China NOCs hike gas prices to avert winter crunch
22 November 2016
Beijing. The city’s heating-related gas demand has almost doubled as temperatures have tumbled. (Gazprom)
State-owned energy giants PetroChina and China National Offshore Oil Corp. (CNOOC) have hiked their wholesale gas prices for non-residential users. The move reflects tighter supplies of the fuel and follows the end on Sunday of a one-year moratorium on price adjustments.
PetroChina’s gas sales branch for northern China informed customers on 7 November that it would raise non-residential citygate prices by 15% from 20 November until 15 March 2017, according to internal documents seen by Interfax Natural Gas Daily. The subsidiary attributed the increase to surging demand and limited supply capacity in the region.
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