China’s NOCs to lower annual downstream gas prices to compete with spot LNG
China’s national oil and gas companies — PetroChina, Sinopec and CNOOC — are expected to lower prices for their 2024-2025 pipeline gas sales contracts on the back of ample supply from both domestic production and imports, market participants said, in order to compete with falling spot LNG prices. The prices are being cut amid an ongoing expansion in Chinese downstream… China’s national oil and gas companies — PetroChina, Sinopec and CNOOC — are expected to lower prices for their 2024-2025 pipeline gas sales contracts on the back of ample supply from both domestic production and imports, market participants said, in order to compete with falling spot LNG prices. The prices are being cut amid an ongoing expansion in Chinese downstream… Read More
