China's Leap In Global LNG Market: More US And Qatari Contracts In Play
Portfolio Pulse from Benzinga Neuro
Chinese liquefied natural gas (LNG) importers are expanding their trading desks in London and Singapore to manage their growing supply portfolios in the volatile global market. This move positions them against global giants like Shell, BP, and TotalEnergies. Chinese companies ENN Natural Gas and China National Offshore Oil Corp are planning London offices, while China Gas Holdings is initiating a Singapore operation. Chinese gas importers have increased their long-term LNG contracts with Qatar and U.S. suppliers by nearly 50% since late 2022.
August 21, 2023 | 9:41 am
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NEUTRAL IMPACT
BP is mentioned as one of the global giants that Chinese LNG importers are positioning against as they expand their trading desks.
While the news mentions BP as a global giant in the energy market, it does not provide specific details about how this move by Chinese LNG importers will directly impact BP. Therefore, the short-term impact is neutral.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
TotalEnergies is mentioned as one of the global giants that Chinese LNG importers are positioning against as they expand their trading desks.
While the news mentions TotalEnergies as a global giant in the energy market, it does not provide specific details about how this move by Chinese LNG importers will directly impact TotalEnergies. Therefore, the short-term impact is neutral.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50