10-09-2022, 04:24 PM
07/09/2022
Chinese liquefied natural gas (LNG) companies have increased supplies for overseas market in response to rising demand from clients from Europe and elsewhere, against the backdrop of what could turn into an unprecedented energy crisis.
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Chinese companies are preparing for deals with European clients amid soaring demand there, and some companies saw overseas orders rise by double-digits in August.
As summer ended, the price of natural gas in Europe soared to about $2,500 per 1,000 cubic meters. That was up 2.6 times from the beginning of June
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A large energy company based in China’s northwestern Xinjiang told the Global Times on Monday that it is expanding trade with international LNG clients, including those from Europe.
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The company’s imports mostly come from countries like Australia under long-term contracts signed when prices were relatively low.
The person said that trade volume has been rising nearly every month, mainly going to European clients and it plans to further expand imports.
......
Some media claimed that certain Chinese energy companies had purchased natural gas from Russia and re-sold it to Europe, an allegation that has not been confirmed by any domestic companies so far.
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The reason why Europeans were able to build up their LNG reserves faster than expected was partly thanks to LNG exports from China, the Nikkei reported.
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In terms of LNG source countries, Australia was China’s No.1 supplier in 2021, with a volume of 31.14 million tons, accounting for 39.5 percent. The US came in second with 11.4 percent, followed by Qatar, and other countries such as Russia and Malaysia, industry data showed.
But experts warned that Europe cannot expect Chinese suppliers to cover its energy shortages, given that the total amount of gas that China can export to Europe is limited
......
“China’s natural gas is also in a tight supply, and the export volume is not large, and it is difficult to solve the crunch in Europe,”
......
Kremlin spokesman Dmitry Peskov told reporters on August 31 that the Russia-targeted sanctions imposed by the EU led to the suspension of the Nord Stream pipeline, TASS reported.
Moreover, Group of Seven finance ministers agreed on Friday to impose a price cap on Russian oil, media reported.
At a regular press conference held by the Ministry of Foreign Affairs on Monday, spokesperson Mao Ning said in response to media questions that relevant countries should make constructive efforts to ease the situation through dialogue and consultation, not the other way around.
https://www.hellenicshippingnews.com/chi...n-clients/
Chinese liquefied natural gas (LNG) companies have increased supplies for overseas market in response to rising demand from clients from Europe and elsewhere, against the backdrop of what could turn into an unprecedented energy crisis.
......
Chinese companies are preparing for deals with European clients amid soaring demand there, and some companies saw overseas orders rise by double-digits in August.
As summer ended, the price of natural gas in Europe soared to about $2,500 per 1,000 cubic meters. That was up 2.6 times from the beginning of June
......
A large energy company based in China’s northwestern Xinjiang told the Global Times on Monday that it is expanding trade with international LNG clients, including those from Europe.
......
The company’s imports mostly come from countries like Australia under long-term contracts signed when prices were relatively low.
The person said that trade volume has been rising nearly every month, mainly going to European clients and it plans to further expand imports.
......
Some media claimed that certain Chinese energy companies had purchased natural gas from Russia and re-sold it to Europe, an allegation that has not been confirmed by any domestic companies so far.
......
The reason why Europeans were able to build up their LNG reserves faster than expected was partly thanks to LNG exports from China, the Nikkei reported.
......
In terms of LNG source countries, Australia was China’s No.1 supplier in 2021, with a volume of 31.14 million tons, accounting for 39.5 percent. The US came in second with 11.4 percent, followed by Qatar, and other countries such as Russia and Malaysia, industry data showed.
But experts warned that Europe cannot expect Chinese suppliers to cover its energy shortages, given that the total amount of gas that China can export to Europe is limited
......
“China’s natural gas is also in a tight supply, and the export volume is not large, and it is difficult to solve the crunch in Europe,”
......
Kremlin spokesman Dmitry Peskov told reporters on August 31 that the Russia-targeted sanctions imposed by the EU led to the suspension of the Nord Stream pipeline, TASS reported.
Moreover, Group of Seven finance ministers agreed on Friday to impose a price cap on Russian oil, media reported.
At a regular press conference held by the Ministry of Foreign Affairs on Monday, spokesperson Mao Ning said in response to media questions that relevant countries should make constructive efforts to ease the situation through dialogue and consultation, not the other way around.
https://www.hellenicshippingnews.com/chi...n-clients/
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