More Chinese firms enter global LNG market
Niche buyers in China are starting to make waves in the global LNG market, spurred by reforms that have opened up the country’s vast pipeline network
Novatek, Russia’s top LNG producer, has signed a 15-year sales and purchase agreement (SPA) to supply China’s state-owned Shenergy Group with more than 3mn t/yr from the Arctic LNG 2 project. The SPA is Shenergy’s second in the past six months after the company—which has a monopoly on supplying gas and power in China’s financial hub of Shanghai—inked a 15-year deal with the UK’s Centrica for 0.5mn t/yr starting in 2024. The latest deal continues a trend that began last year in which smaller players—mostly city gas distributors backed by local authorities—have risen to prominence in China’s LNG supply deals. Provincial players such as Shenergy signed more LNG deals with international companie
Also in this section
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind