China's LNG trading pattern to change with Qatar's newbuilding order
Qatar Petroleum recently secured slots for building eight 175,000 cbm LNG carriers along with the option for eight additional vessels at China’s Hudong–Zhonghua Shipbuilding. The deal is reportedly worth $3 billion and the vessels are scheduled for delivery in 2024-25.26 Mar 2020: Coronavirus to create new “normal” in LNG shipping
Development of mega LNG liquefaction projects continues to suffer in a coronavirus (COVID-19)-impacted market with low demand, historically low LNG prices and an oil price war on the sidelines.24 Jan 2020: US-China Phase-1 deal brings limited cheer for LNG shipping
With 25% tariff on LNG still in play, the Phase-1 deal between the US and China is not expected to bring any significant change in the LNG trade between the two countries. However, with China requiring additional LNG supplies in the coming years, the US still has the opportunity to become an important supplier for the soon-to-be world’s largest LNG market.
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