Company Report
CNPC-PetroChina LNG corporate summary
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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.
Table of contents
- 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
- 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
- Detailed corporate structure
Tables and charts
This report includes 16 images and tables including:
- CNPC and PetroChina upstream presence and gas infrastructure in China
- China historical annual gas production (bcm)
- 2017 PetroChina gas supply mix
- PetroChina LNG imports vs market share
- PetroChina monthly LNG imports in 2017
- PetroChina gas supply cost curve 2018
- PetroChina’s LNG Terminals Regasification Capacity (mmtpa)
- CNPC-PetroChina LNG related equity interests
- CNPC-PetroChina LNG supply contracts
- PetroChina LNG WACOG
- Average cost of supply by seller (2018 to 2027)
- CNPC-PetroChina firm gas supply
- CNPC-PetroChina non-firm gas supply
What's included
This report contains:
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