MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI BRIEF: PBOC To Watch CNY Moves Closely - Vice Governor Zhu

MNI BRIEF: China Aims To Digitalise 70% Of Firms By 2025

MNI BRIEF: Q1 Cross Border Activity Up 117.8% - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

MNI: EUROZONE FEB CONSTRUCTION OUTPUT +1.8% M/M, -0.4% Y/Y

Q1 Industry Survey Suggests H1 Growth Tailwind

Indonesian Sov Curve Flattens, Barclays See BI Cutting Next Week

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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CNOOC Purchase 10 LNG Cargoes for Delivery Jun23 to Jun24

LNG

China’s CNOOC has purchased approximately 10 LNG cargoes on a Delivered Ex-Ship (DES) basis for delivery from June 2023 to June 2024 according to Bloomberg sources.

  • The cargoes were purchased in a tender closing on 13 Feb at a 0.15$/mmbtu to 0.2$/mmbtu premium to JKM.
  • China is still in discussions with suppliers for additional LNG cargoes for the same delivery period.
  • CNOOC were reported to be looking for cargoes for delivery to China but with an option to deliver to other North Asian ports.
  • China has been ramping up efforts to secure long-term LNG offtake agreements in the past months. Chinese demand is expected to pick up this year as the country reopens following covid restrictions and as it attempts to cut carbon emissions.
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