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2017-12-08 17:30:00

CHINA'S GAS IMPORTS RECORD

CHINA'S GAS IMPORTS RECORD

REUTERS   - China's natural gas imports in November rose to a record as domestic demand surged while crude imports were the second-highest ever, as refiners ramped up output to cash in on strong profits as fuel prices soar, customs data showed on Friday. 

November gas arrivals, including pipeline imports and liquefied natural gas (LNG) shipments, hit 6.55 million tonnes, breaking a previous record of 6.1 million tonnes last December, data from the General Administration of Customs showed. 

Year-to-date gas shipments were 60.7 million tonnes, on track to hit a record. 

An aggressive government campaign to heat millions of homes and fuel industrial boilers with gas has pushed domestic LNG prices to record highs, with some industrial and commercial users facing shortages or unable to afford the high cost. 

"Record natural gas imports were driven by the jump in liquefied natural gas imports. CNOOC and PetroChina are ramping up purchases on the spot market and increasing the utilization rates of their LNG receiving terminals," said Wang Haohao, gas analyst with Zibo Longzhong Information Group. 

State energy firms stepped up imports months ahead of the heating season that started mid-November, with CNOOC, the country's largest LNG importer, employing floating tankers as emergency backup and China National Petroleum Corp on Thursday warning of potential shortages. 

Crude oil imports rose to 37.04 million tonnes in November, or 9.01 million barrels per day (bpd), up from 7.3 million bpd the previous month, and the second-highest level in history. 

The data comes after the government recently released an additional 1.5 million tonnes in 2017 import quotas to three independent refineries. 

Stronger imports have been supported by firm refining margins after China raised domestic fuel prices twice in November. 

Year-to-date crude imports rose 12 percent to 385.98 million tonnes or 8.44 million bpd.

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Earlier:

 

 CHINA'S LNG GROWTH
2017, December, 1, 12:35:00

CHINA'S LNG GROWTH

PLATTS - Average domestic trucked LNG prices in China jumped more than 47% since November 14, according to Shanghai Petroleum and Natural Gas Exchange which monitors trucked LNG transactions from 50 LNG terminals and factories.

 

 CHINA'S LNG UP
2017, November, 29, 09:55:00

CHINA'S LNG UP

PLATTS - Asia LNG spot prices surged to a near three-year high Monday as surging Chinese demand and robust oil prices coincided with persistent supply anxieties.

 

 IEA: GLOBAL ENERGY DEMAND UP BY 30%
2017, November, 15, 15:15:00

IEA: GLOBAL ENERGY DEMAND UP BY 30%

Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.

 

 SOUTH CHINA CEA CALM
2017, November, 13, 10:40:00

SOUTH CHINA CEA CALM

Vietnam’s state television said Chinese President Xi Jinping had told Vietnam’s General Secretary Nguyen Phu Trong he wanted to work with Southeast Asian nations on a code of conduct in the sea. China’s Xinhua news agency said China and Vietnam had agreed to properly handle maritime issues and strive to maintain peace and stability.

 

 OPEC: 2040 GLOBAL ENERGY CHANGES
2017, November, 9, 14:00:00

OPEC: 2040 GLOBAL ENERGY CHANGES

Within the grouping of Developing countries, India and China are the two nations with the largest additional energy demand over the forecast period, both in the range of 22–23 mboe/d.

 

 U.S. - CHINA LNG
2017, November, 9, 13:35:00

U.S. - CHINA LNG

China’s top state oil major Sinopec, one of the country’s top banks and its sovereign wealth fund have agreed to help develop Alaska’s liquefied natural gas sector as part of U.S. President Donald Trump’s visit, the U.S. government said on Thursday. The agreement will involve investment of up to $43 billion, create up to 12,000 U.S. jobs during construction, reduce the trade deficit between the United States and Asia by $10 billion a year, and give China clean energy.

 SOUTH CHINA SEA LNG
2017, November, 3, 12:15:00

SOUTH CHINA SEA LNG

The South China Sea is a major route for liquefied natural gas (LNG) trade, and in 2016, almost 40% of global LNG trade, or about 4.7 trillion cubic feet (Tcf), passed through the South China Sea.

 

 

 

 

 

Tags: CHINA, GAS, IMPORT

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