Chinese firms have recently inked major US LNG supply deals
China embraces US LNG
Rising imports and fresh supply deals signal China’s growing interest in US supplies of the fuel
Chinese LNG importers have warmed to US cargoes this year, embracing the relative price stability of the Henry Hub in contrast with the wild gyrations of the Asian spot market, industry executives and researchers say. China imported 7.04mn t of US LNG between January and October, making the US the country’s second-largest source after Australia and equivalent to 11pc of imports for period, according to Chinese customs data. This compares with imports of 3.21mn t from the US last year and just 267,692t in 2019. “Our clients have gradually realised that US long-term contracts are more stable in terms of pricing,” says Maggie Jia, chief China officer at US LNG exporter Cheniere Energy’s Beijing
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