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LNG: China/U.S. Tariffs to Have Limited Near-term Impact

LNG
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China’s 15% tariff on US LNG is likely to have limited near-term impact, Bloomberg reports.

  • Chinese buyers of US LNG have already been offloading their cargoes to other markets, like Europe, where prices are more attractive.
  • The tariff may push more Chinese buyers holding long-term contracts with US projects to resell their shipments.
  • More US LNG could remain in the Atlantic while demand for LNG from other exporters could increase, adding a marginal inefficiency to trade flows.
  • Chinese LNG imports fell by 18% y/y in January, amidst continuing signs of weakness in domestic gas consumption, according to IEA analyst Greg Molnár.
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China’s 15% tariff on US LNG is likely to have limited near-term impact, Bloomberg reports.

  • Chinese buyers of US LNG have already been offloading their cargoes to other markets, like Europe, where prices are more attractive.
  • The tariff may push more Chinese buyers holding long-term contracts with US projects to resell their shipments.
  • More US LNG could remain in the Atlantic while demand for LNG from other exporters could increase, adding a marginal inefficiency to trade flows.
  • Chinese LNG imports fell by 18% y/y in January, amidst continuing signs of weakness in domestic gas consumption, according to IEA analyst Greg Molnár.