The companies have entered into a long-term Sale and Purchase Agreement for the supply of 1 million tpy of LNG to China over a 15-year period.
The agreement covers the supply of 1 million tpy of LNG to China over a 10-year period starting in 2024.
Rystad Energy’s Senior Gas Markets Analyst, Kaushal Ramesh, discusses gas market price levels, global demand, as well as the uncertainty caused by the new Omicron variant.
The companies have signed a binding 20-year LNG sale and purchase agreement, where Foran has agreed to purchase LNG from Cheniere Marketing.
The company states that China is likely to witness total LNG regasification capacity additions of 5956 billion ft3 by 2025.
According to the company, China is expected to contribute 36% of total LNG regasification capacity additions in Asia between 2021 and 2025.
According to GlobalData, China is set to commence the operations of 70 midstream oil and gas projects from 2021 to 2025.