CR Gas Receives First Cargo as PipeChina’s Carrier
China Resources Gas Group, or CR Gas, received its first LNG cargo at Guangdong’s PipeChina Diefu LNG receiving terminal via PipeChina’s carrier system and terminal window, and started regas and pipeline delivery to its subcompanies at 1 mcm/d on the first day of delivery. The delivery is expected to further expand to CR’s 30 subcompanies across the nation.
In 2020, the government continued to intensify its efforts in environmental governance in a bid to promote natural gas as a clean energy source to replace coal in key areas for civil, heating, and industrial usage. With the reform of China’s natural gas market being further facilitated, the Group seized opportunities arising from the reform of China’s natural gas market, and accurately grasped international and domestic LNG price trends. In November, the Group won the window period for receiving terminals for the first time, and carried out the first independent procurement of 64,000 tons international LNG, which effectively alleviated the operating pressure brought along by the rising LNG market price during the heating season.
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