Pertamina: 10 LNG Cargoes to Asia Buyers
Indonesia's Pertamina is offering to sell 10 surplus liquefied natural gas (LNG) cargoes to Asian consumers, loading from July to early November, after a recent nine-cargo deal with BP, trade sources said.
Pertamina is offering the cargoes from its Bontang liquefaction plant after its long-term buyers opted to take less supply this year, due to high inventories.
Pertamina has 10 cargoes to offer between now and early November with a couple in July and the rest mainly in September and October, one trader said.
Pertamina has had 20 surplus cargoes to sell since April, when its long-term customers can exercise contractual flexibility to reduce offtake in periods of lower-than-expected demand.
BP picked up nine Bontang cargoes from Pertamina on a free-on-board basis recently, another trader said.
Korea Gas Corp., or Kogas, is a long-term buyer of Bontang LNG, and has been trying to defer or swap out cargoes due to an oversupply of around 30 cargoes this summer.
Reporting by Oleg Vukmanovic