Sinopec handles 14% more LNG in Q1
Chinese state-run Sinopec’s operating LNG volumes in the three months to March 31 (Q1) totalled 2.5mn metric tons (mt), up 13.7% year/year, it said on April 6.
Sinopec operates three LNG import terminals in Tianjin, Qingdao and Beihai. The Tianjin terminal near Beijing has received and processed 18.5mn mt of LNG since it became operational three years ago, accounting for 10.3% of overall Chinese imports, the company said late last month.
China's gas usage has recovered from lows near the start of the year, as the Covid-19 outbreak has been contained to a large extent. During the January-February period, the total LNG imports were 14.04mn mt, up 27.2% yr/yr, according to the latest government data.