” company has been made sales worth of MNT 12.8 trillion during the 12 years of operation’.
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Anti-Corruption Protests Pressure the Government of Mongolia www.thediplomat.com

December 10 marked the sixth consecutive day of anti-corruption demonstrations at Sukhbaatar Square in Ulaanbaatar, Mongolia. Among the many banners, slogans, and personal messages, protestors are demanding that Prime Minister Oyun-Erdene Luvsannamsrai’s government unveil the hidden “coal mafia” to the public. The movement marks Mongolia’s second largest peaceful protests since 1991.
The demonstrations, which began on December 5, took place despite freezing temperatures reaching -30 degrees Celsius. The youth, not losing momentum, are pressuring the prime minister and the Ministry of Justice to comply with their demands. The sentiment and the ongoing protests are an illustration of the social dissatisfaction that fuels – and exhausts – Mongolian youth today. After years of injustice, inequality, and inefficiency, the Ministry of Justice now has to answer to the public.
Based on interviews with demonstrators at the Sukhbaatar Square, most were students free from political and business ties. In addition to the younger generation, however, representatives of various interest groups were also present. Some groups, who seemed to represent the faction of President Khurelsukh Ukhnaa, were promoting a peaceful presence and retreat, seeking to prevent a possible escalation that could turn the demonstrations violent.
In another noteworthy development, the rally evolved into a mix of demographics. As the protest continued, more people showed up in support, bringing their own issues and complaints. Air pollution, high taxes, lack of job opportunities, missing coal, missing opportunities, corruption, and inequality are a few examples of the many concerns being voiced.
Artists and social influencers used social media tools to call for people to join the rally. Local small businesses and well-known activists brought warm food and teas to serve to the protesters. In connection with the latest anti-corruption demonstrations, Mongolians abroad began GoFundMe accounts in favor of the protesters. There is a sense of unity, support, and comfort.
Yet there is also a less seemly side. In the midst of the thousands of protesters who joined the rally in good faith, there are the corrupt ones – people holding cash, trying to bribe the protestors.
On December 10, during the “Discussion with Journalists” TV program, a female protester stated, “We sat in the front, on the cold cement. We had children coming from the back area and [they] informed us about people carrying cash to bribe the protestors.” Hearing this, Minister of Justice Nyambaatar Khishgee stated, “The department will look into this.”
In response to the public outcry, the Mongolian cabinet passed an emergency resolution to declassify nine projects implemented by Erdenes Tavan Tolgoi (ETT), the state-owned mining company at the center of the original allegations of coal industry corruption. Among the declassified information, specific topics include the Tavan Tolgoi-Gashuunsukhait and Tavan Tolgoi-Zuunbayan railroad project, its financial transactions, and certain contractual agreements and amendments made in 2019. Several former executives of ETT were arrested.
The declassified information involving the railroad is quickly turning into a political issue, as it involves former President Battulga Khaltmaa, who served as minister of roads, transportation, construction, and urban development during the time in question.
The government needs to abstain from politicizing the issue and tackle the details of who committed theft and how. This is no longer a government issue; it is a public issue.
Following the public’s demand to release the names of alleged coal thieves, Nyambaatar stated in a meeting with journalists: “I do not have the legal rights to release the medium and high-level ‘thieves’ by their names. My job and principle are to strengthen the legal, justice system of Mongolia, however you disrespect and come at me.”
On a number of social media platforms, people are sharing unverified stories of corruption in the coal and mining industries, many involving mining conglomerate families. Some posts even referred back to the 2016 Panama Papers, which involved former Prime Minister Batbold Sukhbaatar’s offshore accounts. Batbold still serves as a member of parliament.
From a broader perspective, the overall frustration and anger of the Mongolian people are understandable. Since the mining boom in 2011, inequality between the rich and the working class has skyrocketed, whether viewed in terms of the income gap or overall purchasing power.
In assessing Mongolia’s current economic and corruption climate, the dilemma here is that the mining conglomerates play a major role in decision-making and contribute tremendously to the national economy at large. The obvious unfortunate part of this dynamic is that the rich get richer while the poor get poorer. This six-day demonstration is stems from this larger problem: The Mongolian people have had enough and they want equality. By taking to the streets they are saying, enough is enough; no more leeway and no more special treatment for the coal thieves.
In an interview with the Zuv.mn on Facebook Live, a young female protester spoke for many when she said the current government’s actions will not be enough. Catching one thief with another is not a real solution to Mongolia’s corruption. The protesters further asked why she and her fellow colleagues are struggling to live in today’s Mongolia despite her higher education and foreign language skills. Why, she asked, must she live a restless life, working three jobs, while others are stealing millions and continue to flourish in the current political and business system?
The people of Mongolia want the Oyun-Erdene administration to unveil the corrupt system that has protected these mining conglomerates, particularly state-owned enterprises such as Erdenes Tavan Tolgoi. The people of Mongolia do not want to hear political rhetoric or narratives; they want to see crystal-clear action from the Ministry of Justice and, more generally, from the Office of the Prime Minister.
GUEST AUTHOR
Bolor Lkhaajav
Bolor Lkhaajav is a researcher specializing in Mongolia, China, Russia, Japan, East Asia, and the Americas. She holds an M.A. in Asia-Pacific Studies from the University of San Francisco.
GUEST AUTHOR
Bolorerdene Bazarsuren
Bolorerdene Bazarsuren is the editor of Trends.mn.
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United States provided specialized inspection equipment to Mongolia’s General Authority for Border Protection and General Customs Administration www.mn.usembassy.gov

