LNG Canada says China’s U.S. LNG import tariff could leave projects ‘dead in the water’ [Toronto Globe and Mail (Ontario, Canada)]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: Toronto Globe and Mail
LNG Canada challenged competing U.S. liquefied natural gas (LNG) projects on Monday, saying many could end up “dead in the water” as long as China keeps its tariff on U.S. imports of the fuel as part of the trade war between the countries. China in September announced a 10 per cent tariff on U.S. LNG imports as part of an escalating trade war between the world’s two biggest economies. This month, Royal Dutch Shell said it received a final investment decision (FID) for its $31 billion LNG Canada project, which is expected to start exporting in 2025. Story continues below advertisement Speaking at an industry event in Nagoya on Monday, LNG Canada Chief Executive Andy Calitz said the FID “was irrespective” of Chinese tariffs on U.S. LNG, but added such measures would make U.S. LNG less competitive. “The world has become so competitive that if we are to face a 10 per cent surcharge tariff on LNG, then as far as I’m concerned, you’re dead in th
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