06 August 2012 07:54 [Source: ICIS news]
SINGAPORE (ICIS)--China National Offshore Oil Corp (CNOOC) is seeking international buyers for a few term liquefied natural gas (LNG) cargoes scheduled for ?xml:namespace>
CNOOC usually obtains contract LNG from international suppliers and sells those cargoes in Chinese domestic markets.
However, due to sluggish demand in the domestic market, CNOOC’s LNG terminals in
The company is likely to deliver two cargoes to overseas buyers, said a Singapore-based trader.
A source from CNOOC’s Shanghai Yangshan terminal said that the terminal’s inventories have exceeded normal levels because of the lacklustre demand as a result of mild temperatures this summer.
CNOOC’s Dapeng terminal in
LNG sales are dampened by weak demand from local power plants and increasing competition from piped gas, they added.
“Whether CNOOC could find the buyers is still hard to tell, as demand in
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