Free Trial

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

LNG

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.
147 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

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.