MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Higher At 7.1046 Fri; -5.03% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1046 FRI VS 7.1020

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

INE Business Confidence Data Supports Upward Revisions In Q1 GDP Forecasts

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Novatek Close to Gas Supply Agreement to GAIL

LNG

Russia's Novatek is close to an agreement to supply gas to India’s GAIL according to Reuters sources.

  • Negotiations are ongoing but terms could be agreed within a week. Contract volumes would depend on logistics, such as shipping and insurance.
  • Novatek is offering a long term deal for a few LNG cargoes every month on a free-on-board basis. GAIL are looking for delivery to the port with concern over shipping and insurance according to the sources.
  • A preliminary deal could be signed when Novatek Chairman Leonid Mikhelson visits India next week.
  • Earlier this week GAIL were reported to be looking for long-term gas import deals due to disruption to existing supplies according to the head of finance Rakesh Kumar Jain. LNG supplies from Gazprom Marketing and Singapore (GMTS) were halted in May impacting local gas distribution from GAIL.
  • Russia is looking for alternative buyers for gas exports as Europe has dramatically reduced imports over the last year.
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