Gas Processing & LNG is Produced by Gulf Publishing Holdings LLC



China's gas imports jump to record high as winter weather bites

BEIJING (Reuters) - China's natural gas imports soared to a record in December as the country battled a winter supply crunch, while crude oil imports eased sharply from near-record highs a month earlier, customs data showed on Friday.

December gas imports, including pipeline imports and tanker shipments of LNG, came in at 7.89 million tonnes, 20 percent above November's previous record of 6.55 million tonnes, data from the General Administration of Customs showed.

Imports for the whole of 2017 jumped 27 percent from 2016 to a record of 68.57 million tonnes.

A massive government push to heat millions of homes and power thousands of factories with natural gas in northern China has led to demand for the fuel outpacing supply, while delivery infrastructure has found it hard to cope.

"LNG imports last month reached new highs according to our cargo monitoring and pipeline imports from Kazakhstan and Turkmenistan also ramped from previous month," said Diao Zhouwei, analyst of IHS Markit.

Record imports by state energy firms and higher Chinese production have pushed down domestic wholesale LNG prices in north China. Prices were around 5,500 yuan ($848.44) per tonne this week, off 45 percent from peaks seen in late December.

(Reporting by Chen Aizhu; Editing by Richard Pullin and Kenneth Maxwell)


Copyright © 2018. All market data is provided by Barchart Solutions. Futures: at least a 10 minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

                                  CMEGroup                                     Icelogo

FEATURED COLUMNS

Editorial Comment
-Adrienne Blume
As discussed in the HPI Market Data 2019 report, published in November by Gas Processing & LNG’s sister publication, Hydrocarbon Processing, rising propane and ethane supplies in the US have been enabled by greater production of shale gas.
Industry Trends: Norway targets global LNG market
-Eugene Gerden
Norway aims to become a leading player in the global LNG market during the next several years through the establishment of new, large-scale LNG terminals.
Regional Focus: Challenges of scaling up Africa’s LNG production
-Shem Oirere
Several gas projects are underway in Africa, but they continue to be constrained by inadequate infrastructure, slow finance mobilization, lack of security and uncertainty over hydrocarbon regulations that are casting doubt on the outcome of the continent’s drive to meet its anticipated 128% gas demand increase by 2040.


GasPro 2.0: A Webcast Symposium

Register Now

The global LNG industry is becoming increasingly interconnected as grassroots export projects get off the ground. Another technology route for processing gas into fuels—GTL—is attracting renewed attention due to improving economics. Small-scale solutions for both LNG and GTL are at the forefront of new technological developments, while major projects using more conventional technologies continue to start up around the world.

During this webcast, we will focus on LNG, GTL, gas processing technology developments and deployments, operations, small-scale solutions, transportation, trading, distribution, safety, regulatory affairs, business analysis and more.

October 25, 2018 08:30 AM CDT

Register Now

 

Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2018 Gulf Publishing Holdings LLC.