25 October 2012 07:43 [Source: ICIS news]
SINGAPORE (ICIS)--PetroChina’s Changqing Oilfield has decided to raise the EXW (ex-works) prices of its gas to liquefied natural gas (LNG) producers, by 10% to yuan (CNY) 1.49/cbm ($0.24/cbm) from 1 November, a company source said on Thursday.
The move is to better balance the allocation of gas supplied to different sectors, the source explained.
The price hike is also expected to cool down the overheating investments in liquefaction facilities as the raw material cost is increased, the source added.
($1 = CNY6.25)
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