CNOOC Buys LNG Cargoes As Demand Rebounds

China’s offshore oil and gas major CNOOC Ltd 0883.HK has bought more than 10 liquefied natural gas (LNG) cargoes for delivery between July and next March, reports Nasdaq.

China’s economy rebound

The state-owned firm’s purchase is on the back of higher spot LNG prices LNG-AS, which have doubled since early March, as China’s gas demand grows with rebounding economic growth.

CNOOC bought 12 to 15 cargoes, which is higher than the 10 cargoes it initially sought for the period, two of the sources said.


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