LNG

PetroChina, the Chinese-listed and overseas unit of state-owned China National Petroleum Corp. and an LNG project stake holder in Canada and Mozambique, reported annual record profits and revenues due to higher prices for oil and natural gas.

Russia expects to supply more LNG and pipeline natural gas to China in 2023 after energy shipments to the Chinese increased after the February 2022 invasion of Ukraine, including deliveries of Russian crude oil.

China said that pipeline natural gas from Russia would soon start flowing to help meet future energy needs across several areas of the Chinese Northeast, though supplies during 2020 would amount to less than the equivalent output of one standard Train of LNG.