Bloomberg cited Mr Zhang Guobao head of the National Energy Administration as saying that China plans to increase its imports of liquefied natural gas to ease a domestic shortage of the fuel.

Mr Zhang was quoted as saying that China’s gas companies should sign more long-term LNG contracts in order to take advantage of a global surplus of the fuel. He said that Chinese oil companies including PetroChina Co. and China Petroleum & Chemical Corp., known as Sinopec, are increasing gas output and imports to ease a supply shortfall caused by a cold snap since last month. China imported about 3.5 million metric tons of LNG last year, or about 6 percent of the nation’s total demand

Mr Zhang said China will start building more LNG terminals this year in places including Zhuhai, in southern Guangdong province, and Shandong province. The country plans to speed up construction of natural gas pipelines and storage facilities on the coast.

China State Shipbuilding Co the nation’s biggest shipyard launched three self-developed models of LNG ships today.

(Sourced from Bloomberg)