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

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

ECF China Shale Weekly Review - January 12, 2020

ECF China Shale Weekly Review - January 12, 2020

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 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

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

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

【ECF News】Chinese shale gas poised to spring output surprise in 2020

China is on course to produce 15 billion cubic metres of shale gas in 2019, a year earlier than some estimates. This puts the country on track to surpass output expectations in 2020 – potentially by a wide margin.The 15 bcm forecast was given by PetroChina and Sinopec executives at separate industry events in Beijing on Thursday and Saturday. The predicted output would represent an increase of 37% from last year’s production of 10.8 bcm.PetroChina's vice president Li Luguang addressed an acceleration of PetroChina in upstream shale development, saying the company's shale gas production is esti

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'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

【ECF News】China's total shale gas production to exceed 13 billion cubic meters in 2019

By the end of 2018, China had completed drilling of 898 shale gas wells and submitted proven reserves of 1.05 trillion cubic meters. In 2018 alone, China's newly added proven geological reserves of shale gas amounted to 124.7 billion cubic meters, and its technologically recoverable reserves were about 28.7 billion cubic meters. In terms of production, in 2018, China's shale gas production reached 10.88 billion cubic meters, exceeding the 10 billion cubic meters mark for the first time, and has become the world's third largest shale gas producer.As China's two major oil and gas companies engag

China Shale Gas 2019-11-29

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

China ramps up small-scale LNG imports from neighbors to enhance energy security

China, the world's second largest LNG importer, is exploring LNG break-bulk opportunities at facilities in neighboring countries like South Korea and Japan, as the importer's demand for small-scale LNG continues to grow.The process involves breaking standard-sized LNG cargoes into ISO tank containers for delivery to China's regular coastal and riverbank ports. Potential supply partners include South Korea's Kogas and Japan's Shizuoka Gas.The move comes amid China's plans to expand small-scale LNG import infrastructure in order to diversify energy supply sources and enhance energy security. Chi

China LNG 2019-11-28

China Oct LNG imports fall 12% on year to 4 mil mt

China's imports of LNG fell 11.5% year on year to 4.04 million mt in October, and were down 20.7% month on month, S&P Global Platts calculations based on latest data from the General Administration of Customs showed Tuesday.Market sources attributed the decline to a domestic 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 70th National Day holiday in early October.The import cost for October LNG arrivals averaged $464/mt, down 13

China LNG 2019-11-27

China and Russia to turn on gas pipeline tap as neighbours forge stronger energy ties

Natural gas is set to begin flowing from Siberia into northeastern China early next month, opening up a new supply route between Russia and its energy-hungry neighbour.The project, a joint agreement between state energy giants China National Petroleum Corporation and Russia’s Gazprom, is part of efforts to bolster economic and diplomatic ties between the two countries, relations that have strengthened over the five years since the project was launched.In Moscow on Monday, Chinese vice foreign minister Le Yucheng called the project a “major achievement”, marking both the 70th anniversary of dip

China Natural Gas 2019-11-27

How Russia-China Gas Pipeline Changes Energy Calculus

Russia is pivoting its energy business to the east. The world’s largest exporter of natural gas has built an enormous pipeline running from Siberia to the Chinese border to feed China’s insatiable energy appetite. The new conduit, called the Power of Siberia, is part of a plan by Russian President Vladimir Putin to reduce his country’s dependence on gas markets in Europe and tap into the fast-growing economies of Asia. For China, whose domestic energy production can’t keep up with demand, the pipeline offers a vital new source of supply.1. What is the Power of Siberia?Built by Russian energy g

China Natural Gas 2019-11-26

China's comprehensive LNG import price rises last week

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 3,487 yuan (about 497 U.S. dollars) per tonne from Nov. 11-17, 2019, up 8.7 percent from the reading of 3,207 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 2019-11-22

Sinopec and Air Liquide Inaugurate Two Hydrogen Stations in Shanghai

China Petroleum & Chemical Corporation ("Sinopec" or the "Company") (HKEX: 386; SSE: 600028;NYSE: SNP) and French company Air Liquide opened two hydrogen stations, West Shanghai Petrol and Hydrogen Fueling Station and Anzhi Gas and Hydrogen Fueling Station, on November 18 in Shanghai. They are the first stations in China to provide combined commercial gas and hydrogen fuel services.The two hydrogen stations are part of the first project jointly signed by Sinopec and Air Liquide, which will lead Shanghai on the path to becoming a hydrogen energy harbor and further support the development of the

Sinopec 2019-11-21
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