China utility buys first spot LNG cargoes, uses CNOOC import terminal

Guangdong Energy Group emerged as a first-time spot buyer of liquefied natural gas (LNG), as the Chinese utility secured access to a receiving terminal in southern China, a company executive and three trading sources said this week.

The state-run utility bought two cargoes of the super-chilled fuel totalling 120,000 tonnes, both from Malaysian state oil and gas producer Petronas, the sources said.

The utility for the first time exercised a right to use the Guangdong Dapeng LNG terminal in Shenzhen operated by China National Offshore Oil Company, or CNOOC.

Guangdong Energy is a minority investor in the receiving facility that started operation in 2006.

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