China Will Have Enough Natural Gas This Winter to Meet Demand: Officials

China’s supply and demand for natural gas are expected to be balanced during this year’s winter heating season, following two years of breakneck demand growth for the cleaner-burning fuel as Beijing worked to improve air quality by lowering reliance on coal.Industry officials gave their assessment at a conference on Friday as growth in demand for natural gas slows sharply this year, falling into single digits from the previous double-digit range. The slowing demand growth comes as many homes and businesses have converted to other power sources, helping to improve air quality during the winter

China Natural Gas 2019-11-13

Analysis: China Oct gas imports down 10% on GDP, industry, Rudong LNG

China's natural gas imports, comprising LNG and pipeline gas, in October declined 10.3% year on year to 6.52 million mt, or 9 Bcm, the latest data from the General Administration of Customs showed, a significant reversal from growth rates of around 27% in recent years.Domestic sources attributed lower October imports to the economic slowdown, a long shutdown at PetroChina's Rudong LNG terminal, the relaxation of China's coal-to-gas switching policies, and stricter emission restrictions and lower industrial activity during the country's National Day holidays in early October.October is typicall

China LNG Terminal 2019-11-12

【ECF News】China oil giants signed over 80 billion USD during import EXPO

The 2nd China International Import Expo was held in Shanghai during Nov 5-10.More than 3,000 companies from more than 150 countries and regions participated in the exhibition.On November 6, the China Petroleum International Cooperation Forum and signing ceremony on the theme of “cooperative innovation and value creation” was held by CNPC in Shanghai. CNPC signed strategic cooperation agreements with SNAM and Schlumberger, and signed 21 procurement contracts with over 20 overseas suppliers including Kazakhstan Gas Transport, Saudi Aramco, Kuwait Petroleum, ABB, Schlumberger, Caterpillar, Honeyw

2019-11-12

China gas demand growth halved this winter as coal conversion slows

China’s natural gas demand is expected to expand at half the rate this winter compared to a year earlier, as Beijing slows its gasification push due to a weaker economy and competition from cheaper coal, state oil officials said on Friday.Gas demand this winter is forecast at 145 billion to 150 billion cubic meters (bcm), 5-8% higher than a year before, said a gas marketing executive with state energy group Sinopec Corp.Meng Yadong, director of the marketing department of Sinopec Gas Co, told an industry seminar in Beijing the growth is down from the 14.6% expansion in the previous heating sea

2019-11-12

32-bln-yuan liquefied natural gas project settled in north China

A large liquefied natural gas (LNG) project and its supporting pipeline project, with a total investment of 32 billion yuan (about 4.6 billion U.S. dollars), started construction in northern China, local government said.The LNG project, located in a logistics park at Caofeidian port of Tangshan City in northern China's Hebei Province, is the largest LNG terminal project under construction and planning in the Bohai Bay rim area, according to the municipal government of Tangshan.Construction work is divided into three phases. The first phase is scheduled to be completed in 2022 with an annual LN

China LNG 2019-11-08

China wind power firm plans $1B LNG terminal

China’s Suntien Green Energy Company Ltd., a wind power producer and piped natural gas distributor, plans to build a $1 billion liquefied natural gas (LNG) receiving terminal in north China by 2023, a company official told Reuters.The company, backed by the Hebei provincial government, joins a handful of Chinese companies outside the dominant state energy giants looking to own and operate a receiving facility for LNG, of which China is the world’s second-largest buyer, Kallanish Energy learns.In a Hong Kong exchange filing last week, Suntien said the central government had approved its plan to

China LNG Terminal 2019-11-06

China Sinopec strikes high gas flows in deep Xinjiang well

China Petroleum and Chemical Corp, or Sinopec Corp , has struck high flows of natural gas in an exploration well in China’s northwestern region of Xinjiang, official Xinhua News Agency reported on Tuesday.The Shunbei-4 well was drilled 8,270 metres below the surface, part of the Shunbei oil and gas field measuring 28,000 square kilometres, one of the deepest oil and gas deposits in Asia and Sinopec’s new frontier for reserve additions, Xinhua said.In test production, the well yielded a daily flow of 104,500 cubic metres of natural gas.Sinopec has planned a total of 65 wells in Shunbei, of whic

