According to the Commodity Market Analysis System of SunSirs, the price of LNG in China has increased this week. As of November 17th, the average price of LNG in China was 5,040 RMB/ton, which is 4.13% higher than the average price of 4,830 RMB/ton on November 13th.
Last week, domestic LNG prices continued to rise. This week, the domestic cold air has hit, with the arrival of cooling and snowfall weather. In addition to the arrival of the heating period, the demand for downstream replenishment has increased. Under the policy of limiting gas and ensuring supply, some liquid plants have reduced production and operation, resulting in a decrease in market supply and a temporary absence of liquid level pressure. In terms of sea and gas, some receiving stations have increased their prices. On the afternoon of November 17th, the bidding price for feed gas at PetroChina Northwest Liquid Plant in late November (November 20-November 30th) was 2.98 to 2.99 RMB/square meter, with a lower price increase of 0.18 RMB/square meter compared to the previous period and a higher price decrease of 0.11 RMB/square meter compared to the previous period. All 95 million cubic meters were sold. At present, there is still support on the cost side.
LNG analysts from SunSirs believe that with the recent cooling of the weather and the arrival of the heating season, coupled with cost support and supply reduction, domestic LNG prices have continued to rise. Under the influence of favorable factors, it is expected that the prices of LNG will be relatively strong in the short term and will be consolidated and operated.
