China gas and power month in brief 2019
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Table of contents
- Executive summary
-
Markets
- Winter gas demand disappoints, despite high LNG imports
- Power demand in 2019 slows significantly amid trade protectionism
-
Policy
- China urges market players to sign long-term power sales and purchase contracts
-
Corporate activity
- PetroChina’s shale gas output jumps 87% year-on-year, lifting China total shale production to 15 bcm in 2019
- Jingran Energy commits to 20-cargo TPA slots
- Gas exchanges reach record-high transaction volume
- Smog Watch
- Appendix: power charts
-
Markets
- Economic factors and infrastructure issues behind low growth in October
- Power demand picked up in October, growth still weaker than 2018
-
Policy
- China plans to deregulate city-gate prices
-
Corporate activity
- Power of Siberia delivers first gas to China
- Liaohe underground gas storage group begins construction
- National pipeline company emerges at last
- Smog Watch
- Executive summary
-
Markets
- Supply-side interruptions dull October LNG imports
- Power demand weakens as economy slows
-
Policy
- China announces new coal on-grid tariff policy
-
Corporate activity
- Suntien’s Tangshan LNG terminal approved by NDRC
- PetroChina plans Maoming LNG terminal in Guangdong province
- Outage at Rudong LNG terminal supports trucked LNG prices
- Smog Watch
- Executive summary: coal power benchmark pricing faces overhaul
-
Markets
- Gas demand response to domestic price cut remains limited
- Power demand growth decelerates amid economic downward pressure
-
Policy
- China sets higher residential coal-to-gas switching target this winter
- China aims to overhaul electricity benchmark pricing system
-
Corporate activity
- ENN begins construction of submarine pipeline at Zhoushan terminal
- Kazakhstan gas outlook
- Yanchang Petroleum becomes major stakeholder of Shaanxi Gas
- Smog Watch
- Executive summary: demand holds up as storage tightens
-
Markets
- Supply optimisation helps LNG imports, but storage is reaching its limit
- China’s power demand growth slows further
-
Corporate activity
- Upstream supply connects to Power of Siberia pipeline
- Shenzhen Gas receives commissioning cargo at Hua’an terminal
- Guangzhou Gas terminates HOA with Woodfibre LNG
- PetroChina tightens gas supply to LNG plants in north China
- ISO LNG containers shipping via railway trials in September
- Smog Watch
- Executive summary: summer slowdown, yet market keeps evolving
-
Markets
- Multiple factors slowing gas and LNG growth in 2019
- China’s power demand growth faces more downward pressure
-
Policy
- China drafts detailed measures for disclosing oil and gas infrastructure information
- New unconventional subsidy budget set at RMB5.1 billion
-
Corporate activity
- Top Speed Energy will expand LNG imports via ISO containers
- ENN’s terminal gains eight-month permit to truck LNG via Zhoushan bridge
- PetroChina’s Kunlun Energy farms in more local distribution business
- Landbridge teams up with Beijing Energy to build Rizhao LNG terminal
- Gas injection at Sinopec’s Wen 23 storage facility progresses ahead of schedule
- Guangzhou Gas-led group receives first cargo via third-party access at Dapeng
- Smog Watch
- Executive summary:economic slowdown weighs heavier on demand
-
Markets
- Gas demand weakens further
- US-China trade issues begin to impact power demand
-
Policy
- China extends unconventional gas subsidy to 2023 and includes tight gas
- China eases restrictions on foreign investment in oil and gas
- Policymaker requires greater disclosure of pipeline information and aims for energy content-based pricing for natural gas
-
Corporate activity
- Hong Kong offshore LNG terminal locks in supply and FSRU chartering
- CNOOC sells first two mid-term deals for third-party access to its terminals
- Smog Watch
- Executive summary:reforms gain momentum
-
Markets
- Gas demand holding double-digit growth but summer spot LNG needs remain low
- Power demand faces downward pressure
-
Policy
- Renewable portfolio standard released, finally
- China raises US LNG import tariffs to 25%
-
Corporate activity
- PetroChina increases summer gas prices as the government’s midstream reform gains momentum
- Zhejiang Energy plans second terminal in Zhoushan
- Yudean imports first cargo via third-party access at Dapeng terminal
- Smog Watch
- Executive summary:market chills but buyers remain active
-
Markets
- Swings in industrial demand key to total power demand growth
-
Policy
- Zhejiang unifies sales gas price for the non-heating season
- Could a 20-25% reduction in feed-in tariff disrupt solar PV power industry?
