In this issue

 

Demand across south-east Asia is rebounding, but it is China where much of the growth is currently materialising. Beijing’s coal-to-gas switching policies are gathering pace and spurred a demand surge…
If the world takes decisive actions to limit global warming to 2°C by 2050, oil demand and prices would fall rapidly later this decade, while gas demand and price would…
Sunday, 06 June 2021
Free ReadThere were 2.14mmt of LNG on the water with destinations in China according to market visibility at the time of writing on 3rd June. These cargoes had a delivery horizon…
China’s month-on-month LNG offtake grew by 0.72mmt in May, increasing robustly by 11 percent to 7.13mmt. Monthly Chinese offtakes also increased by 0.86mmt (16 percent) month-on-month in April, meaning that…
Though the Suez Canal Suez blockade has caused much of an uproar on global shipping markets, it only had a modest impact on LNG shipping and spot LNG prices in…
Electric utilities in China avoid investing in gas peaking plants due to cost issues. Fuel prices are bound to rise with the start of China’s national emissions trading scheme (CETS)…
Free ReadChina National Offshore Oil Corp., one of China’s main LNG importers, has issued an advisory statement expressing “regret” at a decision by New York Stock Exchange to delist its shares…
PetroChina, the Chinese major listed in Hong Kong and with LNG and international assets, reported plunges in annual revenues and net profits of over 20 percent and 57 percent respectively…
ENN Group, the leading non-state energy company in China with LNG and city-gas assets, has reported a 2 percent rise in annual revenues to 71.6 billion Chinese yuan ($11Bln), mainly…
Qatar Petroleum has just signed a Sale and Purchase Agreement (SPA) with Sinopec for the supply of 2 million tonnes per annum to Chinese terminals. Under the agreement, LNG deliveries…
Free ReadStrong growth in renewables has reduced the share of coal in China’s power generation mix to less than 50% – for the first time. Fitch Ratings expects the contribution of…
Tuesday, 06 April 2021
1.62mmt on the water with a delivery horizon of 29th April and c. 24 percent due in the North China region, according to our market visibility. At the time of…
China’s month-on-month LNG offtake grew by 1.72mmt in March, increasing robustly by 33 percent to 6.91mmt. Monthly Chinese offtakes had decreased by 3.24mmt (-38 percent) in February, meaning that the…
Free ReadChinese city gas operators have struggled to fulfil the recent spike in gas demand caused by a rebound in industrial activity and strong heating needs in an exceptionally cold winter.…
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News Nudges

Chinese gas flows from Russia to rise

Russia’s daily piped natural gas deliveries to China are set to rise by more than 50 percent by the end of 2021, China’s official Xinhua news agency reported. The current daily rate of 28 mill cubic metres will rise to 43 mill cubic metres by year-end, ensuring supply for the winter and spring of 2022, including the Beijing Winter Olympics in February next year, Xinhua quoted a PipeChina official as saying. The East Route pipeline scheme has carried more than 10 bill cubic metres of Russian gas to China since it started operations in December, 2019, Xinhua said. In China, the northern and middle sections of the scheme have already been completed, while the southern section is due to be complete by 2025, allowing the project to reach its planned capacity of 38 bill cubic metres per year.


China to build Kamchatka terminal

China Communications Construction Company (CCCC) has won the contract to build Novatek’s Kamchatka LNG transhipment terminal. The trans-shipment hub is intended to handle LNG loaded in the Arctic for discharge in Asia. It had earlier been reported that Japanese companies had expressed interest in participating in the Kamchatka transhipment terminal. It will be used to transship Yamal LNG from Arc7 type LNG carriers to conventional LNGCs for onward transits to Asian destinations.