China’s Russian deal ‘a wake-up call’ for LNG sector
The deal for a second gas pipeline supply could have consequences for the Asian LNG sector
A second gas pipeline supply deal between China and Russia would put a huge dent in the potential Asian market for liquefied natural gas (LNG) with some analysts warning there could be dire repercussions for project developers across the globe.The $400bn Power of Siberia pipeline gas supply deal, signed in May 2014, envisages sending 38bn cubic metres (cm) per year (or 27m tonnes per year in LNG volume) from eastern Russia to China. A memorandum of understanding was signed for the second gas pipeline – the West Siberia or Altai link – was signed in November 2014, and its conversion into a binding agreement is being pursued. “China’s national oil companies should reconsider LNG deals
Also in this section
10 May 2024
The US’ contentious LNG permitting pause has prompted criticism from CEOs and wildly differing interpretations from politicians
9 May 2024
Pipeline boosts Canada’s oil industry by widening its export options, making it less reliant on US market and bringing Asia into the mix
8 May 2024
Despite Australia’s first import terminal nearing completion, the prospect of additional regasification projects is far from certain