Weekly China natural gas market news summary (Nov 4-Nov 8)

sxcoal.com 2019-11-08 16:48:41

China gas demand to hit 145-150 bcm this winter

China's natural gas demand is expected to reach 145-150 billion cubic meters (bcm) during this winter heating season, 5-8% higher than a year ago, a gas marketing executive with China's state energy group Sinopec Corp said on November 8.

In earlier days, Sinopec expected China's natural gas demand to increase by 82% to 510 bcm in 2030.

32-bln-yuan LNG project settled in N China

A large liquefied natural gas (LNG) project and its supporting pipeline project, with a total investment of 32 billion yuan ($4.6 billion), 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.

CNPC continues buying spree in 2nd Shanghai import expo

Oil & gas giant China National Petroleum Corp signed 21 contracts with 20 global suppliers in the second China International Import Expo in Shanghai.

These suppliers include Kazakhstan Natural Gas Transport Company, Saudi Aramco, Kuwait National Petroleum Company, ABB, etc.

Sichuan Basin's natural gas output to reach 1/3 of China's total

Natural gas output in southwestern China's Sichuan Basin is expected to account for one third of China's total production in the future, according to a report.

Sichuan Basin contributes around one fourth of China's total natural gas output currently, with reserves of conventional and unconventional gas in the region taking 23% and 26% of China's total, according to China Natural Gas Development Report for 2019 compiled by several institutes.

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 November 5.

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.

Hengyi Petrochemical launches Brunei refinery plant

China's Hengyi Petrochemical Co Ltd has launched an oil refinery and petrochemical facility in Brunei, the company said in a filling to the Shenzhen Stock Exchange on November 3.

The Brunei project will enable the company to extend business to paraxylene (PX) and benzene production, as well as oil refining, from current Purified Terephthalic Acid (PTA) and polyester filaments production, it said.

Growth in China's LNG imports tumbles as economy slows

Growth in Chinese imports of liquefied natural gas (LNG) is set to slow sharply this year reflecting a slowing economy and record high coal imports, according to analysts.

Beijing since 2017 has pushed households to convert to gas or electric heating from coal and this year has set its highest yet target for conversions at 5.24 million households.

(Writing by Tian Zhang  Editing by Tammy Yang)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

Share this article
Connect with us

Editors Recommendations

1 China's Yangtze delta targets 2% cut in tiny smog particles this winter 2019-11-12

The 41 cities of China's Yangtze River delta manufacturing hub will aim to cut concentrations of tiny airborne smog particles known as PM2.5 by 2% this winter, below last year's target of 3%, the envi

2 China Coal Daily Track (Nov 12) 2019-11-12

Thermal coal Production area Three coal mines suspended operations in Shaanxi's Yulin city. One is expected to resume operation in 20 days after working face alternation. The recovery of th

3 China domestic low-CV coal prices keep strength on demand 2019-11-12

Prices of low-calorific value thermal coal marched higher at northern Chinese port thanks to resilient demand, but traders seemed lacking confidence in the near-term market. Several trade

4 Overseas thermal coal holds steady in China amid trade stalemate 2019-11-12

Prices of overseas thermal coal held steady in Chinese seaborne import market at the beginning of this week, as trading activity has been in a stalemate following import curbs at several Chinese custo

5 Weekly China met. coke market analysis and forecast 2019-11-12

No further price falls were seen in China's met coke market last week except some producers lowered prices for the second round of decline. Yet, overall demand didn't improve remarkably, while coke

6 Weekly China coking coal market analysis and forecast 2019-11-12

Coking coal market continued softening at China's main production areas during the past week, due to curtailed buying from coke producers as their profit was heavily eroded after two rounds of coke pr

7 Weekly China thermal coal market analysis and forecast 2019-11-12

Thermal coal market started to stabilize at northern China ports mid last week following a month-long retreat. Inquiries seemed creeping up, especially for 5,000 Kcal/kg NAR fuel, amid growing bullish

8 Brazil's Vale outlook cut implies at least 14.7% sales drop in 2019 2019-11-12

Brazilian iron ore miner Vale on November 11 said it now expects sales of iron ore and pelletsof between 307 million and 312 million tonnes in 2019, implying at least a 14.7% decline from a year

9 China's tightening import curbs may further hit seaborne coal prices 2019-11-11

China's coal imports declined for the second consecutive month in October, the latest customs data showed. Considering tightened import control will continue until the end of 2019, China's falling imp

10 China Coal Daily Track (Nov 11) 2019-11-11

Thermal coal Production area In Ordos, Inner Mongolia, the overall demand remained weak as local and surrounding end users' purchases were still on a need-to basis. Some miners lowered prices b

Most Read Articles

1 Overseas thermal coal shows signs of weakness in China 2019-11-04

Overseas thermal coal prices appeared to stabilize last week in China's seaborne import market following slow but firm upward increase, leading to a broad perception of price fall soon in the market.

2 Supply-demand mismatch accelerates thermal coal downturn in China 2019-11-04

A mismatch between supply and demand in China's domestic thermal coal market triggered a quicker price downtrend at Bohai-rim ports that has had lasted since early last month. On November

3 Central China firm signs 2-bln-yuan thermal coal contract with Indonesian miner 2019-11-07

Xingrui Industry Co., Ltd, a state-controlled enterprise based in Zhengzhou city of Henan province, signed thermal coal term contract worth 2 billion yuan ($285.6 million) with Indonesian miner PT Ind

4 China Oct coal imports fall 15.2% on mth 2019-11-08

China registered a 15.2% month-on-month drop in coal imports in October, as price edge of overseas cargoes weakened over domestic coal and market talks spread about possible tighter curbs.

5 Tightening China import grips dampen overseas thermal coal prices 2019-11-07

A number of customs offices have halted clearance services for coal imports this week since the General Administration of Customs allegedly required to tighten grips on the overseas fuel, hurting pric

6 Newcastle Oct coal exports to China surge 19.47% YoY 2019-11-05

Coal exports from Carrington and Kooragang, two key terminals at Newcastle port, Australia to China expanded by 19.47% year on year in October, showed data from the Port Waratah Coal Services, operato

7 Shanxi Coking Coal signs import contracts with two foreign firms at China import expo 2019-11-08

Shanxi Coking Coal Group, China's largest producer of the steelmaking material, signed strategic cooperation framework agreement and memorandum of understanding for import purchase with two foreign fi

8 Indonesian thermal coal prices start falling in China seaborne market 2019-11-05

Indonesian thermal coal began losing strength in Chinese seaborne import market, with demand cooling down as its price edge fading away against Chinese domestic coal, which has been falling for more t

9 Wait-and-watch sentiment thick in China thermal coal market 2019-11-06

Wait-and-watch sentiment remained thick among participants in Chinese spot thermal coal market, although a sign emerged for slightly revived inquiry activity early this week. The spot coa

10 Traders expect China thermal coal to stabilize on improved buy 2019-11-05

The majority of traders are anticipating Chinese thermal coal market to stabilize following nearly one month of declines, as some signs showed for the improving buying demand due to multiple favorable

Scan to download sxcoal.com mobile APP