23 July 2013 10:15 [Source: ICIS news]
(Recasts headline for clarity)
SINGAPORE (ICIS)--Prices of imported liquefied natural gas (LNG) in southern China are expected to increase this month amid low inventories and tight domestic supply, local end-users said on Tuesday.
The increase may be as much as yuan (CNY) 600/tonne ($98/tonne) from July levels, some market sources said.
July LNG cargoes from the Dapeng and Putian terminals were offered at CNY5,205/tonne and at CNY5,450/tonne ex-terminal, respectively.
Inventories are low at both Guangdong Dapeng and Fujian Putian terminals following robust sales in the past two months, they said.
For the month of July, an average of 115 trucks – each can carry 20-21 tonnes of LNG – procured spot cargoes from the Dapeng terminal, up from a daily average of 40 trucks recorded in May, according to data compiled by C1 Energy.
Spot sales from Putian terminal, on the other hand, averaged 130 trucks/day, the data showed.
Meanwhile, supplies of domestically produced LNG from northern China have been tight since May because of rising prices, the end-users said.
($1 = CNY6.14)
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