The import of American liquefied natural gas (LNG) in China has been stopped for more than ten weeks, showing data on ship traffic, which indicates that the trade war between China and the United States has expanded to the energy sector, writes the Financial Times.
The last delivery was recorded 6. February, when a tanker with 69,000 tons of LNG from Corpus Christia in Texas arrived in the southern Chinese Fujian province. Since then, there were no new shipments between the two countries.
Another Tanker is redirected to Bangladesh because he failed to agree to China before introducing a customs from 15 percent to the American LNG, who came into force on 10. February. That customs, in the meantime, increased to 49 percent, which became the financial negligible for Chinese customers.
This suspension is reminiscent of a similar termination of delivery during the first term of the current US President Donald Trump, which lasted for more than a year.
However, the consequences of this stalling could be longer lasting, as they further strengthen energy ties between China and Russia, while at the same time, the justification of large investments in LNG terminals are currently being built in the US and Mexico.
– This will have long-term consequences. I do not believe that Chinese importers of LNG will ever sign new contracts with US suppliers – said Anne-Sophie Corbeau, Gas Expert from the Center for the Global Energy Policy University Columbia.
From the beginning of the Russian invasion of Ukraine, China relatively little imports American LNG. Chinese customers prefer to resale American gas Europe with profit. During the last year, only 6 percent of the Chinese LNG came from the USA, while 2021. That share was 11 percent.
However, Chinese companies such as Petrochina and the Sinopeca signed 13 long-term contracts on the purchase of LNG from American terminals, and some of them are valid until 2049. years, the data of the analytical company Kpler.
These long-term contracts were key to starting large LNG projects in the USA.
At the beginning of this week, the Chinese ambassador in Russia stated that China probably plans to increase the import of Russian LNG.
– I know certainly there are many customers. Many contact us through the embassy asking for help to establish contact with Russian suppliers. I think imports will surely grow – said Zhang Hanhui.
Russia is now the third largest exporter of LNG in China, behind Australia and Qatar. China and Russia also negotiate the new pipeline of Siberia 2.
(Vijesti.ba / Fena)
