Cheniere Energy looking to increase LNG shipments to China

Cheniere Energy

Cheniere Energy is hoping to secure long-term LNG supply contracts with China. Company photo.

Cheniere Energy stocks up in trading on Friday

Cheniere Energy announced on Friday that it has been in talks with Chinese state-owned companies concerning an increase in shipments of LNG to China from the United States.

Since February 2016, Cheniere has sold nine LNG cargos to China.  Reuters reports all were sold on spot-based contracts and the company is hoping to secure long-term contracts.

“We have had extensive negotiations with the Chinese over the last month,” Cheniere spokesman Eben Burnham-Snyder told Reuters.

The Trump administration agreed with Beijing on Thursday to increase access for some US companies, including energy companies to China.

Cheniere Energy is the only company able to export LNG from the US.  The Trump agreement gives the Houston-based company an opportunity to sign long-term contracts with the highly-prized energy market.

In Friday trading, shares of Cheniere rose 3.8 per cent.

 

 

 

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