Sinopec (SNP) to Review Multi-Billion LNG Deal With Cheniere

China Petroleum & Chemical Corporation SNP or Sinopec is expected to review the terms of a $16-billion liquefied natural gas (“LNG”) deal with Cheniere Energy, Inc. LNG, per Reuters. The drop in LNG prices is expected to have triggered the review of the supply deal.Notably, while China is set to become the biggest LNG importer by the end of the decade, the United States is likely to be the largest exporter within 2025, ahead of Qatar and Australia. This makes the world’s two biggest economies a perfect fit. While China is expected to import $18.5 billion worth of U.S. energy products this year

China LNG Sinopec 2020-01-22

Chinese demand for U.S. LNG unlikely to surge as long as tariffs remain

Chinese purchases of U.S. liquefied natural gas (LNG) are unlikely to surge, despite an agreement for China to buy more U.S. energy supplies, because tariffs on gas from the United States remain in place, analysts and traders said.Under a Phase 1 trade deal between the world’s two largest economies signed this week, China has committed to buying an additional $52.4 billion worth of U.S. energy supplies, including LNG, over the next two years.But a 25% tariff imposed by China on U.S. LNG, which has pushed the price of U.S. gas above the spot market and restricted purchases, remains for now whil

China LNG 2020-01-22

CNPC to increase output of oil and gas

China National Petroleum Corp, the State-owned energy giant, is planning to ramp up oil and gas output to more than 200 million metric tons of oil equivalent this year, while looking to raise the share of natural gas output to a record high of 50 percent.The company announced the annual goal during its work conference for 2020 held on Tuesday in Beijing. It plans to invest 5 billion yuan ($726 million) this year on oil and gas exploration.Natural gas capacity at CNPC's Tarim Oilfield and Southwest oil and gas field will exceed 30 billion cubic meters, while shale gas production will surpass 11

CNPC 2020-01-16

USITC INSTITUTES SECTION 337 INVESTIGATION OF CERTAIN SHAKER SCREENS FOR DRILLING FLUIDS, COMPONENTS THEREOF, AND RELATED MARKETING MATERIALS from Chinese suppliers

USITC INSTITUTES SECTION 337 INVESTIGATION OF CERTAIN SHAKER SCREENS FOR DRILLING FLUIDS, COMPONENTS THEREOF, AND RELATED MARKETING MATERIALSThe U.S. International Trade Commission (USITC) has voted to institute an investigation of certain shaker screens for drilling fluids, components thereof, and related marketing materials. The products at issue in the investigation are described in the Commission’s notice of investigation.The investigation is based on an amended complaint filed by M-I L.L.C. of Houston, TX, on November 7, 2019. The amended complaint alleges violations of section 337 of t

China Petrochemical 2020-01-15

China Opens Up to Oil Majors at the Wrong Time

Broad new horizons in key markets are opening for the world’s energy companies. Don’t expect to see a land rush any time soon. China will allow all large domestic and foreign companies to apply for oil and gas exploration licenses that were previously only open to state-owned enterprises, the country’s resources ministry said at a briefing Thursday. In India, regulators will also let private and international companies bid for a group of coal blocks it’s putting up for auction starting this month, the country’s coal and mines minister Pralhad Joshi said this week, chipping away at a near-monop

China Investment China Oil Exploration China Policy 2020-01-14

Energy China Forum 2020 Recruitment Notification - International Project Officer

Energy China Forum 2020 Recruitment Notification - International Project Officer, Shanghai ChinaEnergy China ForumDowntown, Huangpu District, Shanghai, ChinaFull-timeResponsibility:1. Responsible for international project promotion, including planning, publicity and copywriting;2. Organize or provide assistance to international industry summit, global conferences and other events;3. Responsible for daily communication, marketing, maintenance and following up with global energy institute, governments, associations and energy companies;4. Responsible for market research, including industry dynam

