Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Saudi Arabia and Russia pull OPEC+ in different directions
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
Iraq seeks alternatives to Iranian gas
The country is facing energy shortfalls this summer amid reduced Iranian gas imports and difficulties leasing an FSRU
OPEC+ still showing restraint
Petroleum Economist analysis shows OPEC bringing back some barrels in May, but fewer than expected, while OPEC+ continues to see output fall
Cheap gas key to unlocking new markets
Weaning poorer regions off coal means gas needs to be abundant and competitive longer term
Do not underplay China’s long-term gas growth narrative
A subdued market amid global trade tensions is just an aberration in gas’ upward trajectory
Is a Russia-Iran gas deal on the horizon?
Russia has ample spare gas, and Iran needs it, but sanctions and pricing pose steep hurdles.
Europe’s hard choices on gas security
EU half measures over storage regulation, geopolitical risks to ending Russian gas, power outage questions and China’s LNG resale leverage make for a challenging path ahead.
China’s critical gas position
China will play a huge role in driving gas demand, with its Qatar partnership crucial to this growth amid global structural challenges
US AI to power gas growth
Datacentres to drive demand for gas and position the fuel as more than just a bridging solution
OPEC++, the sequel, has arrived
It is time to acknowledge that the US-Saudi Arabia nexus is driving a fundamental shift in OPEC strategy
Petrochina has squeezed city gas distributors further by raising prices for contractual volumes
Opinion
China Gas Markets
Shi Weijun
Shanghai
10 May 2023
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Letter from China: Price controls squeeze gas suppliers

Incomplete price reforms pose problems for both upstream and downstream players and threaten further shortages

Ten years after they began, unfinished reforms to gas pricing in China have pitched the country’s state-controlled upstream producers against downstream city gas suppliers, within a complicated system that is slow to reflect changes in international prices. Chinese utilities such as China Gas Holdings, Kunlun Energy and ENN Energy buy most of the gas they sell from NOCs Petrochina, Sinopec and Cnooc. Towards the end of every March, the NOCs and utilities sign sales contracts that cover supply for the next 12 months, including the summer and winter peak demand seasons, when consumption spikes for cooling and heating purposes respectively. Petrochina has suffered multibillion-dollar loss

Also in this section
Trump creates new risk dynamic
13 June 2025
US policies may have lasting effects in sectors such as energy, that rely on predictable rules and long-term planning
Saudi Arabia and Russia pull OPEC+ in different directions
13 June 2025
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
Energy NL upbeat on Newfoundland despite industry doubts
13 June 2025
CEO argues the upstream potential remains huge as analysts question future oil production for Canadian province’s offshore industry
Iraq seeks alternatives to Iranian gas
13 June 2025
The country is facing energy shortfalls this summer amid reduced Iranian gas imports and difficulties leasing an FSRU

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search