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SunSirs: China Domestic LNG Fell sharply and Rebounded at the End of November
December 02 2022 10:08:22SunSirs(Selena)

According to the data monitoring of SunSirs, as of November 30, the average price of domestic LNG was 4,514 RMB/ ton, which was 17.17% lower than the average price of 5,450 RMB/ ton on November 1.

According to the weekly rise and fall from September 5, 2022 to November 27, 2022, it can be seen that the domestic LNG fell a lot in November, and the maximum decline in November was -7.16% in the week of November 21.

From 8:00 on November 15 to 8:00 on November 20, PetroChina's feed gas is priced at the benchmark price of 2.48 yuan/m3. As the price of feed gas was lowered, the cost pressure of the LNG plant was reduced, and the LNG plant began to reduce the price significantly. On November 29, PetroChina's feed gas was auctioned, and the final transaction price was 2.58-2.64 RMB/m3. The price of feed gas rose at the end of the month, and the LNG plant quickly raised the price.

The domestic LNG market is well supplied this month. The market supply exceeds the demand, and the high LNG price begins to cover the drop. In some areas, due to snow weather and epidemic control, transportation was blocked, and enterprises cut prices one after another to digest inventory.

The domestic LNG market demand is weak and the trading and investment are flat this month. The price fell sharply in the air, which was bad for the domestic market. At the beginning of the month, the heating season came, but the temperature was high, the demand did not improve, and the LNG plant discharged more inventory and reduced the price. At the end of the month, the domestic cold air hit, and the demand for LNG increased slightly.

SunSirs LNG analysts from SunSirs believe that: at present, the feed gas market has risen, and the cost of the LNG plant has increased. In recent days, the domestic weather has cooled down, and the demand for natural gas is expected to recover. Most LNG plants are still in high prices. It is expected that the market price of LNG will continue to rise in China in the short term.

 

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