Company Report

CNPC-PetroChina LNG corporate summary

Get this report


You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.

- FAQ's about online orders
- Find out more about subscriptions

12 April 2018

CNPC-PetroChina LNG corporate summary

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.    

Table of contents

  • Executive summary
    • Corporate structure
    • Key figures
    • SWOT analysis
    • CNPC-PetroChina is the leading gas company in China
      • CNPC and PetroChina upstream presence and gas infrastructure 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
  • LNG shipping
  • LNG regas access
    • CNPC-PetroChina LNG related interests
    • PetroChina LNG Contracts
    • PetroChina has relied heavily on Qatar for LNG, is moving to diversify import sources
    • Has appetite for long-term supply returned?
    • Expensive legacy LNG contracts are an issue for CNPC/PetroChina
    • Opportunity for price renegotiations in an oversupplied market
  • Supply-demand balances
    • Detailed corporate structure

Tables and charts

This report includes 20 images and tables including:

  • CNPC-PetroChina LNG supply-demand forecast*
  • Contracted LNG by seller
  • PetroChina LNG imports vs market share
  • PetroChina’s LNG Terminals Regasification Capacity (mmtpa)
  • PetroChina LNG WACOG
  • Average cost of supply by seller (2018 to 2027)
  • CNPC-PetroChina firm gas supply
  • CNPC-PetroChina non-firm gas supply
  • Company profile: Table 1
  • Company profile: Table 2
  • PetroChina monthly LNG imports in 2017
  • PetroChina gas supply cost curve 2018
  • LNG supply: Image 1
  • CNPC-PetroChina LNG related equity interests
  • CNPC-PetroChina LNG supply contracts
  • Appendix: Image 1
  • Role in China: Image 1
  • China historical annual gas production (bcm)
  • 2017 PetroChina gas supply mix
  • Role in China: Table 1

What's included

This report contains:

  • Document

    CNPC-PetroChina LNG corporate.xlsx

    XLSX 255.41 KB

  • Document

    CNPC-PetroChina LNG corporate summary

    PDF 1.61 MB

  • Document

    CNPC-PetroChina LNG corporate summary

    ZIP 1.79 MB

Trusted by leading organisations