By February 21, 2017 0 Comments Read More →

Papua New Guinea LNG export plant seeks to sell 6 cargos in tender-trade

Papua New Guinea LNG

Customers for Exxon’s Papua New Guinea LNG facility include Tokyo Electric Power, Osaka Gas, Taiwan’s CPC and Sinopec. 

Papua New Guinea LNG sale sign demand weak

MILAN, Feb 21 (Reuters) – Exxon Mobil’s Papua New Guinea LNG export facility is seeking to sell six cargoes in a tender, trade sources said.

Cargoes are for delivery between May and October, traders said, adding that they expected the tender to attract high levels of interest.

“It’s also a bearish sign that PNG is trying to sell so many … it suggests expected demand from the plant’s long-term customers in Japan, Taiwan and others is weak,” one source said.

Customers at the 6.9 million tonnes a year plant are Tokyo Electric Power Company, Osaka Gas, Taiwan’s CPC and China’s Sinopec.

(Reporting by Oleg Vukmanovic; Editing by Greg Mahlich)

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