China’s LNG imports rose 3.47% year on year in November to 1.8 million mt, the highest level since July, General Administration of Customs data for the month showed. The November imports were up 13.5% from October. The rise is in line with the onset of the peak winter season in the north of the country, when gas use traditionally increases with heating demand. The bulk of deliveries appeared to have originated from term suppliers, particularly Qatar and Australia, as term prices ranging $5-$10/MMBtu remained attractive when compared to spot values, which averaged $6.70/MMBtu. However, the most expensive cargo was provided by Russia’s Sakhalin at $12.50/MMBtu, marking the second delivery in as many months from the facility and only the third for the year so far. The cargo arrived at the CNOOC-operated Shanghai LNG terminal aboard the Sun Arrows, according to cFlow, Platts trade flow software. The country has no […]