LNG: China Agrees Several Long-Term LNG Purchase Deals
May-22 08:35
China signed several long-term LNG deals during the World Gas Conference in Beijing, according to Bloomberg.
- Buyers are seeking term supplies as a cushion against volatility in the spot market.
- On May 21, BP signed a 10-year sale and purchase agreement with Zhejiang Energy International for as much as 1m tons of LNG.
- Guangdong Pearl River Investment signed a 15-year sales and purchase agreement with ConocoPhilips.
- Mecuria Energy Group also agreed to supply LNG to Guangzhou Gas for five years.
- China Communications Construction Company is in talks to procure LNG under a 20-year contract, Bloomberg sources said.
- Also, majors CNPC, CNOOC and Sinopec met with Qatar’s Energy Minister on strengthening existing and future cooperation in the energy sector.
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