China National Offshore Oil Corporation is trying to resell two of its contracted LNG cargoes as domestic demand weakens and inventories remain high.
Traders said state-run CNOOC Gas & Power is offering the shipments, possibly from Tangguh LNG, on a sell-on or swap basis. The company is blaming cool temperatures and weather conditions for the slowdown in demand but industry players pointed to economic reasons.
Tanks at CNOOC’s Dapeng LNG in Guangdong province and Fujian LNG are said to be full.
India could be a likely buyer for the cargoes, traders said, with LNG demand currently weak in the Far East.
China imported some 19.8
