Last week, China’s LNG comprehensive import CIF index was 152.44 points

Last week, China's LNG comprehensive import CIF index was 152.44 points

According to the China LNG Comprehensive Import CIF Index jointly released by the Global Trade Monitoring and Analysis Center of the General Administration of Customs and the Shanghai Petroleum and Natural Gas Trading Center (hereinafter referred to as the Trading Center) on February 23, from February 14 to February 20, China LNG comprehensive The CIF import price index was 152.44 (CIF, excluding taxes and processing fees), up 22.95% month-on-month and 56.16% year-on-year.

U.S. natural gas prices fluctuated upwards last week. On the supply side, total natural gas production in the 48 contiguous U.S. states stabilized at 95 billion cubic feet per day. On the demand side, as the temperature gradually rises, gas-fired power generation and residential gas consumption continue to decline. Only the U.S. LNG export facilities continue to operate at a high level, and the recent U.S. LNG export volume has stabilized at 13 billion cubic feet per day. Inventory data also bears witness to signs of a gradual easing of supply and demand. Relatively lagging data from the U.S. Energy Information Administration (EIA) on Thursday showed a smaller inventory draw of 190 billion cubic feet, in line with market expectations. In addition, the recent rise in oil prices and regional conflicts have also contributed to the rise in gas prices. As of Tuesday, the main contract settled at $4.461 per million British thermal units.

According to the CIF price of China’s imported spot LNG released by the Exchange, the spot CIF price for April was US$25.794 per million British thermal this Tuesday, still at a record high for the same period. The R&D Department of the Trading Center Index believes that thanks to the large number of medium and long-term LNG purchase and sales agreements signed by importers including the three major oil companies and a large number of relatively low-priced imported pipeline gas, my country’s high-priced spot LNG imports account for a small proportion, so my country’s high-priced spot LNG imports accounted for a small proportion. Less affected.

Judging from the LNG comprehensive import CIF price index, China’s LNG comprehensive import CIF price index was 152.44 last week, which is a relatively low level recently. The main reason is that the recently landed and cleared cargo volume is small, and the price index fluctuates violently. However, due to the trade pricing cycle, the current pricing cycle of the spot part of the CIF index is mainly at the end of last year, and the spot price during this time period is high. The China and Long-term Association, which accounts for a larger volume of imports, is linked to the international crude oil price that has also gone out of a bull market in the past year. Influenced by the rise of both spot and long-term associations, the LNG comprehensive import CIF index is expected to remain high in the recent stage.