Platts: China's Sinopec Awaits Approval to Sell LNG from Australia's APLNG

Chinese state-owned Sinopec is waiting for management approval to sell volumes from its long-term contract with Australia Pacific LNG, informed sources said this week.

"[Sinopec] has to get approval for LNG diversions from senior management," one of the sources said, adding that the final decision will depend on the company's downstream demand projection.

The Beijing-headquartered buyer had been previously heard offering up to 4 million mt/year from its 7.6 million mt/year long-term contract with the ConocoPhillips-operated LNG facility to other Asia-Pacific buyers and portfolio sellers, including BP.

A source close to the company had also told Platts that Sinopec was considering trading APLNG volumes on a spot basis starting from 2016. MORE