CNPC Sets 5 pct Growth Target for 2012 Gas Output

China National Petroleum Corp. (CNPC), parent of PetroChina Co. Ltd. (601857.SH, 0857.HK), plans to raise its natural gas output by at least 5 percent to 79.3-82.1 billion cubic meters this year.

The state-owned enterprise aims to improve its technological capabilities in developing coalbed methane gas and shale-gas while pushing ahead with its gas storage construction, Zhao Zhengzhang, vice president of PetroChina, which operates CNPC's oil and gas assets, said on Tuesday.

CNPC produced 2.15 million cubic barrels of crude oil per day last year, up 2 percent from a year earlier.

Rival China Petroleum & Chemical Corp. (Sinopec, 600028.SH, 0386.HK) had a daily crude oil output of 1.31 million barrels, and produced 14.6 billion cubic meters of gas last year.