-
Corporate activity
- Sinopec’s Wen 23 underground storage connected to main gas grid
- CNOOC and CNPC to buy 20% stake in Arctic LNG 2
- Zhejiang Energy signs 20-year, 1-mmtpa SPA with ExxonMobil
- BP to exit Sichuan shale
- Smog watch
- Executive summary:demand faces tough start to the year
-
Markets
- LNG imports growth slows in February, demand response to low Asia spot price limited so far
- Power demand growth decelerates in the first two months
-
Policy
- China lowers value-added tax rate on natural gas
- US-China trade dispute still holding back LNG trade
- Is China’s nuclear power construction about to speed up?
- China offers to cut power prices by 10% in 2019
-
Corporate activity
- CNOOC offers more third-party access to its terminals, with challenging terms
- Yudean seeks to take advantage of low spot prices
- PNG LNG signs four-year SPA with Sinopec
- Total signs 10-year SPA with Guanghui
- Woodside signs 10-year HoA with ENN
- National oil and gas pipeline company unbundling transportation and sales is in sight
- Smog watch
- Executive summary: more LNG terminals planned by 2035
-
Markets
- LNG imports hit record high in January
- Industry remains biggest driver of power demand despite its declining share
-
Policy
- China plans coastal and riverside LNG terminals rollout to 2035
- Offshore wind auction mechanism will have limited impact to reduce power price
- Subsidy-free wind and solar policy sets the tone for future growth
-
Corporate activity
- Qidong terminal to reach 3 mmtpa as pipeline to Nantong starts construction
- PetroChina accelerates underground storage construction
- CNOOC signs 13-year SPA with Mozambique LNG
- Shale gas drilling suspended after three earthquakes in two days
-
Smog Watch
- Air quality improves in February, but festive fireworks almost spoil the party
- October 2018: Moderate demand reduces winter gas shortage threat
- September 2018: Chinese buyers to shape global LNG trends
- August2018: Can summer storage stop winter shortage?
- July 2018: China remains hungry for gas
- June 2018: Industrial sector drives strong gas demand growth
- May 2018: Energy reforms gather momentum
- April 2018: Demand growth meets seasonal slowdown
- March 2018: LNG and power markets remained hot
- February 2018: LNG imports hit new record
- January 2018: Record-high LNG imports ending country's over-contracted position
Tables and charts
This report includes 75 images and tables including:
- Beijing AQI
- Power demand: chemical sector
- Power demand: non-ferrous metallurgy sector
- Power demand: ferrous metallurgy sector
- Power demand: selected provinces
- Beijing AQI
- Beijing AQI
- Beijing AQI
- Beijing AQI
- Beijing AQI
- Beijing AQI
- Beijing AQI
- Monthly gas demand, bcm
- Monthly LNG imports, Mt
- Monthly power demand, Twh
- Beijing AQI
- Monthly gas demand, bcm
- Monthly LNG imports, Mt
- Beijing AQI
- Monthly gas demand, bcm
- Monthly LNG imports, Mt
- Beijing AQI
- Monthly gas demand, bcm
- Monthly LNG imports, Mt
- Monthly power demand, TWh
- China historical shale gas production
- Monthly gas demand, bcm
- Monthly LNG imports, Mt
- Monthly power demand, TWh
- China Oil & Gas Piping Network Corporation’s assets as speculated
- Monthly gas demand, bcm
- Monthly LNG imports, Mt
- Year-to-date growth of demand by province in 2018
- Year-to-date growth of demand by province in 2019
- Year-to-date growth of demand by sector in 2018
- Year-to-date growth of demand by sector in 2019
- Monthly power demand, TWh
- Monthly gas demand, bcm
- Monthly LNG imports, Mt
- Monthly power demand, TWh
- ENN LNG contracts
- Monthly gas demand, bcm
- Monthly LNG imports, Mt
- Monthly power demand, TWh
- Monthly gas demand, bcm
- Monthly LNG imports, Mt
- Monthly power demand, TWh
- Terminals proposed in Rizhao and Yantai, Shandong
- Monthly gas demand, bcm
- Monthly LNG imports, Mt
- Monthly power demand, TWh
- Monthly gas demand, bcm
- Monthly LNG imports, Mt
- Monthly power demand, TWh
- 2020 renewable RPS* targets
- 2020 non-hydro RPS targets
- US LNG imports vs China's total LNG imports
- Summer 2019 price scheme for wholesale gas at provincial city gate
- Zhejiang Gas sales price
- Monthly power demand, Twh
- City-gate prices benchmark set by the NDRC (RMB)
- City-gate prices benchmark set by the NDRC (USD)
- Third-party access offered by CNOOC
- Monthly power demand, Twh
- Power demand growth rate by sector
What's included
This report contains:
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