On December 9, the United States provided specialized inspection equipment to Mongolia’s General Authority for Border Protection and General Customs Administration for use in examination of vehicles and cargo arriving in Mongolia at official ports of entry. The inspection equipment is sponsored by the U.S. Department of State, Bureau for International Security and Nonproliferation (ISN) Export Control and Border Security (EXBS) program. The equipment includes CT40 kits and accessories that will allow inspectors to examine vehicles and cargo to detect products that may be smuggled into Mongolia. The goal of the EXBS program is to prevent the proliferation of dual-use commodities that could be used for the production of Weapons of Mass Destruction (WMD). The use of this inspection equipment will help strengthen Mongolia’s national security and deter malign actors from acquiring dual-use products controlled by international export control regimes.

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Mongolia registers 23 COVID-19 cases www.akipress.com

23 new COVID-19 cases were registered in Mongolia in a day.
10 of them were contacts in Ulaanbaatar, and 13 were recorded in the regions. No imported cases were found.
The death toll from coronavirus remained 2,135.
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USA women place fourth at world cup, falling to talented Mongolia team, 7-3; Hedrick, Piearcy and Guilford win bouts www.teamusa.org

CORALVILLE, Iowa - The United States placed fourth overall at the 2022 World Cup, dropping their third-place match to a powerful Mongolia team, 7-3. The USA, which placed second in Group A on Saturday, finished with a 1-2 team record.
This match-up came after a roaring 6-4 win over the All-World Team last night which earned them a spot in the medal round.
Team USA won three matches, all from team members who are California natives. There were a number of close losses, which were key in the final outcome.
Alex Hedrick, a U23 World bronze medalist this year, defeated Mongolia’s Erdenesuvd Bat Erdene at 57 kg. Hedrick earned the first point with a step out but trailed 4-1 at the break following a four-point move by the Mongolian. Hedrick picked up a takedown and then scored on a clutch counter attack to make the score 4-4. Bat Erdene still led by criteria with 30-seconds left in the match. Hedrick forced the action, wrestling upper body, and earned a step out point in the final second. The Mongolian lost their challenge, making Hedrick’s final score 6-4.
At 68 kg, Solin Piearcy prevailed over Purevsuren Ulziisaikhan, 2-0. Piearcy is a member of the Senior National Team, and is a past WCWA and NAIA champion for Menlo College. She scored both of her points after Ulziisaikhan was placed on the shot clock and could not score,
2022 World Team member and U23 World silver medalist Dymond Guilford wrapped up the 76 kg match with an explosive 10-0 technical fall over Burmaa Ochirbat. Guilford scored on a blast double leg right into a series of leg laces. The win showcased Guilford’s signature energy and enthusiasm.
The Mongolian team showed their strength from the opening matches, scoring three straight wins to start off the dual meet. Otgonjargal Dolgorjav (50 kg) and Otgonjargal Ganbaatar (53 kg) earned bonus points over Erin Golston and Felicity Taylor, respectively.
The 55 kg matchup between 2021 World bronze medalist Jenna Burkert and Olympic bronze medalist Bolortuya Bat Ochir came down to the wire. Burkert forced a pushout before Bat Ochir put together a takedown and exposure of her own. Trailing 4-1 in the second period, Burkert forced wrestling upper body resulting in a whirlwind exchange of points. Once sorted, the Mongolian won by a tight 7-6 decision.
Many matches included World-level medalists from both teams.
Past World champion Tserenchimed Sukhee of Mongolia bested two-time World silver medalist Kayla Miracle at 62 kg. This was followed by an intense 65 kg match between Orkhon Purevdorj, a past Senior world champion and two-time World bronze medalist Mallory Velte that ended in a 9-6 decision for Purevdorj.
Mongolia’s final win came at 72 kg, as Davaanasan Enk Amar defeated Skylar Grote, 7-1.
The championship match will feature Ukraine and China, set for 4:00 p.m. CT, live on FloWrestling.
World Cup Women’s Freestyle Third Place Match
Mongolia 7, USA 3
50 kg – Otgonjargal Dolgorjav (Mongolia) pin Erin Golston (USA), 4:44
53 kg – Otgonjargal Ganbaatar (Mongolia) tech. fall Felicity Taylor (USA), 12-1
55 kg – Bolortuya Bat Ochir (Mongolia) dec. Jenna Burkert (USA), 7-6
57 kg – Alexandra Hedrick (USA) dec. Erdenesuvd Bat Erdene (Mongolia), 6-4
59 kg – Davaachimeg Erkhembayar (Mongolia) tech. fall Lexie Basham (USA), 12-2
62 kg – Tserenchimed Sukhee (Mongolia) tech. fall Kayla Miracle (USA), 16-5
65 kg – Orkhon Purevdorj (Mongolia) dec. Mallory Velte (USA), 9-6
68 kg – Solin Piearcy (USA) dec. Purevsuren Ulziisaikhan (Mongolia), 2-0
72 kg – Davaanasan Enk Amar (Mongolia) dec. Skylar Grote (USA), 7-1
76 kg – Dymond Guilford (USA) tech. fall Burmaa Ochirbat (Mongolia), 10-0
Team Records: Mongolia 2-1, USA 1-2
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Protesters in Mongolia divided in their demands to authorities www.tass.com

