Skip to content

China Looks to Sell Spare LNG as Virus Lockdowns Hit Demand

  • Several buyers including Cnooc are offering cargoes for summer
  • Covid-19 worries are intensifying amid mass testing in Beijing
Updated on

China, the world’s biggest importer of liquefied natural gas, is trying to sell some spare supply due to fears that demand-sapping virus lockdowns could spread from Shanghai to other parts of the country.

Major buyers, including Cnooc Ltd., are offering at least five shipments for summer delivery on the spot market amid the deteriorating domestic outlook, according to traders with knowledge of the matter. The companies could look to offload more cargoes if Covid-19 restrictions around China increase, the traders said, requesting anonymity to discuss private details.