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China’s LNG terminals hike prices to cover import costs

Last month’s rally in Asian spot LNG prices has forced China’s importers to lift prices for the fuel at terminals to cover rising import costs Last month’s rally in Asian spot LNG prices has forced China’s importers to lift prices for the fuel at terminals to cover rising import costs.
By Tang Tian 11 July 2018 0 31687
The Dapeng LNG terminal in China The Dapeng LNG terminal. (GDLNG)

China’s LNG importers have hiked prices for the fuel at southern and eastern terminals – by double digits in some cases – as they look to pass on increases in import costs caused by recent large global supply outages and storage-related demand from Asian buyers.

Ex-terminal LNG prices at PetroChina’s Rudong facility in Jiangsu province stood at RMB 4,350 per ton ($12.6/MMBtu) on Wednesday, up by more than 10% from RMB 3,950/t at the start of June, according to data from SCI International.

Prices at Sinopec’s terminal...