PNG LNG Offers to Sell Four Cargoes

ExxonMobil’s PNG LNG export terminal is offering to sell four cargoes loading in August to long-term buyers as well as Asian end-users, Reuters reports.

Completing the plant ahead of schedule enabled rapid export rate which helped lowering global LNG prices as major Japanese buyers are backing out of spot markets.

Tokyo Electric Power, Osaka Gas and Taiwan’s CPC are main long-term buyers, but low demand in Asia may have led Exxon to broaden its offers, the report said.

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LNG World News Staff, June 18, 2014; Image: Oil Search