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logo #CWCChinaLNG 4–6 March 2020

Bloomberg Articles Writeup

China’s Unipec Seeks More LNG Contracts, Considering U.S. Supply (Bloomberg) — Co. considering more long-term LNG contracts for supplies starting 2022 or later, President Chen Bo says at CWC China LNG & Natural Gas Summit in Beijing. NOTE: Unipec is trading arm for China Petroleum & Chemical Corp., known as Sinopec Looking at U.S. among […]

China’s Unipec Seeks More LNG Contracts, Considering U.S. Supply

(Bloomberg) — Co. considering more long-term LNG contracts for supplies starting 2022 or later, President Chen Bo says at CWC China LNG & Natural Gas Summit in Beijing.

  • NOTE: Unipec is trading arm for China Petroleum & Chemical Corp., known as Sinopec
  • Looking at U.S. among possible long-term LNG suppliers
    • Currently has LNG contracts for ~10m tons/year
  • Unipec resold 2m tons of LNG in 2016 and may resell more this year
    • Sold cargoes to buyers in Europe, Middle East, Argentina, Mexico
    • Unipec trying to be fully involved in fledgling LNG spot trading market amid good conditions
  • NOTE: Sinopec rival CNPC also looking to U.S. for LNG supply, chairman said Sunday

Cheniere Says 9 of Its U.S. LNG Exports Have Gone to China

By Bloomberg News


(Bloomberg) –U.S. co. has sent more than 100 cargoes abroad from its export terminal in Louisiana as of April 1, Andrew Walker, Cheniere’s vice president for strategy, says at CWC China LNG & Natural Gas Summit in Beijing.

  • U.S. has potential to become world’s largest exporter of LNG beyond 2020

China’s CNPC Says LNG Imports May Rise to 60bcm by 2020

By Bloomberg News


(Bloomberg) — That amount would equal about 15% of China’s natural gas supplies, Zhu Xingshan, a senior director with planning department at CNPC says at CWC China LNG & Natural Gas Summit in Beijing.

  • U.S. seen as setting global price for natural gas in the future
    • U.S. Henry Hub price may average $3/mmbtu by 2020 and $3-$5/mmbtu by 2040
    • China will increase LNG imports, especially from the U.S. and Trump policies are positive for those shipments
  • China’s LNG spot CIF price is $5-$7/mmbtu, or 1.18-1.64 yuan/cubic meter
  • China has long-term supply contracts for 43.55m tons/year

Guangzhou Gas Plans 2m Ton/Year LNG Import Terminal in Nansha

By Bloomberg News


(Bloomberg) — Import plant expected to start up by 2020, co.’s Deputy General Manager Liu Jingbo says at CWC China LNG & Natural Gas Summit in Beijing on Thursday.

  • Guangzhou Gas has annual gas supply of 1.08bcm

Vitol Has Physical Sales of 4.5m Tons of LNG So Far in 2017

By Bloomberg News


(Bloomberg) — Vitol had physical sales of 3m tons of LNG in 2016, according to presentation by Pablo Galante Escobar, co’s global head of LNG.

  • Escobar speaks at CWC China LNG & Natural Gas Summit in Beijing on Thursday

ENN Energy’s 1st LNG Terminal to Start in June-July of 2018

By Bloomberg News


(Bloomberg) — ENN Energy’s Zhoushan terminal to have 3m tons/year capacity and can quickly expand up to 10m tons/year, Vice President Ma Shenyuan says at CWC China LNG & Natural Gas Summit in Beijing on Thursday.

  • Co. plans to open terminal to 3rd-party access
  • ENN gas sales increased 27% last year

Vitol Says It’s Biggest International Oil, Gas Trader in China

By Bloomberg News


(Bloomberg) — Co. traded 10m tons of crude and oil products with Chinese national oil cos., oil majors and independent refineries last year, according to presentation by Pablo Galante Escobar, global head of LNG.

  • Vitol traded 1m tons of LNG with three China national oil cos. in 2016
  • Escobar spoke at CWC China LNG & Natural Gas Summit in Beijing on Thursday; presentation included:
    • Vitol is one of the largest and long-term exporters of oil products for China
    • Vital began trading with China oil majors in 1980s, opened Beijing representative office in 2000 and co. now has 12-person team in China
  • Earlier: Vitol Has Physical Sales of 4.5m Tons of LNG So Far in 2017

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