CNPC-PetroChina LNG corporate summary Report

Company Report 12 April 2018

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Report summary

CNPC-PetroChina is China's largest gas supplier, supplying 66% of domestic demand in 2017, with a responsibility to ensure security of gas supply. Its LNG imports are focused in Northern China, the fastest demand growth region due to coal to gas switching policies. CNPC/PetroChina requires additional LNG as demand is expected to continue to grow strongly in north China. While we expect spot procurement to continue, CNPC/PetroChina is clearly also now ready to sign new long-term contracts. It moved to sign the Cheniere contract in January 2018. This was the first contract signed in over 4 years since agreeing to take Yamal volumes. We expect additional deals will be done to close its uncontracted position.

Corporate structure
Key figures
SWOT analysis
CNPC-PetroChina is the leading gas company in China
PetroChina's growing market share benefits from coal-to-gas switching in the north
PetroChina faces competitive pressures
Seasonal gas demand mean PetroChina requires spot LNG in winter
Alternative supply sources may limit future winter LNG opportunity
International LNG trading strategy is at an early stage
CNPC-PetroChina LNG related interests
PetroChina LNG Contracts
PetroChina has relied heavily on Qatar for LNG, is moving to diversify import sources
4 more item(s)...