China’s domestic LNG supply to rebound in late January

11 January 2013 07:16  [Source: ICIS news]

SINGAPORE (ICIS)--China’s domestic supply of liquefied natural gas (LNG) is expected to rebound in late January as a result of an increase in the gas supply to LNG plants, several Chinese LNG producers said on Friday.

“Colleges, universities and some industrial users will suspend operations gradually in late January while approaching the Lunar New Year holiday in the first half of February,” said a source from PetroChina’s Changqing Oilfield, a major gas supplier to LNG producers.

“Therefore, gas supplies to LNG producers are likely to increase from 20 January in line with falling piped gas consumption in other sectors,” the source added.

Meanwhile, transactions are expected to weaken in late January as a result of declining downstream demand, the LNG producers said.

Eight LNG plants with a combined daily liquefaction capacity of 2.7m cubic metres were shut down in response to insufficient gas supply, ICIS data showed.

By: Jane Han

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