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China's state-owned CNOOC is storing an LNG cargo on a tanker off South Korea because a warmer-than-usual winter has reduced expected spot demand. The cargo was loaded in Indonesia in November and has been held since then.
Chinese buyers had secured supply early after last winter's shortage.
Mild weather and high inventories weaken spot LNG demand in Asia, which pressures LNG prices. Offshore storage by a major buyer adds to the supply overhang.
gasprocessingnews.comJan 16, 2019After 104 past bearish weather events, NATGAS moved a median -7.8% over 5 sessions (22% higher; middle half -14.8% to -0.8%), and -3.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
