China buys more LNG as output increases
Source: Bloomberg News |
January 22, 2013, Tuesday
|
Print Edition
Print Edition
CHINA'S imports of liquefied natural gas in December surged to a record amid gains in the country's industrial output.
LNG brought into the country increased to 1.83 million metric tons, 21 percent more than a year ago, according to data e-mailed by the General Administration of Customs yesterday. This is 69 percent higher than in November, the largest monthly gain since September 2009.
Prices for the fuel in December climbed to US$557 a ton from US$556 in November, the customs data show.
LNG purchases rose as heating demand generated by colder weather boosted use of the fuel. Industrial output growth rose 10.3 percent in December for a fourth monthly gain, government data showed on Friday.
In 2012, China imported a record volume of 14.68 million tons of LNG, up 20.3 percent from 12.21 million tons a year earlier. It last year paid US$560 a ton, equivalent to US$10.77 per million British thermal units, compared with US$472 a ton in 2011.
China buys the bulk of its LNG under multi-year contracts from Indonesia, Malaysia, Qatar and Australia.
In December, China imported 1.54 million tons of natural gas by pipeline, a fall from November's 1.61 million tons, the data show. It paid US$548 a ton for its piped natural gas, up from US$517 in November. That's equivalent to US$10.54 per million British thermal units.
China brings in natural gas from Turkmenistan and Uzbekistan through the Second West-East gas pipeline which is owned and operated by state-owned China National Petroleum Corp.
LNG brought into the country increased to 1.83 million metric tons, 21 percent more than a year ago, according to data e-mailed by the General Administration of Customs yesterday. This is 69 percent higher than in November, the largest monthly gain since September 2009.
Prices for the fuel in December climbed to US$557 a ton from US$556 in November, the customs data show.
LNG purchases rose as heating demand generated by colder weather boosted use of the fuel. Industrial output growth rose 10.3 percent in December for a fourth monthly gain, government data showed on Friday.
In 2012, China imported a record volume of 14.68 million tons of LNG, up 20.3 percent from 12.21 million tons a year earlier. It last year paid US$560 a ton, equivalent to US$10.77 per million British thermal units, compared with US$472 a ton in 2011.
China buys the bulk of its LNG under multi-year contracts from Indonesia, Malaysia, Qatar and Australia.
In December, China imported 1.54 million tons of natural gas by pipeline, a fall from November's 1.61 million tons, the data show. It paid US$548 a ton for its piped natural gas, up from US$517 in November. That's equivalent to US$10.54 per million British thermal units.
China brings in natural gas from Turkmenistan and Uzbekistan through the Second West-East gas pipeline which is owned and operated by state-owned China National Petroleum Corp.
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