LNG World Shipping: Small players see opportunity in China’s LNG demand

8 August 2017: “A recent report by Poten & Partners has highlighted how smaller players are driving LNG demand in China. Zhejiang Provincial Energy Group (ZPEG) is looking to buy 1 million tonnes a year (mta) of LNG for 20 years from 2020.”

““Zhejiang Provincial Energy now owns a 29% stake in the planned Wenzhou LNG terminal, but wants a 51% stake. Sinopec has yet to build the Wenzhou terminal, but has secured government approval for the project,” Poten reports.”

“Poten also highlights growth in Chinese small-scale LNG demand. City gas distributor Xinjiang Guanghui has turned to spot cargoes, sourcing its first shipment, taking delivery of a 60,000-tonne cargo from Trafigura in early June and seeking a second partial cargo.”

 

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