The Insider’s weekly run-down of critical figures and happenings from around the energy world.
76.2%. Year-on-year increase in Chinese LNG imports during January. With shipments into the country totaling 2.65 million tonnes during the month.
The big jump comes as overall Chinese natural gas demand is surging. China’s apparent demand in January grew 15.3% to 16.89 billion cubic meters, according to calculations from Platts.
The country’s growing appetite for natgas is increasingly being met by imports—with domestic production currently running at just 10.99 billion cubic meters, or 65% of overall demand. Total imports for January were up 48%, met by a combination of LNG and pipeline imports from Central Asia and Myanmar.
585,000 b/d. Amount of heavy crude oil from Canada that could be headed to the major U.S. hub at Cushing, Texas, according to analysis this week from RBN Energy.
Market specialists at RBN note that oil from Cushing (where widely-followed benchmark West Texas Intermediate crude is priced) is increasingly being drained out to refining centers on the Gulf Coast.
However, these supplies may be replaced with oil from a new source—Canadian oil fields, which will be connected to Cushing via the Enbridge Flanagan South pipeline expansion.
RBN expects the majority of this supply to be heavy crude. Which could give a boost to price differentials for producers of this lower-value product. And…