In this issue

 

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.…
British energy giant BP has carried out the first direct gas shipment to a Chinese gas customer by supplying an LNG cargo to ENN. The delivery was made possible by…
China Petroleum and Chemical Corp. (Sinopec) seeks more volumes on the spot market after the nation’s economic planning body NDRC urged companies to increase imports of LNG and thermal coal…
China, the world’s second-largest demand market, has connected 7.1 million households to its national gas network over the course of 2020, increasing the country’s gas demand for heating. LNG imports…
Free ReadPrice-sensitive Chinese buyers have turned away from spot LNG for February delivery after Beijing put a lid on domestic prices. Utility buyers in China are reluctant to pay anything above…
Gazprom has registered a subsidiary in Mongolia to conduct a feasibility study for a trunkline to supply Russian gas to China. With the Soyuz Vostok gas pipeline, ‘Power of Siberia…
Taiwanese energy company CPC Corp has just received its first shipment of US LNG from the Corpus Christi export plant in Texas under a 25-year supply deal with Cheniere Energy. Taipower,…
Free ReadChina has pledged to improve its use of cleaner fuel in the transportation sector where more LNG will be used for shipping, trucking and other industries, while domestic Emission Control…
Monday, 08 February 2021
1.15mmt on the water with a delivery horizon of 22nd February and c. 37 percent due in the North China region. At the time of writing, there was also a…
China’s LNG offtake in January amounted to 8.37mmt, which was 1.63mmt higher than the country’s total imports of 6.74mmt in November, thus increasing significantly by 24 percent. Since this report…
Free ReadChina’s domestic gas market tightens as the winter approaches and CNOOC anticipates a 10% rise in demand to 148.7 billion cubic meters (bcm). In northern China, gas demand peaks during…
City-gas distributors in China will benefit from timelier fuel-cost pass-through under the national gas market reform, Fitch Rating reckons. With pipeline access now open to all, those with access to…
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News Nudges

Charter rates steady

Shipping charter rates for LNG carriers in the spot market were little changed in the past week in the West of Suez market at between $59,000 per day and $55,000 per day for vessels of 155,000-165,000 cubic metres capacity. For vessels East of Suez fixture levels were down by at least $2,000 per day and were quoted at between $54,000 per day and $50,000 per day, according to London brokers. One-year charter rates for the most modern vessels were unchanged at around $77,000 per day.


Coal-to-gas transition

South Korea, the world’s third-largest LNG importer, will likely see natural gas demand rise 15% over the next 12 years as the country transitions from coal to gas generation and renewables. The energy ministry forecasts gas demand will amount to 41.7 million this year, and grow to 47.9 mt by 2034.