Markets & Forecasts
PetroChina shows preference for cheap spot LNG over piped gas
PetroChina has ramped down its Central Asian piped imports in recent months amid a prolonged slump in Asian spot LNG prices that has made the fuel more attractive PetroChina has ramped down its Central Asian piped imports in recent months amid a prolonged slump in Asian spot LNG prices that has made the fuel more attractive.
17 July 2019
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China’s imports of pipeline gas from Central Asia look likely to continue to fall on an annual basis over the coming months, as spot LNG prices in Asia are at their lowest level in years and are providing state-owned PetroChina with a cheaper alternative to oil-linked piped volumes.
Asian spot LNG prices have spiralled down towards the $4.0/MMBtu mark in recent weeks, approaching historic lows for the region and falling below European gas hub prices at times. Any reversal in the trend over the near term...
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