China LNG Imports Slide 1st Time in 3 Years on Outage, Stocks

China’s imports of liquefied natural gas are poised to drop for the first time in more than three years as buyers grapple with an outage at a key receiving terminal and hefty stockpiles.The world’s top buyer of natural gas imported 3.8 million tons of the fuel in LNG form Oct. 1-30, according to berth data compiled by Bloomberg, compared with 4.6 million for the full month last year. If confirmed by official customs data, which will be published later this month, it would be the first year-over-year drop since July 2016.The slide can be partially attributed to an outage at the Rudong LNG termi

China LNG 2019-11-04

Spotlight: Chinese LNG demand disappoints to the downside, warning sign for prices

We have long considered China to be a fast-moving secular demand growth story amid aggressive clean air policies supporting a shift from coal to gas for heating. This story appears to have hit a speed bump. As we highlighted in recent scorecards in August and September, we foresaw some of this risk building thanks to economic slowdown.Economic risks, combined with unsupportive weather in the north, has been weighing on import demand into China and putting prices at risk. Recent import levels, particularly into central China, account for nearly all the weakness -– over the last month down 35 mi

China LNG 2019-11-01

China's energy supply maintains steady growth in first nine months

China has posted stronger capability of securing energy supply in the first three quarters of this year, according to the National Energy Administration (NEA) Tuesday.The output of crude oil stood at 143 million tonnes in the Jan.-Sept. period, up 1.2 percent year on year and ending a falling streak for three years in a row, while the natural gas production grew at a faster pace, increasing by 9.5 percent to 127.7 billion cubic meters, said Song Wen, deputy director of the development and planning office of the NEA.In the same period, China added 64.55 million kilowatts of power generation cap

Tianjin port sees surging natural gas imports

Natural gas imports via north China's Tianjin port soared 91.2 percent year on year in the first three quarters to 7.12 million tonnes, according to Tianjin Customs Tuesday.The imports were all liquefied natural gas, and the total value grew 88.8 percent to 23.46 billion yuan (about 3.3 billion U.S. dollars), making Tianjin port China's largest port for liquefied natural gas imports.Natural gas imported from Australia rose 110 percent to 4.84 million tonnes in the first three quarters, accounting for 67.9 percent of the total.As an efficient and green energy source, the imported liquefied natu

Gazprom finishes filling China-bound Power of Siberia gas pipeline

Russian gas producer Gazprom has finished filling the Power of Siberia pipeline to China with natural gas, it said on Tuesday.Gas flows to China from east Siberia are scheduled to start by the end of the year, Gazprom said.

China Gas Pipeline 2019-11-01

China gas demand to surge through 2035, coal to still offer stiff rivalry - PetroChina

China's natural gas demand is expected to rise by more than 300 billion cubic metres (bcm) between 2018 and 2035, or 30% of global volume growth, stoked by the country's push to shift to the cleaner fuel from coal, a senior executive of PetroChina said on Wednesday.However, despite the huge growth potential, natural gas still faces stiff competition from coal as a fuel for power generation and heating as China advances low-emission, or so-called "clean-coal" technology, said Ling Xiao, a vice president of China's top oil and gas producer, addressing an industry gathering in Singapore.Meeting p

China Natural Gas 2019-10-31

China Sets Own LNG Benchmark Price for First Time, Offering APAC a Guide

China, the world's second-largest importer of liquefied natural gas, has inaugurated its first price index for imported LNG that can serve as a reference point across the Asia-Pacific region.The Shanghai Petroleum and Natural Gas Exchange and the General Administration of Customs yesterday pegged their first LNG import price, including cost, insurance and shipping, at CNY3,497 (USD493) a ton for the week ended Oct. 13, Shanghai Securities News reported today. That was 3.2 percent higher than the previous week.Inbound shipments account for more than 40 percent of the natural gas that China uses

