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LNG
Chinese LNG buyers are booking more of PipeChina’s spare import capacity from April to December with over 8m metric tons of capacity secured in the latest booking phase according to Bloomberg.
- PipeChina offers third-party access at various LNG terminals and releases the available capacity for the remainder of the year every month.
- The increased interest has coincided with spot prices falling to the lowest in three years with Asian spot LNG prices down more than 50% since mid-October.
- The capacity volume is equivalent to about 123 shipments, assuming a standard cargo size of 65k metric tons.
- Chinese buyers have secured at least 45 spot LNG cargoes in the last three months according to BNEF with most prices below $10/mmbtu.
- Provincial/municipal gas/energy companies and major city gas and LNG trading companies accounted for most of the buying interest with only small share for national oil companies CNOOC and PetroChina.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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