Sinopec to hold LNG auction as China's winter heating season nears
BEIJING (Reuters) — A unit of China’s Sinopec Group will hold a LNG auction on the Shanghai Petroleum and Gas Exchange (SHPGX) on Nov. 14, the exchange said on Friday, without revealing the volume on offer.
Potential buyers are invited to submit bids to Sinopec’s Guangxi gas sales subsidiary from 0900–1130 Beijing time (0100–0330 GMT) and 1330–1500 (0530–0700 GMT) on that day, the SHPGX said in a statement on its website.
The auction comes on the eve of China’s peak winter heating season, which gets under way in mid-November, and amid warnings of severe gas shortages in the coming months.
This winter, millions of homes across the colder northern regions will be heated by gas instead of coal for the first time, as part of Beijing’s efforts to boost clean fuel use.
Reporting by Tom Daly; Editing by Elaine Hardcastle
The US Energy Information Administration (EIA) reported in April that the US set records for natural gas production in 2017.
- Energy Web Atlas
Since market reforms first started in 1978, China has shifted from a centrally planned economy to a market-based economy, experiencing rapid economic and social development.
Russia aims to ally with Qatar in LNG competition with Australia and other LNG-exporting majors over the coming years.
GasPro 2.0: A Webcast Symposium
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