China to take delivery of Egyptian LNG in August
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China to take delivery of Egyptian LNG in August UPDATED 30 Jul 2009 | 10:20  
China to take delivery of Egyptian LNG in August

SINGAPORE (Reuters) - China is set to take delivery of Egyptian liquefied natural gas on August 4, according to AISLive ship-tracking data on Reuters, the first batch of Egyptian LNG into the country since July 2008.

"It's heading into a southern Chinese port," said a source familiar with the situation.

The British Innovator is shipping 138,000 cubic metres of super-cooled gas, he added.

The last time China imported LNG from Egypt was in July 2008, taking in 59,544 tonnes, official customs data showed.

LNG demand in the world's second biggest energy user is on the rise, boosting spot prices to around $4 mmBtu from some $3.80 mmBtu last week.

China's power generation increased 5.2 percent in June, the first gain in a non-holiday month since October 2008.

LNG imports into China were pegged at 470,004 tonnes in June, easing from 511,017 tonnes imported in May but higher than the monthly average imports of 340,195 tonnes between January and June.

The country's leading LNG developer, China National Offshore Oil Corporation (CNOOC), has won approval from the National Development and Reform Commission to build its fourth LNG receiving terminal and relevant facilities.

CNOOC started operating its second LNG project in Fujian in May after bringing its first in Guangdong into operation in 2006.


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