China Gas China Shale Oil China Oil CNPC China Shale Gas 2020-01-12

China opens up oil and gas exploration, production to foreign firms

China will for the first time allow foreign companies to explore for and produce oil and gas in the country, opening up the industry to firms other than state-run energy giants as Beijing looks to boost domestic energy supplies.The long-awaited opening comes alongside Beijing’s reshuffle in the so-called “midstream” pipeline business, but experts say the policy relaxation may not draw immediate interest from international drillers due to overall poor asset quality of China’s hydrocarbon resources.From May 1, 2020, foreign firms registered in China with net assets no lower than 300 million yuan

China Policy 2020-01-09

China imports record LNG volumes in Dec, overtakes Japan for second month

China imported a record high monthly volume of liquefied natural gas (LNG) in December, overtaking Japan as the world’s top importer of the fuel for a second consecutive month, ship tracking data from Refinitiv Eikon showed on Tuesday.China imported 7.198 million tonnes of LNG in December, up nearly 16% from November, while Japan shipped in 6.574 million tonnes last month, up nearly 7% from the previous month, the data showed.China only slightly overtook Japan’s volumes of LNG imports for the first time in November, but greatly exceeded its neighbour’s volumes in December, according to the dat

China LNG 2020-01-07

【ECF News】China's oil and gas industry policy will enter a implemention stage in 2020

In 2019, the policies and regulations related to the reform of the oil and gas industry promulgated at the national level mainly involve the open of market access, market supervision, system reform, and price reform, and rarely involved industrial development and planning. The policies and regulations related to the oil and gas industry introduced in 2019 are basically based on the "big reform of the entire industrial chain".The year of 2020 is the ending year of the 13th five year plan period. After the first two years of top-level design, this year can be said to have truly entered the "comp

China Policy 2020-01-03

China's comprehensive LNG import price rises last week - Dec 31

China's comprehensive import price index for liquefied natural gas (LNG) rose last week, according to Shanghai Petroleum and Natural Gas Exchange (SHPGX).The LNG index, not including tax, came in at 3,304 yuan (about 473 U.S. dollars) per tonne from Dec. 16 to 22, up 4.92 percent from the previous week.The index, jointly developed by a monitoring center under the General Administration of Customs and the SHPGX, was launched on Oct. 16, 2019 and is due on a weekly basis to offer a new pricing reference for importers.

China LNG 2019-12-31

【ECF News】NDRC: National oil & gas pipeline company does not participate in competitive businesses such as oil and gas E&P

On the morning of December 17, NDRC held a December press conference. Meng Wei, deputy director and press spokesperson of NDRC's Political Research Office, said the national pipeline company will focus on its main business of oil and gas transportation, without participation on other competitive businesses such as oil & gas exploration and production, import & export or distribution. China on Dec 9 set up a new centrally-administered state-owned enterprise (SOE), the China Oil & Gas Piping Network Corporation.The company will partly be responsible for the investment, construction and interconn

China Gas Pipeline 2019-12-24

China's Sinopec starts operating shale gas pipeline from southwest

China's Sinopec said on Tuesday it had put into operation a pipeline delivering 2.6 million cubic metres a day of shale gas from the Fuling field in Chongqing in southwestern China to central and eastern ChinaThe Nanchuan-Fuling pipeline was built on challenging terrain, crossing steep slopes and a suspension bridge, said a report on the company's microblogChina's top shale gas field, Fuling is expected to pump at a record 7 billion cubic metres (bcm) in 2020, as Sinopec is set to add nearly 100 new production wells this year, Reuters reported in September.

China Gas Pipeline China Shale Gas 2019-12-19

China's natural gas output exceeds 170 bln cubic meters in 2019

China's natural gas output reached 173.3 billion cubic meters in 2019, according to the national energy work conference held in Beijing on Monday.The country's annual output has increased by over 10 billion cubic meters for three consecutive years, the source said.China's newly proven reserves of natural gas in 2019 reached 1.4 trillion cubic meters, up 68 percent year on year.In 2020, China will promote gas exploration, strengthen the construction of systems for the production, supply, storage and marketing of natural gas, and improve oil recovery and other key technological innovations, said

