皇冠体育app

When Belarus reluctantly agreed to pay a much higher price for Russian gas in the dying minutes of 2006, 皇冠体育app began preparing for a similar rise.

皇冠体育app PetroChemical Corporation (Sinopec Corp) experts said on Friday that the country's increasing dependence on natural gas imported from Russia meant prices would rise in the domestic market.

A Shanghai Securities News report said 皇冠体育app National Petroleum Corporation (CNPC) and Russia had failed to agree on the price for natural gas to be imported from Sakhalin.

皇冠体育app's top oil producer signed a gas import framework agreement in 2006 with Sakhalin Energy Investment (SEI), the company that operates the Sakhalin projects and is a major liquefied natural gas (LNG) exporter.

SEI Vice-President, Marketing, Koert Vonkeman, said at an industrial forum last November that 皇冠体育app would have to pay international market prices for LNG imports sooner or later.

Gas prices have risen to new levels in the global market because of an oil price hike. But natural gas price in 皇冠体育app remains at a low level.

Jointly operated by 皇冠体育app National Offshore Oil Corporation and BP, the country's first LNG project in Guangdong Province would need 3.7 million tons of LNG a year from the Northwest Shelf Australia LNG venture project under a 25-year contract.

Price has become a major obstacle in 皇冠体育app's LNG plans. National Development and Reform Commission statistics show that the current ratio for domestic oil and natural gas prices is 1:0.24, when the global equivalent is 1:0.6.

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