LNG sales to China boom
http://www.chron.com/business/energy/article/LNG-sales-to-China-boom-12457009.php December 27, 2017
China's imports of liquefied natural gas from the U.S. jumped last month as the country snatched up a record volume of the fuel to meet surging demand for heating and industrial use.
Shipments from the U.S. totaled 407,325 metric tons in November, up from nothing the same month a year earlier and 57 percent from October, placing one of the world's newest LNG sellers as the third-biggest supplier to China, behind stalwarts Australia and Qatar.
"U.S. exports are ramping rapidly up, while China is the fastest growing importer," said Kerry Anne Shanks, a Singapore-based analyst at Wood Mackenzie Ltd. "LNG trade between the two countries will continue to grow."
The world's largest energy user is struggling with a winter natural gas shortage after demand surged this year amid President Xi Jinping's fight against smog, which has focused on cutting the use of coal in favor of the cleaner-burning fuel. China's rising need has helped push spot LNG prices to $10.90 per million British thermal units, the highest in three years, according to industry publication World Gas Intelligence.
Increasing U.S. oil and gas supplies to China has been a goal for President Donald Trump's administration, with energy dominating the $250 billion in deals unveiled between the countries during his visit to Beijing last month. Those included agreements between Cheniere Energy Inc. and China National Petroleum Corp., as well as China Petrochemical Corp., known as Sinopec Group, and Alaska Gasline Development Corp. Neither of those were binding commitments, and Chinese LNG buyers have not yet inked any long-term purchasing or investment deals with U.S. exporters....
