Guangdong Port LNG imports in 5 months up 27.4 pct
Saturday, 27 Jun 2009
INTERFAX-CHINA reported that Guangdong Port in southern China imported 1.40 million tonnes of liquefied natural gas in the first five months of 2009 up by 27.4% YoY from the same period last year,
Mr Deng Ziyi a gas analyst with Guangdong Oil and Gas Net told Interfax that growth of LNG imports is primarily attributable to this year's falling gas prices which has given local consumers, especially power plants, the incentive to consume more spot shipments than they did last year.
According to Shanghai Securities News, the average price of the imported LNG between January and May was USD 174.7 per tonne down by 31.9% YoY.
Meanwhile, the average LNG import price in May was USD 270.70 per tonne a drop of USD 15.60 from May 2008.
Guangdong imports LNG primarily from Australia, which supplied the province with 1.16 million tonnes over the first five months.
