Unipec Singapore, the trading arm of China’s Sinopec, is seeking 11 liquefied natural gas (LNG) cargoes for delivery over November to March into China, two industry sources said.
It is seeking one cargo in November, three in December, three in January, one in February and three in March, one of the sources said, adding that the tender closes on Sept. 24.
Unipec is asking for the cargoes to be priced on a fixed price basis or linked to Dutch TTF or Brent oil prices, the source added.
The company’s requirement comes at a time when LNG prices have spiked to their highest seasonally and look set to break overall records hit during the peak of winter earlier this year.
It is likely buying ahead of winter when demand typically surges for heating, industry sources said.
Gas demand is also expected to go up ahead of the Winter Olympics Games which will be hosted by Beijing in February, 2022, they added.
