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 coking coal market holds steady; stocks slide 2020-05-25

China's coking coal market was temporarily stable, with small-scale production cuts in Hebei and Shanxi slightly driving down stocks at some coal mines. Operating rate at coking coa

2 Indonesian thermal coal stays firm on Chinese demand; Indian buy shrinks 2020-05-25

Indonesian thermal coal prices remained resilient at the beginning of this week, bolstered by restocking demand from Chinese end users and rising Chinese domestic market. Sources said som

3 Robust buying bolsters Chinese domestic thermal coal market 2020-05-25

Chinese domestic thermal coal market continued upward growth backed by strong purchases from end users, although traders felt some downward risks following a dramatic rally last week. On

4 China Coal Daily Track (May 25) 2020-05-25

Thermal coal Production area Coal prices kept going up as safety scrutiny intensified during the "Two Sessions". Coal mines have to produce strictly based on their designed capacity. Therefore,

5 China's coastal coal shipping market further up on demand 2020-05-25

China's coal shipping market along coastal routes further picked up in the week ending May 22, buoyed by firm demand from end buyers rushing to restock as industrial activities further recover.

6 China's commodity exchange launches thermal coal options simulation trading 2020-05-25

China's Zhengzhou Commodity Exchange (ZCE) said on its website that it will roll out thermal coal options simulation trading on May 26 to prepare for real transaction. Thermal coal contra

7 China to bolster energy reserve capacity, support unconventional gas exploration 2020-05-25

China said on May 22 it will bolster the capacity of the country's energy reserves and offer lower gas and electricity charges to key industries, as it looks to ensure energy supply and offset the imp

8 Australian thermal coal still active in China despite restrictions 2020-05-22

Although Chinese state-owned power groups were reportedly told to turn their back on Australian thermal coal, there are still some trades concluded in recent days, and inquiries seem growing from down

9 Near-term outlook remains gloomy for China coking coal 2020-05-22

The near-term prospect remains dim for China's coking coal sector, as no massive production cuts have occurred at mines despite the ongoing "Two Sessions", while demand was restrained from coke plants

10 China's futures fall dents spot thermal coal sentiment 2020-05-22

Bullish sentiment weakened marginally in Chinese spot thermal coal market on May 22, affected by a fall in thermal coal futures that usually provide some visibility to physical market. Th

Most Read Articles

1 China to slash H2 coal imports to back domestic miners, analysts say 2020-05-21

China is expected to tighten coal import rules in the second half of 2020 to shore up its struggling domestic industry, after record arrivals in the first four months, just as demand tanked because of

2 Chinese domestic thermal coal gains strength from import curb 2020-05-20

Chinese domestic thermal coal prices jumped following market talks that the state planning body, the National Development and Reform Commission, asked key power utilities to suspend coal imports from

3 Indonesian low-CV thermal coal price up close to $30/t after utility tenders 2020-05-21

Spot prices of Indonesian thermal coal edged higher in the Chinese seaborne import market, on the back of tender results from a state-owned power group, giving some clarity to the market.

4 Supply woes will create a short-term jolt for China's thermal coal market 2020-05-20

Supply interruptions are expected to jolt domestic spot thermal coal market, with prices of benchmark 5,500 Kcal/kg NAR coal anticipated to jump further. Only a limited number of coal min

5 Indonesian thermal coal prices keep going up; Australian coal flat 2020-05-20

It was a mixed picture in Chinese seaborne import thermal coal market on May 20; Indonesian coal prices extended the increase while Australian coal prices little changed amid uncertainty of import pol

6 Top 3 provinces contribute 70% of China's coal output in Jan-Apr 2020-05-21

Raw coal output at China's three major production areas –Shanxi, Inner Mongolia, and Shaanxi – stood at 808.36 million tonnes in the first four months this year, taking 70.14% of the country's total,

7 China coking coal market shows little sign of recovery 2020-05-20

Little sign of improvement emerged in China's coking coal market, as many mines were still riddled with high stocks and lackluster buying interest from coking plants. Only a few mines hav

8 Australian thermal coal still active in China despite restrictions 2020-05-22

Although Chinese state-owned power groups were reportedly told to turn their back on Australian thermal coal, there are still some trades concluded in recent days, and inquiries seem growing from down

9 Daqin railway transport volume falling not by chance 2020-05-21

Daqin Railway Co., Ltd. recently released its first quarterly report in 2020, showing that its operating income was 16.172 billion yuan from January to March, down 18.09% year on year; net profit attr

10 Chinese end users sidelined for spot thermal coal purchase 2020-05-21

Some Chinese end users are shunning large-scale purchase of spot thermal coal amid thick wait-and-see sentiment, as they doubt sustainability of this bout of unexpected upticks. One Shand

Scan to download sxcoal.com mobile APP