Spot sales of imported LNG fall in east China on higher cost

01 March 2013 06:56  [Source: ICIS news]

SINGAPORE (ICIS)--Sales of imported liquefied natural gas (LNG) in east China’s spot markets have declined to about 30 trucks/day (20 tonnes per truck) in late February because of higher costs, local traders said on Friday.

Imported LNG for March delivery via trucks was offered at yuan (CNY) 4,900-5,450/tonne (DEL) delivered in the domestic market, one of the traders said.

In comparison, domestically produced LNG from northern regions was traded at CNY4,500-5,000/tonne DEL on 28 February in the spot market in east China, the traders said.

Meanwhile, the rising domestic LNG supply after the Chinese Lunar New Year holiday (9-15 February) is also attributed to the drop in the sales of imported volumes, the traders said.

The average utilisation rate of China’s LNG liquefaction facilities was at 59% on 28 February, versus an average of 49% in December and January, ICIS data showed.

More than 80 trucks/day of imported LNG were traded in each China before the Lunar New Year holiday when domestic supply was tight and demand was strong, the traders added.

($1 = CNY6.22)

By: Rita Huang
+65 6780 4327

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