MNI BRIEF: Canada PM Carney Derides Trump's 51st State Idea

MNI BRIEF: Carney Sworn In As PM, Names Champagne To Finance

MNI China Daily Summary: Friday, March 14

MNI BRIEF: China February M2 Stays At 7% Y/Y

RPT-MNI INTERVIEW2: Lag Justifies Faster CNB Easing - Holub

BAKER HUGHES CANADA RIG COUNT 199; OIL RIGS 139; GAS RIGS 60

MNI: BAKER HUGHES US RIG COUNT 592; OIL RIGS 487; GAS RIGS 100

EZ/UK T-Bill Calendar: DE, NL and FR Due Monday

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NATGAS: Cnooc Cuts Pipeline Gas Prices Amid Soft China Demand: OilChem

NATGAS
Energy BulletsChinaBulletAPACCommodities

Cnooc has cut contract prices for pipeline gas delivery due to soft demand from cost-sensitive industries, according to OilChem cited by Bloomberg.

  • The company cut the contract price for gas delivered during summer to 2.8 yuan/cm and for winter to 3 yuan/cm.
  • China’s domestic LNG price declines in March on weak demand and sufficient pipeline gas.
  • Interest from industrial buyers is limited for LNG costing more than 5,000 yuan/ton, or $14.88/mmbtu. Oilchem expects China’s domestic LNG price around 4,000 yuan/ton before the next winter.
  • Inventories at some northern China terminals have dropped below 65% of capacity amid cargo resales.
95 words

To read the full story

Close

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.

Cnooc has cut contract prices for pipeline gas delivery due to soft demand from cost-sensitive industries, according to OilChem cited by Bloomberg.

  • The company cut the contract price for gas delivered during summer to 2.8 yuan/cm and for winter to 3 yuan/cm.
  • China’s domestic LNG price declines in March on weak demand and sufficient pipeline gas.
  • Interest from industrial buyers is limited for LNG costing more than 5,000 yuan/ton, or $14.88/mmbtu. Oilchem expects China’s domestic LNG price around 4,000 yuan/ton before the next winter.
  • Inventories at some northern China terminals have dropped below 65% of capacity amid cargo resales.