Participants in the protests that have been held in Mongolia for the eighth day in a row are divided in their demands to the authorities and begin to split into groups and argue with each other, a TASS correspondent reported on Sunday from a rally in Ulaanbaatar’s central square.
Several people held a sit-down strike at the stairs leading to the central entrance to the government building during the night from Saturday to Sunday. These people chanted the slogans demanding the names of high-ranking corrupt officials and coal embezzlers be made public.
People of the older generation gathered at a rostrum with a microphone near an ice village. They demanded the dissolution of the parliament, raising their voices in favor of an electoral reform and a bicameral parliament.
Younger participants in the rally flocking around the Sukhe Bator statue call for the resignation of the government.
Despite their different demands, the protesters from time to time get together and march along the square’s perimeter. They say it helps them keep warm, especially after dark, when air temperatures drop to 35 degrees below zero.
Protests in Mongolia’s capital city began on December 4, when people gathered in the central square demanding those responsible for exporting coal to China without any oversight from customs control, be named. The demonstrators claimed that there were high-ranking officials among them. The total sum of the theft is said to exceed 12.8 billion US dollars. On December 5, the protesters tried to storm the government building. On December 7, the Mongolian prime minister announced the establishment of a working group to investigate the case, which will include up to 100 protesters along with government officials.
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Permission to Register “Khan Bank” IPO Granted www.montsame.mn

The 23rd regular meeting of the Financial Regulation Commission (FRC) was held on 09 December 2022.
At the meeting, the FRC decided to register “KHAN bank” IPO and granted permission to trade in the primary market. The “KHAN bank” is the third bank among systemically important banks within the framework of the banking reform. The issuance of “KHAN bank” IPO is an example of the successful implementation of the Amendment to the Banking Law, and the reform in the bank and financial sector. “KHAN bank” LLC accounts for more than 30% of the total assets of the banking sector and is considered the largest among systemically important banks in terms of total assets and equity. With its successful IPO issuance, the number of new financial products with high quality and liquidity will be increased, which lead to activating the capital market, increasing securities trading, and improving liquidity.
The Law on Permitting (revised) will entry into force from 01 January 2023. Accordingly, it was agreed to amend the following regulations adopted by the FRC, in line with the regulations and standards for resolving applications for permission. The regulations are:
Annex 1. Regulations on Permission to Operate in the Securities Market (revised) of the Package Regulations of Securities Market;
Terms and Conditions for Savings and Credit Cooperatives;
Other rules and regulations that are applicable to the regulatory areas of FRC.
In the revised Regulations on Permission to Operate in the Securities Market, terms and conditions for permission of custodians and financial strength rating activities are stipulated.
In addition, the FRC registered asset-backed securities of a company and granted a license for issuing asset-backed securities, two licenses for insurance intermediaries, and a license for a real estate brokerage. It was also decided to make changes in the shareholder’s composition of a company and register the closed bonds of three non-bank financial institutions.
FRC
 
 
 
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China's largest unconventional gas field daily output hits 100m cubic meters www.news.cgtn.com

China's largest unconventional onshore gas production field, located in north China's Inner Mongolia Autonomous Region, has reached daily output of 100 million cubic meters, PetroChina said on Saturday.
Operated by PetroChina, China's largest oil and natural gas producer, the Sulige Gas Field located north of the Ordos Basin in Inner Mongolia is the main source of gas supply to the Beijing-Tianjin area and cities around Inner Mongolia.
The new daily gas production output record can supply the daily gas demand of 50 million households.
The Sulige Gas Field is characterized by its low porosity and low permeability tight sandstones, creating perfect condition for containing tight gas, a principal natural gas resource for gas reserves and production growth in China.
It has a proven gas reserve of 4.77 trillion cubic meters and its annual gas output had exceeded 300 billion cubic meters as of 2021.
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