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Markets & Forecasts

PetroChina flags LNG trading ambitions in Pakistan tender

PetroChina’s involvement shows how Chinese gas companies are expanding their roles as LNG traders by engaging in transactions in Asia PetroChina’s involvement shows how Chinese gas companies are expanding their roles as LNG traders by engaging in transactions in Asia.
By Colin Shek 9 September 2019 Asia Pacific / LNG 0 34561
An LNG tanker at night. (Inpex)

PetroChina submitted the lowest bid to supply one of 10 spot cargoes that Pakistan LNG is seeking for delivery from October to December, data released on Friday shows. The NOC’s involvement demonstrates that China’s state-owned importers are broadening their involvement in LNG trading, engaging in transactions in Asia.

PetroChina Singapore International, a unit of China’s state-owned oil and gas major, offered to supply a cargo priced at 9.89% of the Brent crude price for end-November delivery, according to an evaluation report released by...