China locks in record long-term LNG deals to bolster energy security

Nikkei Asia ^

[FarCenter]

TOKYO -- As global competition for liquefied natural gas intensifies in response to the Ukraine war, China is increasingly turning to long-term contracts of a decade or more to ensure the country's growing needs will continue to be met years into the future.

Chinese demand for natural gas grew at the fastest rate on record in 2021. LNG demand jumped 18% to 78.9 million tons, surpassing Japan as the largest importer.

Spot contracts accounted for 39% of China's LNG imports last year. But contracts lasting 10 to 20 years make up a rapidly growing portion of those with delivery dates in 2022 and beyond.

Chinese players signed 23 long-term contracts for a total of 27 million tons of LNG in 2021, according to Mika Takehara at Japan Oil, Gas and Metals National Corp. Both figures were among the largest on record, she said.

Most LNG was purchased by China's three state-owned energy groups -- China National Petroleum Corp., CNOOC and China Petrochemical, known as Sinopec. But energy companies owned by regional governments and private-sector utilities are also increasingly dealing directly with overseas suppliers.

Three-quarters of the sellers were located in the U.S., Qatar and Russia. Between January 2021 and this April, Chinese companies had signed 10 contracts for 13.9 million tons to 14.8 million tons of LNG from American entities alone.

These deals largely involved emerging producers, including Venture Global LNG and Cheniere Energy, and have propelled certain projects forward that industry insiders did not think was feasible just years ago.

[ConservativeInPA]

Three-quarters of the sellers were located in the U.S., Qatar and Russia.

Since we are unwilling to stop buying chink crap made with CCP support and slave labor, then perhaps we can increase natural gas extraction and LNG production for export. Then tax the hell out of its export to China. That makes the artificially low price of chink crap slightly more expensive, allows American businesses to more effectively compete and the tax revenue can be used to retire the debt we owe the CCP.

[servantboy777]

>>Since we are unwilling to stop buying chink crap made with CCP support and slave labor<<

Right? I’ve just never understood why people keep buying cheap commie crap. Americans are just slitting their own throats.

I’ve heard, “whuh whuh whuh, juss can’t find no merican stuff no more”.

I’ve had a roughly 3 1/2-decade boycott against Chinese goods ever since Walley world decedents or whomever was running the company after Sam Walton’s death, got busted relabeling Chinese goods as, “MADE IN AMERICA”.

I’ll buy from any other country. Just not China.

Fact is, folks CAN purchase American made goods. Just check the labels. It’s not difficult.

Starve the commies!

[rxh4n1]

Fact is, folks CAN purchase American made goods. Just check the labels. It’s not difficult.

Starve the commies!
We can buy shoddy, toxic junk from Malaysia or Vietnam.

[servantboy777]

>>We can buy shoddy, toxic junk from Malaysia or Vietnam.<<
The point is to break the stranglehold communist China has on America. A few years of purchasing goods from other places will help in that effort.

Also, going out to corporation websites and leaving feedback for all to see.

For instance. I noticed a crap load of Western boots manufactured in China at leading Western wear chain stores like Cavenders.

So, I looked at the boots from Justin and Tony Lama...made in CHINA. I went out to Justin and Tony Lama boot facebook site and let’em have it.

It read...Something as iconic as the American Western boot made in China? Are you kidding me? I will NEVER purchase a boot manufactured in China.

Hundreds of “likes” on the Justin / Tony Lama boot site. Didn’t take long for these company’s marketing folks to chime in on Facebook defending the quality of their boots.

Lol...made’em pay attention. If more folks did likewise and stop purchasing Chinese made stuff, manufacturing may just come back onshore.

[dvwjr]

“ Then tax the hell out of its export to China. “

Can not do that, it would be un-constitutional.

dvwjr