[[{“value”:”
ENB Pub Note: The article below the line is an update from LNGPrime.com, and I added the LNG import information for China’s total market as a story context base. There was little LNG information about China’s total LNG import market. China had halted importing from the U.S., so a contract with ConocoPhillips would be an interesting sign that the tariff war may be settling down, or they are just desperate to get into the long-term LNG stable pricing arena.
-
Australia: Supplied 34% of China’s LNG imports (approximately 24.2 million tonnes in 2023, based on 2021 data of 31.1 million tonnes constituting 39.48%).
-
Qatar: Provided 23% (around 16.4 million tonnes).
-
Russia: Contributed 11% (about 7.8 million tonnes), with 2024 imports estimated at 4.5 million tonnes for the first half alone.
-
Malaysia: Accounted for 10% (roughly 7.1 million tonnes).
-
United States: Supplied 6% in 2024 (4.16 million tonnes, worth $2.4 billion), down from 1.2 billion cubic feet per day (Bcf/d) in 2021 due to recent trade tensions and tariffs.
-
Indonesia: A significant supplier, though exact 2023 share is unspecified (in 2021, it was among the top five with Australia, Qatar, Malaysia, and the US).
-
China’s LNG imports are projected to grow, with 2024 estimates at 77 million tonnes and new import terminals adding 47 million tonnes of annual capacity.
-
Long-term contracts with Qatar (e.g., 4 million tonnes/year for 27 years starting 2026) and the US (35 billion cubic meters contracted for 2025–2029) indicate continued reliance on these suppliers, though US imports face uncertainty due to tariffs.
-
Pipeline gas imports (e.g., from Russia via Power of Siberia, ~30 billion cubic meters in 2024) complement LNG, reducing import dependency to 41% in 2023.
Source: LNGPrime.com
Guangdong Pearl River said in a statement that the deal was signed in Beijing at the World Gas Conference on May 20.
The Chinese firm said the deal is for 15 years.
However, it did not provide the volume or any additional details regarding the SPA.
This is Guangdong Pearl River’s first long-term LNG purchase agreement.
Guangdong Pearl River said the agreement is a milestone in the development of its natural gas segment, due to the changes in the international natural gas market and the significant increase in price volatility.
It is also an important step for the group to deepen cooperation in the international energy field and expand its global footprint.
Guangdong Pearl River’s website shows that it is somehow involved in Guangdong Energy’s Huizhou LNG terminal.
Last year, Chinese state-owned power utility Guangdong Energy received the commissioning cargo at the 4 mtpa facility.
On the other hand, ConocoPhillips is heavily investing in expanding its LNG business.
Last year, it signed deals with Germany’s SEFE and Uniper. The firm also made capacity bookings at import terminals in the Netherlands, Belgium, and Germany.
In addition, ConocoPhillips increased its stake in the Australia Pacific LNG export project in 2022, and purchased stakes in QatarEnergy’s giant North Field East (NFE) project and the North Field South (NFS) project.
On the Gulf Coast, ConocoPhillips secured 5 mtpa of offtake from the first phase of Sempra Infrastructure’s Port Arthur LNG project in Texas, and took a 30 percent equity interest in the project.
The company’s total offtake in North America is about 7.4 mtpa, pending FID at Mexico Pacific’s Saguaro Energia LNG.
It is worth mentioning here that China said in February it will impose tariffs of 15 percent on imports of coal and LNG from the US after President Donald Trump imposed a tariff on goods from the country.
Several reports claim that the country has not imported US LNG supplies since then.
The post ConocoPhillips seals Chinese LNG supply deal appeared first on Energy News Beat.
“}]]