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gas shortage in china is good sign for export

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    Report taken from the internet shows what a little bit of cold weather can do to demand for natural gas

    All signs that the industry will continue to expand in Australia, and with this services of companies like Mermaid Marine Australia


    PetroChina Shuts Two Fertilizer Units on Gas Shortage A A A
    By Bloomberg News

    Dec. 23 (Bloomberg) -- PetroChina Co., the countrys largest oil company, shut two fertilizer-making units in Ningxia province because of a natural gas shortage after the heaviest snowfall in six decades.

    The Beijing-based company is losing more than 4.5 million yuan ($660,000) a day because of the closure, parent China National Petroleum Corp. said in its online newsletter today. It didnt say when the units were shut or specify the duration of the stoppage.

    China boosted gas production and imports last month as snowstorms increased demand for heating fuels at a time when government economic stimulus spurred industrial consumption of gas, used to run power, chemical and fertilizer plants. Winter demand this year will exceed supply by more than 1 billion cubic meters, the official Xinhua News Agency said on Nov. 23.

    The stoppage of the fertilizer units has cut PetroChinas daily gas use by 2 million cubic meters, state-controlled China National Petroleum said. Gas consumption has fallen by almost 43 million cubic meters as of Dec. 18, according to the company.

    A $586 billion government stimulus package helped boost Chinas factory output by 19 percent in November from a year earlier, the biggest increase since June 2007.


 
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