China bought a spot liquefied natural gas cargo from Malaysia last month for $22 per million British thermal units to supply a terminal in Shanghai.
China, the world"s second-biggest energy user, bought a spot liquefied natural gas cargo from Malaysia last month for $22 per million British thermal units to supply a terminal in Shanghai. Spot LNG imports from Malaysia reached 8,580 metric tons in November and cost $9.84 million, data from the Chinese customs showed today. The Wuhaogou Terminal in the nation"s commercial center of Shanghai received a 19,000 cubic-meter spot LNG cargo from Malaysia on Nov. 16, Yan Weiping, general manager of China LNG Shipping (Holdings) Ltd., said Nov. 28. The terminal has three tanks with a combined storage capacity of 120,000 cubic meters, owner Shanghai Gas Group Corp. said.
Petroliam Nasional Bhd., Malaysia"s state oil company, will supply 34,000 tons of LNG to Wuhaogou terminal this year, Shanghai Gas said in January.
China aims to almost double gas use to 5.3 percent of the total energy consumption by 2010.
China National Offshore Oil Corp., the nation"s largest offshore oil producer, has started operating the Dapeng terminal in the southern manufacturing hub of Guangdong. Two other terminals, in Shanghai and in Fujian province, are slated to begin operations next year. Each terminal has about a 3 million- ton capacity.
An LNG cargo weighs between 55,000 and 60,000 tons. LNG is natural gas chilled to liquid form, reducing it one-six- hundredth of its original volume at minus 161 degrees Celsius (minus 258 degrees Fahrenheit) for transportation by ships to destinations not connected by pipeline.