Tuesday, November 8, 2016

PetroChina Expands Receiving Capacity At LNG Terminals -- November 8, 2016

As you read this story, remember four things:
  • the US has a lot of natural gas
  • the US is building a lot of LNG export terminals
  • the US allows LNG exports
  • China's appetite for LNG is growing
Data points from Reuters/Rigzone:
  • PetroChina is one of the larger Chinese oil and gas firms
  • PetroChina has three LNG receiving terminals
  • it is adding new storage tanks for LNG at two of those terminals 
  • one of the sites, Rudong: this is part of a second-phase expansion; will bring handling capacity up to 6.5 million tonnes/year; up from 3.5 million tonnes previously
  • at the second site, Dalian: will double its receiving capacity there to 6 million tonnes/year
  • PetroChina is raising its natural gas supply this winter by 7% year-over-year
  • most of that increase is domestically produced; a "moderate" amount will be due to imports

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