That’s the nature of Asian LNG buyers. When the tanks are full, the tanks are full. Nothing that can be done about that. We call this kind of buyer a flexibility taker – this means that they will require flexibility services from the market. This further means that someone needs to take excess LNG when it’s not needed and/or provides extra cargos when there is a spike. And this someone needs to be able to do so. That costs money. Some say that only someone truly mad would venture there – luckily that’s what we Europeans are. Welcome to your flexibility option on the other side of the world. We will help – in exchange for some pling.
China’s Guangdong Energy received an LNG cargo via separate discharges at the Dapeng and Diefu LNG terminals in Shenzhen Tuesday, as soft LNG demand left limited storage capacity on the terminals, a source with close knowledge of the matter said.