Sinopec's Tianjin LNG terminal
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
11 August 2025
The administration is pushing for deregulation and streamline permitting for natural gas, while tightening requirements and stripping away subsidies from renewables
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
