Kogas resorted to swapping a combined 120,000 tonnes from two LNG cargoes with Taiwanese CPC Corp, due to expected oversupply in the off-season.
This deal sees CPC receive two cargoes initially destined to KOGAS from Malaysia’s Petronas LNG. Kogas will later receive the two swapped cargoes during the winter season, reports Reuters.
According to traders in London, Kogas has arranged to swap several summer LNG cargoes with CPC who will return them during the winter as Kogas is oversupplied by around 30 cargoes.
LNG World News Staff, June 17, 2014; Image: KOGAS