China revives push for US LNG as PetroChina pursues long-term deals
China, which had halted purchases of U.S. liquefied natural gas (LNG) since March last year, is moving to secure U.S. LNG again. As the Iran war disrupts global energy shipping and China works to diversify LNG suppliers, Chinese companies, including PetroChina Company Limited, the country’s largest state-owned energy company, are discussing long-term supply contracts with ...
China is rekindling efforts to secure U.S. liquefied natural gas (LNG) after halting purchases in March last year due to the escalating Iran war. As global energy shipping faces disruptions, Chinese enterprises, such as PetroChina Company Limited, are exploring long-term supply contracts with U.S. LNG providers. Venture Global, a U.S. LNG corporation, is reportedly engaged in preliminary talks with at least three Chinese LNG importers, including PetroChina Company Limited, for contracts exceeding 1 million tons per year.
However, specific contract details remain undisclosed. The rise in uncertainty stemming from the U.S.-Iran war has prompted Chinese firms to diversify LNG sources. Notably, China Gas Holdings recently inked a 20-year long-term LNG deal with Venture Global, set to commence in 2030. Moreover, discussions between Chinese and U.S. governments revolve around potentially reducing or eliminating tariffs on U.S. LNG.
Should negotiations between major Chinese LNG importers like PetroChina Company Limited and Venture Global culminate in concrete contracts, it is anticipated that China’s long-term engagement in U.S. LNG will broaden. However, the ongoing 15% tariff on U.S. LNG may influence the expansion of LNG trade between the two nations.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
