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China pushes natural gas price reforms

The country has announced a price rise as part of wider reforms to bring the sector in line with the international market

China has announced its second major natural gas price increase in as many years as the country moves ahead on reforms to bring domestic natural gas prices into line with international market prices. The National Development and Reform Commission (NDRC), China’s powerful economic planning regulator, said that starting 1 September wholesale prices for non-residential users will rise by 20.5%, around 0.4 yuan ($0.06) per cubic metre (cm). The price rise will only apply to existing supplies. The move will bring prices up to 2.35 yuan/cm, equivalent to around $10.81 per 1,000 cubic feet. That is more than double US natural gas prices but still significantly lower than liquefied natural gas (LNG)

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