From September 5th to 11th, China LNG comprehensive import to the shore price index is 164.84 points

On September 14, the China LNG comprehensive import to the shore price index jointly released by the Global Trade Monitoring and Analysis Center of the General Administration of Customs and Shanghai Petroleum and Natural Gas Trading Center showed that the price index of China LNG comprehensive import to the shore from September 5th to 11th was 164.84 ( C.I.F, without taxes, processing fees), rose 15.41%month -on -month and rose 24.11%year -on -year.

Last week, the price of natural gas in the United States continued to fluctuate at a high level of shocks. The supply side, the total natural gas output of 48 states in the United States continued to increase slightly, and stabilized the integer bits of 100 billion cubic feet per day. In addition, the number of active natural gas rigs has recently increased by 4 units. The demand side, the amount of gas power for power generation began to decline; the output of the national liquefied natural gas export facilities stabilized at about 11 billion cubic feet per day. In terms of inventory, according to the relatively lagging data released by the US Energy Information Administration (EIA) last Thursday, the increase in weekly inventory is 54 billion cubic feet, which is basically in line with market expectations. The current supply and demand situation is basically in line with market expectations. However, compared with the same period of the past five years, the inventory still decreases by more than 11%. In terms of weather, according to the weather forecast issued by the National Oceanic and Atmospheric Administration (NOAA), the current trend of continued high temperature in most parts of the United States will weaken. The main factors affecting the price of natural gas last week are still European gas prices. Under the comprehensive influence of rising supply, the decline in demand, and the influence of the peripheral market, the price of natural gas in the United States fell significantly last week. As of Tuesday, the settlement price of NYMEX's main natural gas contract was $ 8.284 per million British heat.

In Europe, the price of natural gas continued to fall sharply. The supply side, Beixi 1 line is discontinued indefinitely. At the same time, Norwegian gas fields have more maintenance and tightening supply. The import volume of European LNG continues to be high, but due to the ability to receive, the price difference between the North and South Europe to the shore and the TTF price is still large. However, recently, the floating receiving station (FSRU) rented by the Netherlands, Germany and other countries has successively arrived in Hong Kong, and the supply surface will improve. The demand side, demand continues at a low of the year. Compared with the same period of previous years, the demand has declined by 10.3%, but there is still a gap with the target of the EU's reduction of 15%. In terms of inventory, according to data from the European Natural Gas Infrastructure Information Platform (GIE), the overall inventory of gas storage in Europe has risen to 84.23%, far exceeding the goals set by the European Union, and the fundamentals are relatively abundant. Among them, German inventory has been It reaches 88.5%, and the speed of accumulation is better than expected. Last week, the decline in the price of TTF was mainly affected by electricity prices. As of Tuesday, the settlement price of the TTF main contract was 198.612 euros per MWh (about $ 59.2 per million British heat), a large decline.

In Northeast Asia, due to the high price of spot prices and affected the epidemic in the near future, my country's gas demand is suppressed. According to the data monitoring of the trading center, the recent imports from importing LNG ships to the shore have declined significantly year -on -year. According to the data released by China Natural Gas Information Terminal (E-GAS system), the previous day calendar week, the amount of LNG imported from my country was only about 1.19 million tons, a significant decrease year-on-year. Because European gas prices in the main importing area of ​​LNG have repeatedly hit the high price, the price of LNG in Northeast Asia to the shore still maintains a high level in the same period of previous years. According to the monitoring of the trading center, there are currently fewer transactions in Chinese enterprises in the real goods market. Therefore, the high price at this stage does not represent the overall import cost of the true LNG in our country. And thanks to a large number of medium and long -term liquefied natural gas purchases and sales agreements signed by importers including three major oils, and a large number of relatively low -cost import pipeline gas, my country has a small demand for high -priced spot LNG imports in recent stages. The overall impact of my country's natural gas market is small. As of Tuesday, the price of China imported spot LNG, which was evaluated by the Shanghai Petroleum and Natural Gas Trading Center in October, is $ 38.029 per million British heat.

From the perspective of LNG comprehensive import to the shore price index, last week, China LNG comprehensive import to the shore price index was 164.84 points, which recently fluctuated large, and the price index was higher compared to the same period last year. The main reason is that the most important Chinese and long -term associations that account for most of the imports of imports. The price of international crude oil linked to pricing has gone out of a wave of bull markets in the past year. For small parts of imported spot, due to the pricing cycle, the current pricing cycle of the spot part in the shore price index is mainly in July this year, and the spot price is high due to the high spot price during this time. Under the influence of comprehensive influence, LNG's comprehensive import to the shore price index has recently fluctuated.

China LNG comprehensive import to the shore price index is compiled by the Global Trade Monitoring and Analysis Center of the General Administration of Customs and the Shanghai Petroleum and Natural Gas Trading Center. It was first launched on October 16, 2019. Adjustment is released in the form of an index. The index is based on the first daily calendar of 2018 (the price of China LNG comprehensive imports on the shore in the week is 2853 yuan/ton, and the price index is 100). It comprehensively reflects the import of LNG in my country last week to the shore. Price level. This is a beneficial exploration of my country's natural gas price market -oriented pricing system, which is conducive to cultivating domestic natural gas pricing benchmarks, timely and effective docking in the domestic market and international markets, and further enhance my country's influence in the international oil natural gas market.

Source of this article | Shanghai Petroleum Natural Gas Trading Center

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