Greater China

Jovo buys LNG from Qatar

Doha: Emblematic of Beijing’s push to widen up the LNG supply chain to private players, Qatargas has sold its first liquefied natural gas (LNG) cargo to Jovo LNG Storage and Transportation Company, a Chinese independent LNG importer.

The 64,000 cu m was sold on a free-on-board basis and loaded on to the vessel LNG Lerici at Ras Laffan Port last week.
The cargo will be delivered to Jovo’s LNG terminal located in Lisha Island, Dongguan in the Guangdong province.

This represents the first deal of its kind concluded by Qatargas with an independent and privately owned LNG importer in China where until now Qatargas has only supplied LNG to Chinese state-owned national oil and gas companies.

The recent development in the Chinese market to promote cleaner fuels has encouraged and supported the growth of smaller LNG players like Jovo, which enjoys its niche market in the Guangdong province by providing its customers with LNG delivered by a fleet of trucks, as well as with LPG, methanol and DME.

Jovo chief executive officer Zhang Jianguo said, “After more than two years of hard negotiations and friendly communications, vigorous support from China’s National and Guangdong Provincial Energy Administration has created a new prospect for Chinese Private Enterprise to import LNG. The first LNG cargo from Qatargas is an achievement and it is also an important milestone for Jovo.”  [27/10/14]

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