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CNOOC floated LNG cargo resold

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LNG Industry,

Reuters is reporting that the China National Offshore Oil Corporation (CNOOC) has resold an LNG cargo which has been floated offshore South Korea since late 2018.

The 150 000 m3 LNG cargo has been redirected to Tokyo from its holding location in South Korea’s Okpo anchorage. Details of the buyer are not yet available.

Experts are highlighting this as a significant transaction, since Chinese LNG buyers rarely resell cargoes during the winter season. This demonstrates the extent of China’s new reduced LNG appetite.

LNG Industry’s original post regarding the initial flotation of this cargo can be found here.

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