First US LNG Cargo Arrives in China After Tariffs Enacted
Aliquefied natural gas cargo from the United States has arrived in China, the first such cargo since Beijing imposed a tariff on US imports, shipping data from Refinitiv Eikon showed on Monday.
China, the second-biggest importer of LNG globally after Japan, announced in September a 10% tariff on US LNG imports as part of an escalating trade war between the world’s two biggest economies, S&P Global Platts reported.
Since the tariffs were announced, Chinese companies have largely been diverting US shipments to other countries, trade sources said.
This is the first US LNG cargo to be shipped to China since Sept. 10, the Eikon shipping data showed. The cargo was shipped on tanker Ribera Duero Knutsen from the Sabine Pass terminal operated by Cheniere Energy.
It arrived at the Zhejiang Ningbo LNG terminal in China on Nov. 11 and is now discharging, the data showed. The terminal on China’s east coast is majority owned by the state China National Offshore Oil Corp.
“There are too many cargoes from US, you can divert maybe 3 or 4 (but not all),” said a trader familiar with the Chinese market.
Total US LNG export capacity is expected to jump to 5.2 billion cubic feet per day by the end of 2018, 8.9 bcfd by the end of 2019 and 10.3 bcfd by the end of 2020, from about 3.8 bcfd now. This would make the United States the world’s third-biggest LNG exporter by capacity in 2019.
source: Financial Tribune
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Skeena advances Eskay Creek permitting, unlocks Orion funding
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