China LNG 2019-10-30

China’s Bid for Commodity Price Clout Extends to Natural Gas

China became the world’s biggest natural gas buyer last year. Now it wants to start setting its own price.That’s because importers have been paying rates influenced by events unrelated to China’s supply and demand balance -- from European weather to Middle East conflicts. So like it has for oil, gold and iron ore before, producers, distributors and financial exchanges in the top commodities market are seeking prices that they say better reflect Chinese fundamentals, and in their own currency.The search for an internationally recognized Chinese natural gas price, including a proposed futures co

China LNG 2019-10-29

Sinopec, CNOOC, CNPC set to increase gas supply for winter heating season

China Petroleum & Chemical Corp, known as Sinopec, said it has secured 8.81 billion cubic metres (bcm) of natural gas for northern China for the upcoming winter heating season, state-owned Xinhua News Agency reported on TuesdayThat was up 15.5% from 7.63 bcm in the previous heating seasonCNOOC Group, China’s largest offshore oil and gas producer, plans to supply around 24.5 bcm gas, or 1.5 bcm more than last year, across the country, Xinhua reportedThe country’s top oil and gas producer, China National Petroleum Corp (CNPC) did not give the amount of gas it will supply in the winter, but said

China Natural Gas 2019-10-23

Tarim Oilfield supplies over 240 bln cubic meters gas to east China

The Tarim oilfield branch of PetroChina, China's largest oil and gas producer, said they have provided over 240 billion cubic meters of natural gas to 15 provincial-level regions in China via the country's West-to-East gas pipeline.Located in northwest China's Xinjiang Uygur Autonomous Region, Tarim Basin is the largest petroliferous basin in China and one of the most difficult to explore due to its harsh ground environment and complicated underground conditions.Over the past 15 years, the supply of natural gas from the Tarim Oilfield through the West-to-East gas pipeline has increased from 35

CNPC China Natural Gas 2019-10-23

Chinese LNG demand may be set to plateau – analyst

China’s surging appetite for LNG looks set to slow markedly next year as the government concentrates on diversifying its sources of gas supply, the Eurasia Group has said in a note to clients.“China’s gas imports are about to change because of Beijing’s shifting priorities,” said the company’s director of global energy, Henning Gloystein. Beijing’s efforts to boost domestic gas production and import more of the fuel via pipelines could potentially combine with an economic slowdown to bring booming LNG demand growth to a halt. The Eurasia Group saw a 30bcm growth in other sources of supply ne

China LNG 2019-10-23

The Pipeline That Could Derail China's LNG Boom

China’s booming natural gas and liquefied natural gas (LNG) demand is set to cool off, with both demand growth and LNG import growth slowing down from the dizzy growth rates of the past few years.A major natural gas pipeline designed to ship gas from Russia’s eastern natural gas fields to China could further eat some of the growth in Chinese LNG imports in a few years, when the pipeline starts operations at full capacity, according to an S&P Global Platts analysis.Earlier this month, Russia’s gas giant Gazprom said that the Power of Siberia pipeline to China is being filled up with gas as sche

Is This The End Of China’s Gas Boom?

Chinese demand for natural gas is forecast to rise by 10 percent this year, a slower growth rate than in previous years, as slowing economic growth impacts demand, state-run Sinopec Gas Company said on Tuesday.“Due to the macroeconomic situation and the government’s easing push to the coal-to-gas program, China’s gas consumption growth is slowing,” Reuters quoted a Sinopec official as saying, reading prepared remarks of deputy chief economist Wu Gangqiang.Between January and September 2019, China’s natural gas imports increased by 10 percent compared to the same period of 2018, according to go

China Natural Gas 2019-10-18
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