The Tianya Shengbang 1,200,000 m³/day LNG project is entering its final sprint towards completion, with trial production expected in early December. On October 21, the Tianya Shengbang Natural Gas Liquefaction Unit Production and Construction Project in Daying County entered the final pre-completion phase. The project involves constructing a new natural gas liquefaction unit with a capacity of 1,200,000 m³/day, LNG bimetallic full-containment tanks, and associated auxiliary facilities. Once operational, it will have an annual production capacity of 260,000 tons of LNG. Construction began in February this year. Currently, 95% of the construction work on the full-containment tank farm is complete, core equipment installation has been fully finished, and individual structures such as the compressor building and power distribution room are steadily nearing completion. Over 320 workers involved in civil engineering and installation are advancing synchronously across different zones under unified site coordination. The project team has established a daily scheduling and item-by-item clearance mechanism. Completion is expected by mid-November, with trial production commencing in early December. This project will promote the local value-added conversion of natural gas resources, address shortcomings in downstream deep processing within the natural gas industry chain, and support regional energy security and industrial green low-carbon development.
Table 1: Domestic LNG Price Summary (Unit: CNY/ton)
| Market | Oct 26 | Oct 27 | Change | % Change |
|---|---|---|---|---|
| Average Price | 7924 | 7967 | 43 | 0.54% |
| Shandong | 7850 | 7850 | 0 | 0.00% |
| Zhejiang | 8075 | 8150 | 75 | 0.93% |
| Jiangsu | 8200 | 8200 | 0 | 0.00% |
| Hebei | 7858 | 7899 | 41 | 0.52% |
| Chongqing | 7650 | 7650 | 0 | 0.00% |
| Guangdong | 8200 | 8200 | 0 | 0.00% |
| Data Source: Chempricehub Information |
Market Prices: Today, the national LNG delivery price was 7,967 CNY/ton, up 43 CNY/ton from the previous working day. The import resource price was 7,835 CNY/ton, up 226 CNY/ton from the previous working day.
Domestic Resources: Low-priced domestic resources saw catch-up increases, though overall gains remained modest. Factories primarily maintained a balance between production and sales, with extremely low inventory levels resulting in minimal short-term shipment pressure. Due to tight supply recently, most factories adopted a hold-for-higher-price strategy, limiting shipments.
Imported Resources: National LNG receiving terminals continued to raise shipment prices. With domestic supply tightening, attractive arbitrage opportunities for international resale drove terminal resources to remain scarce, leading to a simultaneous tightening of domestic market supply. Market sentiment shifted significantly today; traders' willingness to stockpile weakened, and their selling attitude became more active. Consequently, despite significant increases in receiving terminal shipment prices, transaction price gains in the East China market were relatively small.
Imports: On October 26, LNG receiving terminal truck loading volumes totaled 23,625 tons, a decrease of 2.17% compared to the previous period. Shipments from North China amounted to 3,591 tons, an increase of 0.59%; South China shipments were 6,888 tons, a decrease of 1.20%; and East China shipments were 12,159 tons, a decrease of 2.69%.
Domestic Production: No startups or shutdowns were reported today.
Profitability: Taking Inner Mongolia as an example, the average theoretical profit for sampled factories in the region was 582 CNY/ton, an increase of 20 CNY/ton from the previous working day.
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