MILAN, Sept 3 (Reuters) - China National Offshore Oil Corp (CNOOC) launched its first-ever tender to sell two liquefied natural gas (LNG) cargoes from Australia's Queensland Curtis export plant for loading in late October and November, trade sources said.
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.
CNOOC, which has a 50 percent stake in the BG Group-operated export facility's first production plant, is offering to sell one cargo around Oct. 20 on a free-on-board basis and a second around Nov. 20 on a delivered basis, sources said.