China’s Yanchang Petroleum runs Yan’an LNG plant at 40%

07 May 2012 09:14  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Shaanxi Yanchang Petroleum is running its new 500,000cbm/day liquefied natural gas (LNG) plant at Yan’an in Shaanxi province at 40% of capacity after starting up the unit on 23 April, a company source said on Monday.

“LNG output from the plant will be supplied to Sinopec to meet demand from the residential and automotive sectors,” the source said, adding that Shaanxi Yanchang Petroleum is expected to start up its 1m cubic metre/day phase two project, located at Ganguyi in Yan’an, in June or July.

The company has set its LNG ex-works (EXW) price at yuan (CNY) 3,850/tonne ($612/tonne), the source added.

Shaanxi Yanchang Petroleum is one of the four qualified enterprises for oil and gas exploration in China.

($1 = CNY6.29)

By: Rebecca Qian

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