Shaanxi floods trigger spike in Chinese LNG prices

By Tang Tian 9 August 2017
  • Twitter logo
  • LinkedIn logo
  • facebook logo
  • Email logo
With supplies limited, some buyers are turning to the Tianjin terminal to meet demand. (CNOOC) With supplies limited, some buyers are turning to the Tianjin terminal to meet demand. (CNOOC)

Northern Shaanxi is facing its worst flooding for decades. The situation has raised wholesale LNG prices locally and in neighbouring Shanxi, and further increases are expected this month.

Heavy downpours battered the city of Yulin for 12 hours during 25-26 July, causing flooding in the counties of Suide, Zizhou and Mizhi. More than 71,300 people were relocated and direct economic losses will exceed RMB 230 million ($34.1 million), the provincial flood control headquarters said following the disaster.

Log in or register for a free trial to continue reading this article

Already a subscriber?

If you already have a subscription, sign in to continue reading this article.

Sign in

Not a subscriber?

To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.

Sign up