PetroChina buys more spot LNG cargoes for January 2013 delivery

08 November 2012 06:40  [Source: ICIS news]

SINGAPORE (ICIS--State-owned oil and gas major PetroChina has been looking to purchase liquefied natural gas (LNG) cargoes in the international spot market for delivery to China in January next year, international traders said on Thursday.

PetroChina has shown robust demand for spot LNG cargoes to be delivered to its receiving terminals in east and northeast China, a source from China National Offshore Oil Corp (CNOOC) said.

Demand for gas used in heating utilities in the east and northeast regions has risen in line with falling temperatures during the winter season, the CNOOC source added.

In comparison, CNOOC, which is China’s largest LNG importer, has not purchased any December or January spot cargoes. The importer’s LNG terminals are largely located in southern regions, where gas demand for heating purposes is not strong, the source said.

PetroChina is also in negotiation with its contract suppliers for extra spot supplies for delivery in January 2013, the source added.

China has resumed its spot LNG imports, with PetroChina purchasing cargoes in the international spot market for December delivery to its Rudong terminal in Jiangsu province. 

By: Ricki Wang
+65 6780 4359

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