INTERNATIONAL
PetroChina selling Yamal LNG cargoes to Europe
According to Reuters, amid low Asian demand, PetroChina is selling spot LNG cargoes from Yamal LNG to Europe.
These shipments demonstrate how Asian energy companies are gaining a growing foothold in European markets, and are expanding their role and influence worldwide as they engage in LNG transactions on a broader scale.
The startup of Yamal LNG’s second and third trains, ahead of schedule, has helped PetroChina boost and stabilise its European trading presence, enabling the company to sell on LNG from its 20% share in the project’s spot volumes on a regular basis.
The cargoes have been largely offered to northwest Europe during this latest winter window, drawing interest from key players such as Vitol, Trafigura, and the UK’s BP.
