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Sinopec's Unipec will keep reselling term LNG cargoes this year -president

 

 

BEIJING
Petroleumworld 05 18 2017

China's Unipec, trading arm of state oil major Sinopec, resold more than 2 million tonnes of term cargoes of liquefied natural gas (LNG) last year and expects to sell more this year, president Chen Bo said on Wednesday.

Chinese oil majors, including Sinopec, have been forced to resell term LNG or renegotiate deals due to strong competition from cheaper and abundant spot supplies.

Chen was speaking to Reuters on the sidelines of a gas industry conference in Beijing.


Reporting by Chen Aizhu; Writing by Josephine Mason; Editing by Tom Hogue from Reuters.

reuters.com May 17, 2017

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