LNG

The United States and China have extended a bilateral trade truce – the so-called Busan Agreement – until January 10. The accord reduces the risk of renewed tariff escalation between the world’s two largest economies, but does not include a commitment that China will buy US LNG.

Chinese President Xi Jinping will fly to Washington for a state visit on 24 September in a bid to stabilise a relationship strained by tariffs and technology controls. LNG markets eagerly await whether Xi will agree to remove the 15% tariff on US LNG imports to China, which currently renders such imports uneconomic.

China’s state-owned oil and gas company CNOOC sees potential for an energy cooperation with the US, and would consider investing alongside US partners in future projects, a senior executive said, as signs of a thaw in trade relations emerge.

The United States has launched what it calls an “economic D‑Day” against Iran, with Treasury Secretary Scott Bessent extending sanctions against nearly 60 Iran-linked entities and vessels, raising stakes for oil and LNG trade flows through the Strait of Hormuz.

The collapse of US-Canada trade negotiations, followed by new US tariffs of up to 50% on a range of Canadian imports, could raise construction costs and make new Canadian LNG export projects harder to finance.

CNOOC's Binhai regasification terminal in Jiangsu has resumed commercial LNG reloads and received its 100th LNG carrier, underscoring its role in the Chinese gas trading market.

The Alaska LNG project has emerged as South Korea’s likely first U.S. investment under a $200 billion trade deal, with Seoul signalling a possible announcement in late August or early September.

Energy Aspects has pushed back its Qatari LNG ramp-up forecast by a further two weeks, now expecting a partial recovery from mid-August. Q3-26 loadings are seen at 5.4 million tons, down from 6.1 Mt previously, as markets price in elevated risk from prolonged Hormuz disruptions, though TTF is still unlikely to exceed €70/MWh over the balance of summer.

Trading and reselling Russian LNG will be forbidden for EU-based companies starting from 2027 – regardless if the Russian LNG is destined for the European Union or not, EU Energy Commissioner Dan Jorgensen specified.

Canada’s Prime Minister Mike Carney is pushing to advance a free trade agreement with India that would open a strategic outlet for LNG, agri-food and technology exports. The move reflects Canada’s effort to fast-track Pacific‑facing LNG infrastructure and lock in long-term offtake.