• 4 minutes Why Trump Is Right to Re-Open the Economy
  • 7 minutes Did Trump start the oil price war?
  • 11 minutes Covid-19 logarithmic growth
  • 15 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 18 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 1 hour America’s Corona Tsar, Andrew Fauci, Concedes Covid-19 May Be Just a Bad Flu With a Fatality Rate of 0.1%
  • 45 mins Saudi Arabia Can't Endure $30 Oil For Long
  • 18 mins Russia's Rosneft Oil Company announces termination of its activity in Venezuela
  • 3 hours TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 30 mins KSA taking Missiles from ?
  • 6 hours Oxford Epidemiologist: Here’s Why That Covid-19 Doomsday Model Is Likely Way Off
  • 3 mins Where's the storage?
  • 58 mins Western Canadian Select selling for $6.48 bbl. Enbridge charges between $7 to $9 bbl to ship to the GOM refineries.
  • 2 hours China extracts record amount of natural gas from Gas Hydrates in South China Sea
  • 3 hours Wait till America opens their Q1 401k Investment Statements and see they have lost 35% of their retirement savings. They can blame the Authoritarian Chinese Communist Party..
  • 5 hours There are 4 major mfg of hydroxychloroquine in the world. China, Germany, India and Israel. Germany and India are hoarding production and blocked exports to the United States. China not shipping any , don't know their policy.
  • 7 hours Hillary Clinton tweeted a sick Covid joke just to attack Trump
Ross McCracken

Ross McCracken

Ross is an energy analyst, writer and consultant who was previously the Managing Editor of Platts Energy Economist

More Info

A Crisis Looms Over U.S. LNG

Cameron LNG

Trade talks between the US and China are expected to resume in October, but US LNG producers can already count the cost of earlier failed negotiations, which resulted in the imposition of 25% tariffs on their LNG exports to China. The number of US LNG cargoes heading to China so far this year has plummeted from levels in 2018.

Even for producers not facing tariffs, China’s LNG demand is not showing the dynamism of the last two years. China’s LNG boom in Winter 2017 reflected a lack of policy coordination between coal-to-gas switching on the one hand and the country’s domestic gas supply capabilities on the other. Two years later and China enters the 2019/2020 gas year better prepared.

In addition, the trade dispute has compounded the already evident slowdown in Chinese GDP growth. Chinese LNG demand is still expected to rise by more than 10% this year, but this is a far cry from the near 44% growth seen in 2017 and 39% in 2018.

Strong but not stellar demand growth now appears the order of the day. China’s LNG imports are expected to rise to 80 million tons per annum (mtpa) by 2025 up from around 54 million tons in 2018, according to forecasts made by the China National Petroleum Corporation.

Start-up at the end of the year or in early 2020 of the 38 Bcm/yr (3.7 Bcf/d, 27.8 mtpa) Power of Siberia pipeline will bring more Russian gas into China’s north, although flows will take time to ramp up and are not expected to reach…




Oilprice - The No. 1 Source for Oil & Energy News