Technip Energies CEO Says US LNG Projects Can Skirt Chinese Yards

Technip Energies NV Chief Executive Officer Arnaud Pieton said that builders of US liquefied natural gas export terminals can avoid tariff uncertainty on Chinese-made equipment by relying on yards elsewhere in Asia and the Middle East.

His comments came as trade tensions between Washington and Beijing rattled global markets Friday, sending stocks, oil and cryptocurrencies lower. The flare-up followed a social media post from President Donald Trump threatening retaliation against China’s export curbs on rare earths and other measures. The administration later signaled openness to a deal with Beijing to ease tensions, while warning that China’s new export controls remained a major obstacle to talks.