China's Unipec to keep reselling term LNG cargoes this year
5/17/2017
BEIJING (Reuters) -- China's Unipec, trading arm of state oil major Sinopec, resold more than 2 MMt of term cargoes of LNG last year and expects to sell more this year, president Chen Bo said on Wednesday.
 |
| Photo Courtesy of Reuters. |
Chinese oil majors, including Sinopec, have been forced to resell term LNG or renegotiate deals due to strong competition from cheaper and abundant spot supplies.
"We were facing strong domestic market pressure ... thus the need to boost global trading of LNG," Chen told Reuters on the sidelines of a gas industry conference in Beijing.
Reporting by Chen Aizhu; Writing by Josephine Mason; Editing by Tom Hogue
Sign up to Receive Our Newsletter
- Gasum powers Equinor's platform supply vessel with bio-LNG
- ADNOC deploys pioneering AI-enabled process optimization technology
- Mexico Pacific announces long-term LNG SPA with POSCO International
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- Golar LNG signs EPC deal for $2.2-B MK II FLNG conversion project
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- Picarro launches handheld solution for natural gas leak investigation and closed-loop leak management
- Fincantieri LNG-powered Star Princess launched in Monfalcone
- Oman plans third LNG train, boosting domestic production to more than 15 MMtpy
- Brazil's fossil push undermines Lula's green ambitions
Comments