In this issue

 

Free ReadChina’s monthly LNG offtake in October amounted to 5.37mmt, our data showed at the time of writing, which constituted negative monthly demand growth of 0.26mmt from the 5.63mmt we recorded…
Three new LNG regas terminals were commissioned in China this summer: Beijing Gas’ 5 mtpa Tianjin Nangang terminal, Guangzhou Gas' 1 mtpa Nansha terminal and Huaying Natural Gas’ 6 mtpa…
The National Energy Administration (NEA) of China sees the country’s gas demand rebound in the second half of 2023 and reach up to 390 Bcm for the full year, a…
British supermajor Shell has agreed to lease LNG regas and import terminals from state-owned PipeChina on a medium- and long-term basis. PipeChina operates seven LNG terminals with a combined capacity of…
Free ReadLower LNG purchases by China could bolster Europe’s security of gas supply in the coming winter and reduce prices, the business daily Handelsblatt reports referring to ICIS data. Chinese LNG…
Despite targeting Net Zero by 2060, China’s gas demand is expected to rise for another two decades before peaking in the mid-2040s at above 660 Bcm. Around half of China’s…
Focussing on self-sufficiency and energy price stability, the Chinese government has been favouring domestic coal over gas and costly LNG for power generation. It hence decided not to levy any…
Free ReadChina National Petroleum Corporation (CNPC) will procure 4 million tons of LNG from QatarEnergy over 27 years in a move that tilts China’s power gen mix more towards natural gas.…
Friday, 01 September 2023
There were 2.31mmt of LNG on the water with destinations in China according to our market visibility at the time of writing on 30 August. These cargoes had an estimated…
Friday, 01 September 2023
China’s monthly LNG offtake in August amounted to 6.35mmt, our data showed at the time of writing, which constituted monthly demand growth of 0.19mmt from the 6.16mmt we recorded in…
With China’s industrial gas use rapidly rebounding, the country’s overall demand growth will rise 6 percent this year and LNG imports could jump up to 15 percent compared to 2022-levels,…
Free ReadAs China's economy gains pace after three years of lockdowns, analysts see significant upside for coal and LNG demand in case of a construction-led boom. Though China strives to primarily…
CLP and Hong Kong Electric are preparing the launch of the city’s first LNG import terminal: a commissioning cargo, provided by PetroChina, has been unloaded to help cool down the…
Long-term LNG contracting is off to a strong start, with some 13 mtpa signed in just over four months since November, according to Wood Mackenzie figures. Chinaoil, the trading arm…

News Nudges

Sinopec buys 25 cargoes through end-2024

China’s state-dominated gas giant Sinopec is well supplied, having issued a tender this autumn to purchase a total of 25 LNG cargoes, delivered on an ex-ship basis, between October 2023 and the end of this year. The price of these cargoes was not disclosed, though Sinopec wanted them to be indexed to the Japan-Korea-Marker (JKM) benchmark, except for the first one. The first shipment was delivered in October, followed by six in November and seven in December – leaving one cargo per month throughout 2024. Chinese authorities urged importers and domestic gas producers to source more of the cleaner-burning fuel as the country’s electricity use increased throughout the autumn.