China Tariffs Could Mean Bleak Winter Ahead for U.S. LNG
- PetroChina said to consider suspending U.S. gas purchases
- Cheniere last winter reaped big earnings from spot market
This article is for subscribers only.
This winter could be a bleak one for America’s natural gas exporters as the fastest-growing buyer of the fuel threatens to halt purchases amid an escalating trade war.
PetroChina, a unit of the state-owned China National Petroleum Corp., may suspend its buying of U.S. liquefied natural gas cargoes during the colder months, just as new American LNG terminals start up. The move could force gas suppliers like Cheniere Energy Inc. to cut prices as they seek to lure other buyers during the heating season, when demand peaks.