Beijing orders regions to ‘regulate’ gas market as prices soar

The eight regions include top natural gas producing regions Shaanxi, Inner Mongolia, Xinjiang, Sichuan and major gas consuming regions such as Hebei, Jiangsu, Liaoning and Beijing, a government official said (File)

China’s state planner has ordered eight regions to meet with natural gas producers, liquefied natural gas (LNG) terminal operators and traders on Monday to “regulate” the market as prices of the clean fuel soar due to winter heating demand, a government official said.

The meetings should warn the market participants that the government will punish any companies found to be involved in manipulating prices or monopolising the market, the official at the National Development and Reform Commission (NDRC) said. He declined to be named because he is not authorised to speak to the media.

The eight regions include top natural gas producing regions Shaanxi, Inner Mongolia, Xinjiang, Sichuan and major gas consuming regions such as Hebei, Jiangsu, Liaoning and Beijing, he said. The NDRC was not immediately available for comment.