China utility buys first spot LNG cargoes, uses CNOOC import terminal
5/30/2019
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.
Reporting by Chen Aizhu; Additional reporting by Jessica Jaganathan; Editing by Tom Hogue
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