The latest Reuters shipping data has revealed the impact of the US-China trade dispute on LNG trade between the two countries.
CNOOC is currently holding talks with independent companies regarding access to its LNG import facilities.
Peter Kiernan, Economist Intelligence Unit, Singapore, reviews China’s status, growth and current activities in the LNG industry.
China Petroleum and Chemical Corp. (Sinopec) has plans in place to sign a 20 year LNG agreement with Cheniere Energy.
Sinopec Corp. will resume purchasing US LNG cargoes as soon as it receives orders to from the Chinese government.
According to an annual LNG report by Royal Dutch Shell, global LNG trade will experience an increase of 11% to 354 million t this year.
Asian LNG spot prices have continued to decline, as inconsistent demand is yet to make a dent in the oversupplied state of the market.
Gazprom has announced that Alexey Miller, Chairman of the company’s management committee, has paid a working visit to China.