A liquefied natural gas tanker at a port of the China National Offshore Oil Corporation in Tianjin, China. Picture: REUTERS/STRINGER
The biggest suppliers of LNG to CNOOC include Anglo-Dutch energy company Royal Dutch Shell, France’s Total, Australia’s Woodside Petroleum and Qatargas, industry sources said. LNG traders said they were scrambling to divert shipments or find new outlets for cargoes destined for China, driving spot prices for LNG in Asia to record lows. “China was the place we sent cargoes to if demand was weak elsewhere in Asia but now people are trying to find alternative locations,” one of the traders said.
It was not immediately clear which of CNOOC’s LNG suppliers had been issued with a force majeure notice.
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