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
14 April 2026
The GECF has warned it may revise its projections for demand this year downwards in light of conflict in the Middle East, although it maintains its forecasts for 2027 and onwards
13 April 2026
Petroleum Economist analysis highlights sharp shift from crude oversupply to market deficit, with Iraq and Kuwait badly affected and key producers Saudi Arabia and the UAE also seeing output sharply lower
13 April 2026
Turkmenistan is moving ahead with a modest expansion of the giant Galkynysh field to sustain gas deliveries abroad, but persistent delays to other key pipeline projects and geopolitical risks continue to constrain its export ambitions
13 April 2026
Expensive electricity has forced out swathes of energy-intensive industry and now threatens the country’s ability to attract future investment in datacentres and the digital economy
