MNI China Daily Summary: Wednesday, July 10

MNI BRIEF: China To Investigate EU Trade Actions

MNI BRIEF: China June CPI Hits Three Month Low

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

MNI: US MBA: MARKET COMPOSITE -0.2% SA THRU JUL 05 WK

US MBA: REFIS -2% SA; PURCH INDEX +1% SA THRU JULY 5 WK

Indeed Wages Tick Higher, But Future Revisions Are Likely

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Vitol Sign Ten Year Gas Deal With EOG

LNG

Vitol has signed a long term deal to buy natural gas from producer EOG Resources mostly indexed to Brent crude prices.

  • The agreement for 10 years starting in 2027 is for the supply of 180,000mmbtu of natural gas or about 1.25m tonnes of LNG from EOG to Vitol.
  • EOG will supply 140,000mmbtu/d indexed to Brent crude and the remaining volumes indexed to Brent or a US Gulf Coast gas index.
  • “Vitol has a long history of serving LNG customers world-wide and this transaction underscores Vitol’s ability to provide innovative gas and LNG solutions to North American gas producers looking to access global markets,” said Ben Marshall at Vitol.
  • Vitol has been expanding its position in global gas markets with multiple recent LNG deals with companies such as Chesapeake Energy, Cheniere Energy and GAIL and as global LNG demand is experiencing “significant growth”.
Energy BulletsCommodities
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