China’s Guangdong Energy buys two LNG spot cargoes

China's Guangdong Energy buys two LNG spot cargoes
Illustration purposes only (Image courtesy of Guangdong Dapeng LNG)

China’s Guangdong Energy Group has reportedly purchased a couple of spot cargoes of liquefied natural gas for delivery to CNOOC’s Dapeng LNG facility in which it has a stake. 

Citing trading sources, Reuters reports one of the two cargoes has already been delivered in the previous week with the second cargo scheduled for July delivery.

Cargoes have reportedly been purchased from the Malaysian energy giant Petronas.

An unnamed executive at the Chinese utility told Reuters that the company will have the right to import a total of five LNG cargoes in 2019, to secure sufficient supplies.

The cargoes have been purchased on a delivered ex-ship basis, with prices at $4.30 per million British thermal units (mmBtu), for the first cargo and $5.2 per mmBtu for the second cargo.

 

LNG World News Staff

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