China’s Hengtong New Energy Development to supply LNG in late Aug

23 August 2012 09:49  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Hengtong New Energy Development plans to start commercial supply of liquefied natural gas (LNG) from its 300,000 cubic metre (cbm)/day plant at Baotou in Inner Mongolia in late August, a company source said on Thursday.

However, the actual date and prices are not settled yet, the source said.

The company has been conducting trial runs and operating the plant at 30% of capacity since 15 August, the source added.

The plant is the first phase of a 1m cbm/day project at the same site that involves an investment of about yuan (CNY) 95.4m ($15m), the source said.

Feedstock gas is mainly supplied by PetroChina Changqing Oilfield, according to the source.

LNG supply will rise and competition among domestic producers will intensify in the region. However, it will have minimal impact on the Chinese market in the near term.

Hengtong New Energy Development is largely engaged in the investment, construction and management of natural gas liquefaction and utilisation facilities.

($1 = CNY6.35)

By: Jane Han

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