According to the “Announcement of the Customs Tariff Commission of the State Council on Imposing Additional Tariffs on Imported Products Originating in the United States of About 16 Billion Dollars”, China imposed an additional 25% on about 16 billion US dollars of goods from the United States The tariff was officially implemented at 12:01 on the 23rd. The list involves a variety of chemicals, including: purified terephthalic acid, crude benzene, crude toluene, propylene, gaseous natural gas, etc.
Natural gas is the main raw material for the production of MDI. According to the statistics of Tiantian Chemical Network, the domestic production capacity of carbon monoxide, hydrogen, methanol, etc. used in the production process of MDI with natural gas as raw material accounts for 45.3% of the total production capacity of domestic MDI equipment. Then, will the tariff increase on natural gas have a great impact on domestic natural gas supply, and will it have an indirect impact on MDI?
According to statistics, in 2017, the total amount of oil and gas imported by China from the United States was about 6.254 billion U.S. dollars, of which 1.53 million tons (2.1 billion cubic meters) of liquefied natural gas were imported, and the amount was about 644 million U.S. dollars. my country’s LNG imports from the United States only account for about 4% of my country’s LNG imports. Therefore, the imposition of tariffs on US LNG will not significantly affect the domestic natural gas supply.
Although the imposition of tariffs on US LNG will not significantly affect the domestic natural gas supply, is the domestic LNG market really peaceful?
Our country’s energy conditions of rich coal, lack of oil, and little gas indicate that domestic natural gas supply conditions are limited; however, under the requirements of low-carbon, environmental protection and other policies, natural gas consumption continues to grow. As a result, natural gas imports continue to increase. It is understood that in the first half of this year, my country’s natural gas imports have grown rapidly. According to statistics from the General Administration of Customs of China, from January to June, my country’s cumulative natural gas imports were 42.077 million tons, an increase of 35.4% over the same period last year.
In order to ensure sufficient supply of natural gas, the executive meeting of the State Council held on the 22nd determined measures to deepen reform and promote the coordinated and stable development of natural gas.
The first is to build a diversified supply system that expands domestic production and stabilizes international cooperation, strengthens the construction and interconnection of facilities such as pipeline networks, gas storage depots, and receiving stations to ensure the balance between supply and demand and achieve orderly utilization.
The second is to increase domestic exploration and development efforts, innovate mechanisms to encourage the participation of various investment entities, and support the transfer of mining rights in a market-oriented manner.
The third is to improve the natural gas peak shaving, emergency and security mechanisms. Make a plan to ensure the supply of natural gas this winter and next spring, and give priority to increasing the amount of new gas to ensure the lives of urban residents and replace coal for heating in winter in areas with severe air pollution. Before the implementation of “coal-to-gas”, a contract must be signed to confirm the gas source, and the “gas-based reform” must be adhered to. Use differentiated price policies to promote peak-shaving and valley-filling.
It is believed that with the completion of the east line project of the China-Russia natural gas pipeline, China will form a channel to supply natural gas to my country from the northwest, southwest and northeast from Central Asia, China-Myanmar and China-Russia; Liquefied natural gas will also grow significantly. The formation of these four channels will promote the diversification of my country’s natural gas imports, and the growth of domestic production will also become an important support for natural gas supply. At the same time, Tiantian Chemical Network will also pay close attention to the implementation process of these projects.
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