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Chinese Importers Seek Five LNG Cargoes for June-Sep: Argus

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Five Chinese importers, mostly second-tier buyers, are each seeking one LNG cargo for June-Sep delivery, according to PipeChina, cited by Argus.

  • The five importers are PipeChina, Chinese independent ENN, Hong Kong-listed city gas firm China Resources Gas, Hong Kong-based Towngas and state-owned China Gas.
  • PipeChina and ENN indicated that the target price is around $9.50/MMBtu for cargo DES into Tianjin. Argus said.
  • Gas China is looking for a price of around $9.30/Mmbtu, while China Resources Gas and Towngas are aiming to buy at around $9/MMBtu, sources told Argus.
  • Chinese importers mostly see spot prices sub $9-$9.5/MMBtu as unobtainable for June-Sep delivery due to strong prompt buying appetite from Southeast Asia.
  • India’s IOC bought a May cargo for $10.60/MMBtu, while Thailand’s PTT purchased three July cargoes via tender for slightly above $10.50/MMBtu.
  • Summer interest has been tepid thus far, but buyers have some unease about potential supply disruptions.
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Five Chinese importers, mostly second-tier buyers, are each seeking one LNG cargo for June-Sep delivery, according to PipeChina, cited by Argus.

  • The five importers are PipeChina, Chinese independent ENN, Hong Kong-listed city gas firm China Resources Gas, Hong Kong-based Towngas and state-owned China Gas.
  • PipeChina and ENN indicated that the target price is around $9.50/MMBtu for cargo DES into Tianjin. Argus said.
  • Gas China is looking for a price of around $9.30/Mmbtu, while China Resources Gas and Towngas are aiming to buy at around $9/MMBtu, sources told Argus.
  • Chinese importers mostly see spot prices sub $9-$9.5/MMBtu as unobtainable for June-Sep delivery due to strong prompt buying appetite from Southeast Asia.
  • India’s IOC bought a May cargo for $10.60/MMBtu, while Thailand’s PTT purchased three July cargoes via tender for slightly above $10.50/MMBtu.
  • Summer interest has been tepid thus far, but buyers have some unease about potential supply disruptions.