The annual output of natural gas of Petro China Southwest Oil & Gasfield Company in Sichuan Province exceeded 40 billion cubic meters at 9 a.m. on Thursday, establishing a large natural gas production area in southwest China.

The quantity of natural gas accounts for about 20 percent and 11 percent of China's natural gas production and consumption in 2023, respectively, said He Xiao, executive director of the company.

According to He, if the daily gas consumption of each household is one cubic meter, 40 billion cubic meters of natural gas can meet the annual gas demand of more than 100 million households and more than 300 million people.

The company's annual natural gas output is expected to reach 42 billion cubic meters by the end of 2023, an increase of 9.6 percent year on year, and more than 340 new wells have been put into operation, with a daily output exceeding 120 million cubic meters of natural gas.