SunSirs: The Domestic LNG Market has Risen continuously and the Price has Risen sharply
December 05 2022 10:16:36 SunSirs (Selena)
According to the data monitoring of SunSirs, as of December 2, the average price of domestic LNG was 5,010 RMB/ton, which was higher than the average price of 4,022 RMB/ton on November 28. The domestic LNG price rose by 24.56% last week.
On November 29, PetroChina (from December 1 to December 7) bid for feed gas, and the final transaction price was 2.58-2.64 yuan/m3. The amount of feed gas delivered was all traded, and there was no auction. Due to the rise of raw material prices, the liquid factory quickly raised the prices, and the price mentality was high.
The domestic LNG market is well supplied, the liquid plants are actively reducing their stocks, and the over-the-counter trading is improving. Due to snowfall weather and epidemic control in some areas, transportation is blocked and supply is affected.
Last week, domestic cold air hit, cold wave and cooling weather occurred frequently, LNG demand increased, and downstream replenishment increased. Due to the rising market demand, the price of LNG continued to rise.
LNG analysts from SunSirs believe that the cost of the liquid plant has increased recently due to the rise in feed gas prices. The domestic weather is cooling, and the demand for natural gas is getting warmer. The price of liquefied natural gas has risen sharply. The cold wave in some areas has weakened due to the greater uncertainty of weather. It is expected that the rise of LNG will weaken in the short term, but there is still room for growth.
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