China’s Sinopec Plans Record LNG Imports to Battle Cold Snap
SINGAPORE (Reuters) – Sinopec Corp pledged on Tuesday to maximize domestic gas productions and raise imports of LNG to record rates as a cold spell hitting large parts of the country this week lifts demand for the winter heating fuel.
On Monday, China’s central economic planner, the National Development and Reform Commission (NDRC) urged companies to step up imports of natural gas and thermal coal as temperatures are set to fall sharply.
Sinopec, already Asia’s top-spot importer of LNG via a string of tenders ahead of winter, said on its micro blog its LNG imports into receiving terminals in north China’s Tianjin and east China’s Qingdao will reach new highs in January, without giving a volume.
The company will also increase domestic natural gas production by another one million cubic meters a day by the end of January by accelerating the drilling of new development wells.
It’s also maximizing extracting gas from its underground storage in central and east China, while maintaining high inventories at LNG storage tanks, the company said.
Related News
Related News
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- Four Petroleum Liquids Pipelines Completed in U.S. Since 2023
- Lighter U.S. Permian Crude Risks Losing Favor with Refiners Due to Processing Challenges
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
Comments