China LNG plants' capacity utilization rate up on production increment
The average capacity utilization rate of domestic LNG plants stood at 48.7% by the week ended January 11, a slight increase of 0.25 percentage points from the prior week, data from OilChem showed.
Those plants had a combined LNG production of 592.65 million cubic meters during the same period, up 0.72% from a week ago, the data showed.
The rise was attributed to the production increment of some plants due to the relieve of feed gas shortage, amdist weakening city gas demand on rising tempertures and falling industrial demand in view of environment inspection and overcapacity.
In addition, Shanxi Jinye Coking put its LNG plants into operation on January 8, raising domestic LNG plant's production capacity by 600,000 cubic meters to 174.1 million cubic meters per day.
Looking ahead, due to sufficient PNG supply, state-owned PertroChina offered 77 million cubic meters of natural gas to LNG plants in the west part of China for delivery over January 14-21 for auction, with a daily average of 11 million cubic meters, an increase of 2.8 million cubic meters per day compared to the prior week.
Moreover, the higher-than-normal temperatures will still place a cap on city gas demand. As a result, LNG plants that reduced the production due to feed gas supply shortage in the early stage will continue to resume their production.
Therefore, OilChem expects that the capacity utilization rates of domestic LNG plants will increase to over 50% in the later stage.
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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