China's CNOOC Tenders to Sell Third Australian LNG Cargo

China National Offshore Oil Corporation has tendered to sell a liquefied natural gas (LNGLF) (LNG) cargo of Australian origin, trade sources said.

The tender, launched earlier this week, suggests a loading date in late December from the BG Group (BRGXF)-operated Queensland Curtis LNG export plant, one trader said.

CNOOC owns a stake in the plant.

In September, CNOOC launched its first tender to sell two LNG cargoes from the facility.

The decision to offload supply onto the spot market follows an acceleration in LNG oversupply as import demand from China and other Asian countries has fallen far short of forecasts.

(Reporting by Oleg Vukmanovic)