TradeWinds News: Poten: CNOOC pushes for force majeure on LNG cargoes

7 February 2020

China National Offshore Oil Corp (CNOOC) has sent notices asking suppliers to accept force majeure on up to half of its cargoes set to arrive this month, and potentially more down the line, according to a report from Poten & Partners.

Meanwhile, Poten said suppliers have pushed back, arguing high storage levels and the spread between spot prices and term volumes were not valid reasons for the declarations.

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