Cedigaz News Reports


China's Sinopec seeks 25 LNG cargoes on DES basis for Oct 2023 to end-2024 – trade.

China's Sinopec has issued a tender seeking a total of 25 cargoes of liquefied natural gas on a delivered ex-ship basis between October and the end of 2024, according to two trading sources with knowledge of the matter.

The state-owned Chinese gas giant asked for one cargo for October delivery, five shipments for November and seven for December, as well as one cargo per month throughout 2024, the sources said.

The sources also added that Sinopec is seeking the cargoes indexed to the Japan-Korea-Marker benchmark for LNG, except for the first cargo to be delivered in October.

The tender closes Sept. 15.

China's LNG imports hit nearly 79 million metric tons in 2021, overtaking Japan as the world's top importer that year. But stringent COVID measures curbed spot demand last year, and shipments slipped to 63 million tonnes, according to customs data.

An economic slowdown this year continues to limit its spot LNG appetite. China has imported 39 million metric tons of LNG in the first seven months of 2023. (September 12, 2023)