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LNG: US Risks Losing Long-Term on China LNG Trade War: Reuters

LNG
USAPACCommoditiesChinaEnergy BulletsBulletPower BulletsNorth America

The US-China trade war is impacting the former’s gas exporters who may lose their advantage in the growing LNG market, Reuter said.

  • China imposed a 15% tariff on US LNG imports after President Trump announced a 10% tariff on Chinese imports.
  • While this impact on China’s is minimal – only 5.5% of its LNG imports are US origin, it could significantly affect US gas exporters.
  • US LNG supply was expected to double its supply by 2028 to 200m mtpa, with Asia, and China in particular, a key growth market.
  • China committed to buying nearly 20m mtpa under long-term contracts. In the short term, Chinese traders might redirect US LNG to Europe, where gas prices are higher.
  • Europe, already the largest buyer of US LNG, has become increasingly dependent on Washington’s gas.
  • However, this is a temporary solution as long-term European gas demand is expected to decline. 
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The US-China trade war is impacting the former’s gas exporters who may lose their advantage in the growing LNG market, Reuter said.

  • China imposed a 15% tariff on US LNG imports after President Trump announced a 10% tariff on Chinese imports.
  • While this impact on China’s is minimal – only 5.5% of its LNG imports are US origin, it could significantly affect US gas exporters.
  • US LNG supply was expected to double its supply by 2028 to 200m mtpa, with Asia, and China in particular, a key growth market.
  • China committed to buying nearly 20m mtpa under long-term contracts. In the short term, Chinese traders might redirect US LNG to Europe, where gas prices are higher.
  • Europe, already the largest buyer of US LNG, has become increasingly dependent on Washington’s gas.
  • However, this is a temporary solution as long-term European gas demand is expected to decline.