China’s energy giants return to Asian LNG market as sellers
FILE PHOTO: Logos of China National Offshore Oil Corporation (CNOOC) are displayed at a news conference on the company’s interim results in Hong Kong, China March 23, 2017. REUTERS/Bobby Yip/File Photo
“We expect LNG demand to continue to grow in China this year,” Royal Dutch Shell’s Steve Hill said on Friday, citing the government’s commitment to cutting back on coal.
Oleg Vukmanovic, Jessica Jaganathan: 9 MARCH 2018
LONDON/SINGAPORE (Reuters) – Falling industrial demand and mild weather have turned China’s energy giants into sellers of liquefied natural gas (LNG) in Asia for the first time since last year’s massive import spree. Chinese players were on the receiving end of last year’s doubling of LNG prices, largely driven by their rapid shift to gas to combat coal smog as well as elevated regional demand for the fuel. FULL ARTICLE
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