Home | Join | Login | Help | Chinese | GCP | Forum
 
Logistics Zone
Members
Resources
My Jctrans
Welcome jctrans.net!
Resources
   
Focus | News | Exhibition | Policies & Law | Industry Research | Tools Online
Home > Jctrans.net > News > Trade
 
 
PetroChina: Cities set to follow Beijing in raising natural gas prices
POSTED: 10:06 a.m. EDT, April 5,2007

Chinese cities, including Shanghai, will follow Beijing's move to raise household natural gas prices to move them closer to those of oil, and there are likely to be more increases, officials from PetroChina Co, said on Wednesday.

Beijing lifted household gas price by 0.15 yuan to 2.05 yuan (27 U.S. cents) per cubic meter over the weekend. This will translate into households paying an additional monthly fee of some 2.7 yuan each, local media estimated.

Even so, domestic gas prices are only 30 percent of those for oil for producing the same amount of heat, according to Li Jingming, a vice president of the exploration research institute at PetroChina, China's largest oil and gas producer.

"So China must increase domestic prices to catch up with the world level," Li said. "Otherwise, lower prices will cause wastes and affect imports."

Gas accounts for about 2.5 percent of China's primary energy consumption, against the global average of 23 percent, Li said. China has to import some gas to meet its demand for the cleaner burning fuel.

He said China is studying building pipelines to import cheap gas from countries like Myanmar.

Bai Lanjun, an economist at PetroChina's gas research unit, said he has learnt from the company headquarters and the National Development and Reform Commission that the gas prices will also rise in other cities soon.

"Concerning inflation and low-incomers, the rise in gas prices will happen several times rather than being a one-off move," Bai said.

Shanghai and other cities have yet to announce how much gas prices will rise. But the local price authority has held a hearing last year on creating a flexible pricing mechanism for natural gas.

The trend is that domestic gas prices will move towards global level and follow oil rates, Liu said.

From:shanghaidaily
Trade>>
Print | Save


RELATED
PetroChina's new oilfield may have reserves of 2.2 bln barrels (2007-3-28 11:27:00)
PetroChina's newly found oilfield may have reserves of 2.2 billion barrels (2007-3-28 10:51:00)
PetroChina to dispose of stake (2007-3-21 8:00:00)
PetroChina Abandons Project with American Plastic Producer (2007-3-18 13:32:00)
Five Asian countries top global salary increase list (2007-2-8 14:32:00)
New rule on foreigners buying houses (2007-2-8 13:28:00)
Olympics builds roads, needs trucks (2007-1-30 10:36:00)
Cathay gets more access to Chinese destinations (2007-1-30 9:48:00)
Beijing Airport prepares for the Games (2007-1-29 10:03:00)
Binhai New Area to be further upgraded (2007-1-29 9:45:00)
Polar Air Cargo starts service to Beijing (2007-1-16 10:59:00)
Oil, natural gas prices fall on mild weather (2006-12-27 9:36:00)

Today's Top News
 
Weekly Roundup

Freight Forwarder Korea
Forwarder in Japan
 
 
Tools Online
Cargo Tracking
Chinese Port Charge List
World Port
Country Code
Shipping Dictionary
Unite Conversion
                More>>
 
 
 
 
Home - Shipping - Airfreight - Integration - Member - Resources - My Jctrans - Links
About Us - Help - Contact Us
嶄猟利
Privacy Policy - Terms of Use
Copyright Notice 2000-2007 Jctrans.com Corporation and its licensors. All rights reserved.