China National Petroleum Corporation's natural gas prices for domestic and industrial use froze up in November, while the electricity industry rose 4%

PetroChina's domestic and industrial natural gas prices froze up in November.

Taiwan's China National Petroleum Corporation announced today that in order to cooperate with the government's policy of stabilizing domestic prices and reducing industrial cost burdens, natural gas prices for people's livelihood and industrial users will not be adjusted in November. For electric power users, the price will be increased by 4% to appropriately reflect the rising gas source costs.

Taiwan's China National Petroleum Corporation said today that conflicts in the Middle East have intensified and merchant ships were frequently attacked in the waters around the Strait of Hormuz in October, which has hindered LNG supply. In addition, the demand for gas preparation in the Eurasian winter has increased, and international LNG prices have risen, resulting in an increase in the cost of imported gas sources. Calculated based on the natural gas price formula approved by the government, natural gas prices for all types of users should be increased.

However, in order to cooperate with the government's policy of stabilizing domestic prices, natural gas prices for people's livelihood users will not be adjusted in November 2015, and will be absorbed by Taiwan Petroleum Corporation to take care of household, commercial and service industry users across Taiwan, reduce people's livelihood burdens and maintain price stability.

In terms of industrial users, the cumulative amount absorbed by Taiwan Petroleum Corporation from January to September 2015 exceeded 15 billion yuan. After comprehensive consideration of domestic prices and the overall economic situation, and in order to reduce the cost burden of the industry, the natural gas price for industrial users will not be adjusted in November, and the unadjusted portion will continue to be absorbed by Taiwan Petroleum Corporation. For electric power users, in order to appropriately reflect the rising gas source costs, the price of natural gas for electric power users increased by 4% in November.