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)