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China Gas Buyers Seek Cheap Russian Fuel Shunned by the World

  • Importers in discussions to buy Russian LNG at deep discount
  • Companies use cautious approach to avoid overseas backlash

China’s top liquefied natural gas importers are cautiously looking to purchase additional Russian shipments that have been shunned by the market in a bid to take advantage of cheap prices.

State-owned companies including Sinopec and PetroChina are in discussions with suppliers to buy spot cargoes from Russia at a deep discount, according to people with knowledge of the matter. Some importers are considering using Russian firms to participate in LNG purchase tenders on their behalf to hide their procurement plans from overseas governments, the people said.