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North Asian LNG Buyers Look to Resell LNG Cargoes

LNG

North Asian LNG buyers are looking to resell shipments due to high inventory levels, including buyers from China and Japan, traders told Bloomberg.

  • Chinese importers, including PetroChina, are offering to sell LNG shipments for December delivery, according to traders with knowledge of the matter. That is in addition to five resold cargoes in November, traders added.
  • Some Japanese importers are also offering shipments, partly to optimize portfolios but also due to high LNG inventories, traders said.
  • LNG stockpiles held by Japanese power generators increased by 8.72% week on week to 2.37 million tons as of 5 November, well above the five-year average, according to data released by the trade ministry. This was up from 2.18mn tons the week prior. Volumes are still down by 7.06% from 2022 levels of 2.55mn tons.

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