China Natural Gas 2019-12-17

Chinese buyers offer to resell LNG cargoes as they struggle with weak demand

Chinese companies are offering to resell liquefied natural gas cargoes in the spot market as they grapple with high inventory amid weak demand due to a slowing economy and a milder than usual winter, several trade sources said on Monday.The world’s second-largest buyer of LNG is currently facing high inventory of the super-chilled fuel in some areas, several sources familiar with the Chinese market told Reuters.“It’s quite warm in China and the demand is very bad,” one of the sources with a state-owned company said, declining to be named as he was not authorized to speak with media.He added th

China LNG 2019-12-11

China launches long-awaited National Pipeline Company Dec 9

China launched its long-awaited national pipeline company Monday, state-owned Xinhua news agency reported, a move that is set to expand infrastructure access to energy industry stakeholders.The new company is expected to break up long-existing monopolies in China's oil and gas sectors, with the ultimate goal of enhancing supply security and lowering the cost of the country's energy consumption, market sources said."[This is] a key step towards deepening China's oil and gas reforms by increasing suppliers and supply channels of upstream resources and building a more efficient and competitive pi

China Gas Pipeline 2019-12-10

China's comprehensive LNG import price rises last week from Nov 25 to Dec 1

China's comprehensive import price index for liquefied natural gas (LNG) rose last week, according to Shanghai Petroleum and Natural Gas Exchange (SHPGX).The LNG index, not including tax, came in at 3,382 yuan (about 480 U.S. dollars) per tonne from Nov. 25 to Dec. 1, 2019, up 0.7 percent from the reading of 3,360 yuan per tonne the week before.The index, jointly developed by a monitoring center under the General Administration of Customs and the SHPGX, was launched on Oct. 16, 2019 and is due on a weekly basis to offer a new pricing reference for importers.

China LNG 2019-12-06

China's new Russian natural gas pipeline won't worry LNG, oversupply will

A new pipeline from Russia that will eventually be capable of delivering more than a quarter of China’s current level of natural gas imports sounds like the last thing embattled liquefied natural gas (LNG) producers need.The Power of Siberia pipeline was scheduled on Monday to start delivering natural gas from Russia to China’s northeast, bringing the cleaner-burning fuel some 3,000 kilometres (1,865 miles) to a region that up to now has been heavily reliant on coal.The pipeline is due to reach its full capacity of 38 billion cubic metres (bcm) a year by 2025, which is equivalent to about 28.1

China LNG 2019-12-05

China-Russia east-route natural gas pipeline in operation

The China-Russia east-route natural gas pipeline was put into operation on Monday.At the gas-distributing and compressing station in the city of Heihe, northeast China's Heilongjiang Province, the data screen was switched on, indicating parameter variations of the gas passage. The station is the first stop after the Russia-supplied natural gas enters China.The pipeline is scheduled to provide China with 5 billion cubic meters of Russian gas in 2020 and the amount is expected to increase to 38 billion cubic meters annually from 2024, under a 30-year contract worth 400 billion U.S. dollars signe

China Gas Pipeline 2019-12-04

CNOOC'S TIANJIN TERMINAL PREPARES FOR WINTER SEASON

Cnooc Gas and Power’s Tianjin LNG receiving terminal is expected to supply 1.4bn m3 of regasified LNG via pipeline and 1.6bn m3 of LNG via tanker trucks to downstream customers in northern China during the winter season that runs from November to March, the company said November 25.Last year, Cnooc Gas and Power completed the project to expand the truck loading capacity of Tianjin LNG receiving terminal located in the northern Chinese prefecture of Tianjin. The terminal’s loading capacity increased from 400 trucks/day to 600 trucks/day which will help in increasing supply of gas to the Beijing

China LNG Terminal CNOOC 2019-11-28

GAS CONSUMPTION IN YUNNAN PROVINCE SPIKES

Natural gas consumption in Yunnan province, located in southwest China, crossed 1bn m3 during the first ten months of the year, state-run CNPC said November 26 in a report published on its information website.Consumption during the January-October period was 1.12bn m3, up 31% yr/yr and is expected to reach 1.5bn m3 for the full year, the report said. Kunming, the provincial capital, consumed 730mn m3 of gas during the first ten months of the year, accounting for 65% of total consumption.It is estimated that during the ongoing winter season (November to March), gas consumption in Yunnan provinc

China Natural Gas 2019-11-28