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Lower prices see buying of LNG
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China resumed buying individual liquefied natural gas cargoes after a five-month halt as prices of the fuel decline, a Chinese official said.

Guangdong Dapeng LNG Co, the nation's only importer of the fuel, bought a Nigerian cargo for April delivery and another one from Egypt for May, said the official who asked not to be identified because the agreements are confidential.

China, which imports LNG under a 25-year contract with Australia, is seeking individual cargo imports after halting such purchases since November when prices climbed during winter, an official said in February. Prices of spot cargoes have declined to about US$14 per million British thermal units from US$20 in winter because of warmer weather, UK-based industry consultant Andy Flower said.

(Shanghai Daily March 26, 2008)

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