US EditionChina’s Guangdong Pearl River Strikes LNG Deal with ConocoPhillips
- China's Guangdong Pearl River Investment finalized a 15-year agreement to purchase LNG from ConocoPhillips during the World Gas Conference held this week in Beijing.
- The deal follows escalating trade tensions and tariffs on US LNG imports imposed by China, which had halted US LNG shipments previously.
- The contract links supply volumes of 300,000 tonnes per year starting in 2028 to Henry Hub prices, suggesting confidence in restored LNG trade.
- Guangdong Pearl River called the agreement a milestone amid global gas market shifts, with global LNG trade growing 2.4% in 2024 as US exports expanded significantly.
- This agreement implies a possible easing of US-China LNG trade barriers and may signal stabilized long-term LNG pricing and supply relations by 2028.
30 Articles
30 Articles
InsideNoVA.com
Global LNG trade hits new record in 2024, driven by U.S. output and new capacity
(The Center Square) — Global trade in liquefied natural gas continued its upward climb in 2024, growing 2.4% to reach a record 411.2 million tons, according to the International Gas Union's annual report.
ConocoPhillips seals Chinese LNG supply deal
ENB Pub Note: The article below the line is an update from LNGPrime.com, and I added the LNG import information for China’s total market as a story context base. There was little LNG information about China’s total LNG import market. China had halted importing from the U.S., so a contract with ConocoPhillips would be an interesting sign that the tariff war may be settling down, or they are just desperate to get into the long-term LNG stable pric…
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