According to Reuters, China’s Zhenhua Oil has purchased its first LNG cargo from Chevron Corp.
The cargo totalled 100 million m3 and was purchased at US$0.30 per million Btu discount to Japan Korea Marker (JKM) quotes on a delivered basis. Chevron’s Gorgon project, located in Australia, supplied the cargo which has since been delivered to CNOOC’s Yuedong terminal in Shenzhen, China.
Zhenhua and its partner Longkou paid US$26.5 million for access to the CNOOC facility in a recent auction.
This transaction forms part of the wider trend of China seeking to broaden its LNG import market.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/01112018/zhenhua-purchases-lng-cargo-from-chevron/