09 October 2012 11:24 [Source: ICIS news]
SINGAPORE (ICIS)--Some producers of liquefied natural gas (LNG) in north and northwest ?xml:namespace>
Stocks have been piling up since late September when industrial demand fell during the Mid-Autumn festival and National Day holiday from 30 September to 7 October, the sources explained.
Meanwhile, LNG delivery from the northern production regions to the consumption hubs in south and east
Inner Mongolia-based Shitai Natural Gas Business, which operates a 300,000 cubic metres (cbm)/day liquefaction plant at Etuokeqian, cut its LNG prices by CNY100/tonne to CNY3,200/tonne EXW (ex-works) on 8 October from two weeks ago.
Most domestic LNG producers chose to keep their prices unchanged amid a wait-and-see sentiment, as LNG demand is expected to rebound in the near term when heating season starts in northern areas along with cooling weather, a northwest China-based LNG supplier said.
However, LNG EXW prices are unlikely to increase in October if upstream supplies rise significantly, a separate supplier in north
Most suppliers which have their liquefaction plants shut plan to resume production in the near term, and those with plants under construction also plan for unit start-ups, the supplier added.
($1 = CNY6.29)
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