China’s Xinyuan Natural Gas ready for commercial LNG supply

15 October 2012 09:10  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Xinyuan Natural Gas is ready to sell liquefied natural gas (LNG) after conducting trial runs at its 300,000 cubic metre/day (cbm/day) liquefaction plant since 12 October, a company source said on Monday.

The company is running the unit at Baotou in Inner Mongolia at 50% capacity, and is gradually increasing the utilisation rate.

LNG output is being offered at yuan (CNY) 3,600/tonne ($574/tonne) ex-works (EXW), targeting consumers and traders in northeast China, the source said.

The company also works with third-party logistics companies to provide delivery services, the source added.

The plant is equipped with a 4,500cbm storage tank and will mainly process natural gas supplied by Chinese oil and gas giant PetroChina’s Changqing oil field.

Baotou-based Xinyuan Natural Gas largely engages LNG production and distribution.

($1 = CNY6.27)

By: Jane Han

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