China puts on American LNG

6

Due to the sharp rise in gas prices in Asia, as well as against the backdrop of a shortage of electricity in the domestic market, China is interested in supplying fuel from the United States. Major energy firms in the PRC, including Sinopec Corp and China National Offshore Oil Company, are actively negotiating with US LNG exporters on long-term contracts to transport liquefied gas from facilities in the US.

The lack of electricity in China is evidenced, in particular, by the fact that in September about two dozen provinces and other regions of the PRC introduced restrictions on electricity consumption due to a shortage of coal and a load on the country's energy capacity. According to the Polish resource Biznes Alert, Chinese business contacts with American partners could lead to the conclusion of deals worth tens of billions of dollars, which means a sharp increase in LNG imports to China from the United States.



Negotiations with suppliers from the United States have gained momentum in recent months amid one of the biggest gas crises in decades. China, by concluding agreements with the American side, plans to diversify its order portfolio, which until now has been based mainly on crude oil prices. For US purchases, LPF prices will be based on data from the Henry Hub, a Louisiana-based gas hub.

New long-term contracts for the purchase of LNG can be signed before the end of the year. On October 11, China's ENN Natural Gas was the first to sign a 13-year gas supply contract with Texas-based Cheniere Energy. The agreement will enter into force in July 2022.
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  1. gorenina91
    gorenina91
    -5
    15 October 2021 17: 45
    The lack of electricity in China is evidenced, in particular, by the fact that in September about two dozen provinces and other regions of the PRC introduced restrictions on electricity consumption due to a shortage of coal and a load on the country's energy capacity. According to the Polish resource Biznes Alert, Chinese business contacts with American partners could lead to the conclusion of deals worth tens of billions of dollars, which means a sharp increase in LNG imports to China from the United States.

    Negotiations with suppliers from the United States have gained momentum in recent months amid one of the biggest gas crises in decades. China, by concluding agreements with the American side, plans to diversify its order portfolio, which until now has been based mainly on crude oil prices. For US purchases, LPF prices will be based on data from the Henry Hub, a Louisiana-based gas hub.

    New long-term contracts for the purchase of LNG can be signed before the end of the year. On October 11, China's ENN Natural Gas was the first to sign a 13-year gas supply contract with Texas-based Cheniere Energy. The agreement will enter into force in July 2022.

    - Well ... - you can just ... "be touched" ...
    - And then you just hear constantly: "Russia and China., Russia and China., Russia and China ..." ...
    1. Tourist
      Tourist
      +3
      15 October 2021 20: 32
      in Russia, some stories are told about China by the bulk of the media. well, except for individual profile channels. in reality, for example, China has long and strictly adhered to American anti-Russian sanctions.
  2. Vladest
    Vladest
    -1
    15 October 2021 20: 36
    China has also announced that it will no longer build coal-fired power plants. In Russia, it would be necessary to start scratching itself, when coal is supplied from Kuzbass too. Although, now, during a period of instability, it is possible to disrupt a lot of currency. But this is temporary.
  3. zenion
    zenion
    0
    15 October 2021 21: 11
    There was such a guy Volodya. He loved to tell stories. At the end of each story, he always said - he lied so sensibly that he even believed it himself.
  4. EMMM
    EMMM
    0
    17 October 2021 01: 29
    The most incomprehensible thing in this information is how coal stations will be fueled with natural gas, which requires regeneration stations, which do not exist.
    Option: we suspend all life processes for five years. Alternative: against the background of growing electricity production in China, it is profitable for someone to escalate the situation around Russia.
  5. NikolayN
    NikolayN
    0
    17 October 2021 08: 54
    Well, that is not to Europe, but to China. Not bad. Divided.