Chinese companies are offering to resell liquefied natural gas cargoes in the spot market as they grapple with high inventory amid weak demand due to a slowing economy and a milder than usual winter, several trade sources said on Monday.
The world’s second-largest buyer of LNG is currently facing high inventory of the super-chilled fuel in some areas, several sources familiar with the Chinese market told Reuters.
“It’s quite warm in China and the demand is very bad,” one of the sources with a state-owned company said, declining to be named as he was not authorized to speak with media.
He added that about 5 to 7 LNG cargoes are…
View entirety: Reuters