LNG macro analysis, page-571

Thought this was interesting / ironic, as they, ( China ) are talking of placing Tariffs on US LNG on one hand, while planning on Boosting the use of LNG on the other, as


Chinese Ministry of Transport issued a call to the relevant authorities and Chinese companies to pitch in opinions on its plan to boost the use of liquefied natural gas as marine fuel.

In its notice, the ministry is seeking comments on the plan to be submitted by August 20.

Under the plan, the ministry aims to have the standard specification for LNG as fuel in marine transport ready by 2020, with the bunkering network to be formed and built. By 2025, the ministry aims to have a comprehensive system for application of LNG as marine fuel, as well as a fully functional LNG transportation system along its inland waterways.

It also aims to fully build out the LNG bunkering network adjusting the national energy structure as well as water transportation structure.

The ministry adds that the proportion of LNG as fuel has significantly increased, reaching 15 percent in newly-built vessels. In China the use of LNG as a marine fuel in the inland waters of the Yangtze river delta, Pearl river delta, Yangtze river trunk line, Xijiang shipping trunk line and Beijing-Hangzhou Canal is at 10 percent.

The proportion of LNG used in new and key areas such as Beijing-Tianjin-Hebei and the surrounding areas, such as the Yangtze river delta, is close to 50 percent.

The ministry’s notice unveils plans to advance the development of LNG bunkering stations and inland LNG terminals in the specific sites of the Bohai area.

The plan also includes the promotion of LNG use as fuel for port vehicles and vessels in key ports.

www.lngworldnews.com/china-plans-to-boost-use-of-lng-as-marine-fuel/


South Korea’s Kogas, the world’s second-largest corporate buyer of LNG, reported a 10.5 percent increase in its domestic gas sales in July.

According to the Kogas’ monthly sales report, the July natural gas sales volumes reached 2.36 million tonnes of LNG equivalent, compared to 2.13 million tonnes of LNG in the corresponding month last year.

Sales in the power generation sector rose 8 percent to 1.37 million tonnes while city gas sales reached 0.98 million tonnes, up by 14.2 percent on year, Kogas said.

Kogas operates in total 72 LNG storage tanks in South Korea. It imports about 96 percent of Korea’s LNG demand via its four terminals, namely Incheon, Pyeongtaek, Tongyeong and Samcheok.

www.lngworldnews.com/south-koreas-kogas-boosts-july-sales/