China’s Sinopec Floods LNG Spot Market with Cargoes for 2022
- Sinopec’s trading arm offers up to 45 LNG cargoes from Feb.
- Move indicates the world’s biggest importer is well-stocked
A liquefied natural gas vessel at Sinopec's Tianjin terminal in China.
Photographer: VCG/Getty Images
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A top Chinese liquefied natural gas importer is offering to sell dozens of spot cargoes this year, indicating the world’s biggest buyer is well-stocked.
The trading arm of Sinopec issued a sales tender offering up to 45 cargoes for delivery between February and October to ports in North Asia, according to traders with knowledge of the matter. This is the first time the oil major -- traditionally a buyer -- has issued such a large sales tender, the traders added.