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China Increase LNG Purchases on Low Prices and Cold Weather

LNG

Softer LNG prices at the lowest since August are encouraging China to increase LNG purchases while cold weather is also adding interest according to Bloomberg.

  • Smaller buyers, including Shenzhen Energy Group and Beijing Gas Group have bought spot cargoes for Dec to Jan delivery while ENN Energy Holdings purchase for Feb delivery according to Bloomberg sources.
  • Strong gas inventories are offsetting winter supply concerns but cold weather in parts of the country is starting to draw on storage.
  • There will be enough supply through the cold season despite record daily fuel demand on Sunday according to the National Development and Reform Commission on Tuesday. Heating fuel inventories including LNG have been kept high for winter.
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