China embraces US LNG
Rising imports and fresh supply deals signal China’s growing interest in US supplies of the fuel
Chinese LNG importers have warmed to US cargoes this year, embracing the relative price stability of the Henry Hub in contrast with the wild gyrations of the Asian spot market, industry executives and researchers say. China imported 7.04mn t of US LNG between January and October, making the US the country’s second-largest source after Australia and equivalent to 11pc of imports for period, according to Chinese customs data. This compares with imports of 3.21mn t from the US last year and just 267,692t in 2019. “Our clients have gradually realised that US long-term contracts are more stable in terms of pricing,” says Maggie Jia, chief China officer at US LNG exporter Cheniere Energy’s Beijing
Also in this section
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them