The average price for Chinese ex-works LNG jumped by 6% last week from the previous week, to a record RMB 8,066/t ($23.5/MMBtu), as a result of lower output after PetroChina extended gas supply cuts to LNG producers in Gansu and Ningxia.
Twenty-eight plants in Inner Mongolia, Hebei, Shanxi, Henan, Shandong, Jiangsu, Shaanxi, Ningxia and Xinjiang cut their asking prices by an average of 10%.
Pipeline gas transactions on the SHPGX
|Date||Transacted volume (cm)||Average price (RMB/cm)|
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