CFE to Lift Eight LNG Cargoes

Mexican state-owned utility CFE has bought eight cargoes of liquefied natural gas (LNG), four traders said.

Swiss trading house Trafigura was awarded the bulk of the volume, selling seven cargoes, while oil major BP sold the remaining cargo, two traders said.

CFE had originally tendered to buy 13 cargoes.

One of the traders said CFE bought less volume because it was cautious about the LNG demand outlook for the second half of the year due to uncertainty over how pipeline connections with the U.S. gas market would perform.

The cargoes were sold at 10 to 30 cents above the Platts Japan/Korea Marker (JKM), a trader said.

Reporting by Sarah McFarlane and Oleg Vukmanovic