Exclusive-China looks to lock in U.S. LNG as energy crunch raises concerns -sources [Yahoo! Finance News]
PetroChina Company Limited (PTR)
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petrochina.com.cn/ptr/tzzgx/tzzgx.shtml
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Source: Yahoo! Finance News
By Chen Aizhu, Jessica Jaganathan and Scott DiSavinoSINGAPORE/NEW YORK () – Major Chinese energy companies are in advanced talks with U.S. exporters to secure long-term liquefied natural gas (LNG)supplies, as soaring gas prices and domestic power shortages heighten concerns about the country’s fuel security, several sources said.At least five Chinese firms, including state major Sinopec Corp and China National Offshore Oil Company (CNOOC) and local government-backed energy distributors like Zhejiang , are in discussions with U.S. exporters, mainly Cheniere and Venture Global, the sources told .The discussions could lead to deals worth tens of billions of dollars that would mark a surge in China’s LNG imports from the United States in coming years. At the height of a Sino-U.S. trade war in 2019, gas trade briefly came to a standstill. LNG export facilities can take years to build, and there are several projects in North America in the works that are not expected to start exporting unt
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