LNG will grow once U.S.-China trade tensions resolve, Cnooc VP says

|About: CNOOC Limited (CEO)|By:, SA News Editor

Liquefied natural gas will become a big part of China-U.S. trade once tensions are resolved between the countries, a senior Cnooc (NYSE:CEO) VP Li Hui says at the LNG2019 conference in Shanghai.

China already is the world’s second largest LNG buyer after Japan, and Li believes LNG will continue to dominate China’s natural gas imports, which already accounted for 60% of its gas imports last year.

China’s LNG imports could double from current levels to reach 110B cm by 2025, driven by a stringent environmental policy and an accelerated restructuring of the country’s energy mix, a China National Petroleum (NYSE:PTR) exec tells the conference.

Sinopec (NYSE:SNP) reportedly is ready to sign a 20-year LNG supply deal with Cheniere Energy (NYSEMKT:LNG) once the two countries end their trade dispute.

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