China May Boost Spot LNG Purchases This Year, JPMorgan Says
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China will boost spot purchases of liquefied natural gas this year as the country’s terminal capacity increases and term contracts start in 2012, said JPMorgan Chase & Co.
The nation’s fuel-import capacity will climb to 43.3 million metric tons a year by 2015 while long-term supply contracts climb to 39 million, the bank’s Hong Kong-based analysts, Brynjar Eirik Bustnes and Sophie Tan, said in a report yesterday. Existing capacity will reach at least 12.3 million tons this year compared with imports of 9.4 million through Guangdong, Fujian and Shanghai terminals last year.