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Petronas to auction LNG cargo on Chinese exchange

The Malaysian NOC will become the first foreign firm to sell an LNG cargo on one of China’s two oil and gas exchanges, a landmark that could enable more Chinese companies to access imported LNG The Malaysian NOC will become the first foreign firm to sell an LNG cargo on one of China’s two oil and gas exchanges, a landmark that could enable more Chinese companies to access imported LNG.
By Colin Shek 26 September 2018 0 32681
An LNG terminal in China Sinopec’s Qingdao LNG terminal in Shandong. (Sinopec)

Malaysia’s Petronas will put an LNG cargo up for auction on the Chongqing Petroleum and Gas Exchange (CQPGX) on Friday. The tender will be the first in China by a foreign company and, if successful, could pave the way for more Chinese third parties and independent players to access imported LNG.

Petronas is offering a 150,000-160,000 cubic metre spot cargo from its own export plant, which will amount to 100 million cubic metres after regasification, according to a notice released...