China's LNG price jumped by 11.1% from ten days ago to 4321.7 yuan/t ($633.5/t) over July 11-20, showed data from the National Bureau of Statistics (NBS) on July 24.
During the same period, the price of LPG stood at 4484.2 yuan/t, increasing 3.7% from early July, the data showed.
Domestic natural gas consumption surges these days under the promotion of ''coal-to-gas'' development amid stricter environmental protection policies, yet the limited internal natural gas supply could not match with the rocketing demand.
In the first six months of this year, China's natural gas supply reached 134.8 billion cubic meters, increasing 16% on the year, the fastest growth in natural gas consumption during the past five years. Meanwhile, the domestic natural gas output totaled 77.5 billion cubic meters over January-June, edging up 4% from the previous year, reflecting a heavy reliance on import natural gas.
In order to shore up internal natural gas supplies alongside the spot price hike for LNG, boosted by the international crude oil price increase, effective measures will be taken to reinforce the infrastructure construction of production, storage and supply for natural gas.
Sources:sxcoal
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