CHINA resumed buying individual liquefied natural gas (LNG) cargoes after a five-month halt as prices of the fuel decline, an official said yesterday.

Guangdong Dapeng LNG Co., the nation’s only importer of the fuel, bought a Nigerian cargo for April delivery and another one from Egypt for May, said the official, who asked not to be identified.

China, which imports LNG under a 25-year contract with Australia, is seeking individual cargo imports after halting such purchases since November when prices climbed during winter.

“Gas prices are falling as the weather gets warmer and demand falls,’’ Kevin Zhuang, an analyst with the Guangdong Oil & Gas Association, said. “To boost profit, Dapeng is possibly wholesaling the fuel to regasification stations instead of selling to local power plants and residents directly.’’

The US$900 million LNG import terminal supplies power producers and residents in Guangdong.

Dapeng might double purchases of individual LNG cargoes this year as demand rises, president Thomas King said March 12. The terminal bought seven spot cargoes in 2007.

Dapeng paid US$9.25 per million British thermal units for a spot cargo from Algeria in October, a record for China.

The Guangdong Provincial Government allowed Dapeng to increase the selling price of the fuel to local power plants by about 33 percent to 4 yuan (57 U.S. cents) a cubic meter in the second and third quarter.  (SD-Agencies)