China LNG plants' capacity utilization rate down on feed gas shortage
The average capacity utilization rates among domestic 246 LNG plants stood at 48.77% by the week ended December 21, a decrease of 6.18 percentage points from the prior week, data from OilChem showed.
The 246 plants had a combined LNG production of 591 million cubic meters during the same period, down 11.23% from a week ago, the data showed.
The decrease was attributed to the production suspention or reduction of some LNG plants in Northwest and Central China, as the falling tempertures across most regions of China drove up city gas demand, which caused the feed gas short of supply.
Looking ahead, PetroChina refienries in Northwest and Southwest China will successively shut the production in the coming days as the feed gas supply will continue to reduce. But city gas demand will shrink after December 25 as the temperature warms up, which will ease the shortage of feed gas supply.
Therefore, OilChem expects that the overall capacity utilization rates will drop first and then increase in the near term.
China LNG Plants' Production and Capacity Utilization Rate
Source: OilChem
China LNG Plants' Capacity Utilization Rate Outlook
Source: OilChem
Written by Sunny Fang, fss@oilchem.net
Edited by Aggie Hu, huchenying@mysteel.com
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