PetroChina’s LNG imports into Rudong terminal rise further in Dec

26 December 2012 07:46  [Source: ICIS news]

SINGAPORE (ICIS)--PetroChina has increased its import volume of liquefied natural gas (LNG) into the Rudong terminal in east China’s Jiangsu province in 2012, by receiving about 400,000 tonnes of LNG in December, a source close to the company said on Wednesday.

Six or seven cargoes arrived in December, a significant rise compared with the regular one or two cargoes per month previously, said the source from Jiangsu Huagang Gas, a PetroChina subsidiary.

One of the December cargoes will go into Jiangsu Huagang Gas’ third 160,000 cubic metre (cbm) LNG tank which came on stream at the Rudong terminal in November, the source said.

The rest will be mainly supplied to the Yangtze River Delta in east China region through gas pipelines after re-gasification, with a few distributed via truck delivery, the source added.

Demand for piped gas from end-users in the Yangtze River Delta for heating purposes has remained strong because of falling temperatures during winter, market sources said.

Gas supplies even fell short in some cities, the sources added.

PetroChina has been piping an average of 27m cbm per day of natural gas  from its Rudong terminal since 19 December in order to satisfy the strong demand, the company said in its official website.

Meanwhile, Jiangsu Huagang Gas increased its daily LNG supply to more than 30 trucks in late December, compared with about 20 trucks in the middle of the month, as a result of rising downstream demand, the company source said.

“We may continue to raise LNG supply in January 2013, and prices are likely to mark up if China National Offshore Oil Corp [CNOOC] and domestic suppliers raise their offers,” the source said, adding that they did not plan for a price hike in order to secure market share.

Jiangsu Huagang Gas is largely engaged in the supply and distribution of piped gas, LNG and compressed natural gas (CNG), and the construction and installation of gas supply facilities.



By: Rita Huang
+65 6780 4327



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