21 February 2020

Shaanxi acts after PetroChina halts gas supply, paper says

Shaanxi province has intervened to get PetroChina Co. Ltd. (00857.HK, 601857.CN) to resume supply to several liquefied natural gas (LNG) processing plants, National Business Daily reported Sunday, citing an unnamed source. Petro China halted supply to nine distributor after they protested against increased gas prices. One such distributor, Luyuanzhizhou LNG, said it was forced to accept a price of 2.48 yuan (US 40 cents) per cubic meter after PetroChina halted its daily supply of one million cubic meters. PetroChina defended its pricing, saying this is decided by buyers and sellers based on prices set by the government, the report said.

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