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25-26 NOVEMBER | CHINA WORLD SUMMIT WING, BEIJING

Industry News

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China Gov. Issued Implementation Plan for Natural Gas Storage System

On April 14, 2020, NDRC, MOF, MNR, MOHURD and NEA jointly issued the Implementation Opinion of Natural Gas Storage Capacity Promotion (hereinafter referred to as “Opinion”)

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China's foreign trade volume falls 6.4% in Q1

China's foreign trade volume totaled 6.57 trillion yuan in the first quarter of this year, falling 6.4 percent year-on-year, data released by the General Administration of Customs showed on Tuesday.

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China to build commodity trading centre in Caofeidian, aims over $7 billion trade by 2022

China will beef up its Caofeidian pilot free trade zone, prioritising the development of international commodities trade and bringing in more foreign investments, local government said on Monday.

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UPDATE 1-LNG tanker Maran Gas Vergina to discharge first U.S. cargo in China in 13 months

The tanker Maran Gas Vergina has arrived in China with the first delivery of U.S. liquefied natural gas (LNG) in 13 months, shipping data showed on Monday.

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China's delayed Two Sessions congress to go ahead in May, reflecting confidence over coronavirus

The Chinese Communist Party will open its annual congress on May 22, after postponing the event for a number of weeks due to the coronavirus epidemic.

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China expects a further recovery in Q2 despite external headwinds

China is expecting a sustained recovery in the second quarter despite headwinds from plunging external demand.

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China's GCL, Shell sign preliminary deal on LNG trading joint venture

GCL Oil& Natural Gas Co Ltd has signed a framework agreement with Royal Dutch Shell to explore setting up a joint venture based in eastern China to market and trade liquefied natural gas (LNG), the privately owned Chinese company said on Tuesday.

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CSSC inked $2.86 billion contract for construction of LNG carriers: China to support Qatar’s LNG expansion demand

China State Shipbuilding Corporation (CSSC) and Qatar Petroleum officially signed a RMB20bn($2.86bn) contract for the construction of LNG carriers at CSSC Hudong-Zhonghua Shipbuilding.

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Large gas belt discovered in Sichuan Province

An oilfield branch of PetroChina, China's largest oil and gas producer, announced their discovery of a huge natural gas belt with an estimated reserve of over 1 trillion cubic meters in southwest China's Sichuan Province.

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China's Foran Energy Group buys spot LNG cargo in rare move

China's Foran Energy Group 002911.SZ, formerly known as Foshan Gas Group, bought a liquefied natural gas (LNG) cargo in the spot market in a rare move, four traders said on Wednesday.

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China starts new LNG terminal project in Shandong

The project is the first energy infrastructure project PipeChina has built since the company was set up in December last year.

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Asian LNG next in line for storage challenges

The Japan-Korea marker for next month is US$2 per million British thermal units, the same price it has been for spot cargoes for some months as more come onto the market.

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China to favor LNG over piped gas imports: Fitch

China is likely to favor liquefied natural gas (LNG) imports over pipeline gas supply until 2027, Fitch Solutions said on Monday. The super-chilled fuel will continue to be dominant over piped gas imports because of rampant expansion of domestic LNG import capacity. In addition, it will take the Power of Siberia pipeline five years to ramp up to optimal capacity, Kallanish Energy reports.

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Seven U.S. LNG cargoes heading for China in May, highest since Jan 2018

Seven liquefied natural gas (LNG) cargoes that loaded from the United States are expected to be delivered into China in May, the highest number of cargoes for this route since January 2018, shiptracking data from Refinitiv and Kpler showed.

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Tianjin port tops LNG imports in China

North China's Tianjin port ranked first in liquefied natural gas (LNG) imports in the first four months of this year, accounting for nearly 20 percent of the country's total LNG imports, according to the Tianjin Customs.

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Sinopec to build $2.8 billion LNG terminal in eastern China

The project, which will be jointly constructed and operated with a local government-backed company, will have annual LNG receiving capacity of 15 million tonnes and become the third LNG terminal in the eastern Chinese port city.

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China Begins Consolidation Of $100+ Billion Oil & Gas Pipeline Industry

China has required the three biggest state-held oil corporations to transfer the management of half of their liquefied natural gas (LNG) terminals to the newly created state-controlled midstream firm, Caixin Global reported, citing industry insiders.

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China imports 1.58b cubic meters of natural gas via landmark pipeline from Russia

Heihe Customs in Northeast China’s Heilongjiang province has supervised the importation of 1.58 billion cubic meters of natural gas via the China-Russia east-route natural gas pipeline over the past six months.

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LNG recovery in Asia depends on China, India policies

The International Energy Agency (IEA) forecasts a gradual recovery in demand in 2021 and 2022, but the impact of the coronavirus will be long lasting, increase uncertainties and dampen growth rates.

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China Set To Ramp Up Natural Gas Imports This Decade

The Coronavirus pandemic is devastating global demand for commodities such as oil and gas. China’s GDP fell by 6.8 percent during the first quarter, which is the first contraction since the cultural revolution.

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China targets rise in oil, natural gas output this year

China aims to produce 1% more crude oil this year than in 2019 and to boost natural gas output by 4.3%, official targets showed on Monday, as the country seeks to safeguard energy security even after a coronavirus-driven collapse in oil prices.

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CNOOC buys carbon neutral LNG cargoes from Shell

Chinese state-controlled importer CNOOC has signed a deal to receive two "carbon neutral" LNG cargoes from Shell for delivery to China, marking the country's first such LNG receipts.

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