LNG

Operators in the LNG business are assessing the possible impact of the US Defense Department’s blacklisting of China National Offshore Oil Corp., the nation’s largest LNG importer, to its list of alleged “Communist Chinese military companies”, causing CNOOC shares to drop and further raising US-China trade tensions.

China National Offshore Oil Corp., the holder of the nation’s largest capacity for LNG imports, plans to increase storage at its Binhai import terminal under construction in the eastern Jiangsu province and will reserve two tanks to help with the imported gas needs for a province in Central China.