China Set to Boost US LNG Imports before 2025

Wednesday, 10 November 2021

China’s Sinopec and its subsidiary Unipec have signed two long-term LNG import agreements with US LNG developer Venture Global amounting to 7.5mtpa. The two deals emerged whilst US-China trade relations have yet to fully recover, a sharp rise in US LNG exports to China following the US Presidential election at the end of 2020 notwithstanding. Still, having ascended as the world’s largest LNG buyer this year, China is beginning to struggle to find sufficient free supply to prevent acute power shortages this winter.

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