China just getting warmed up with US shale deals

Tokyo - Thirsty for clean fuel, the country may quadruple LNG imports by 2040.

Tokyo - Energy deals announced during U.S. President Donald Trump’s recent visit to China may herald a major shift in the global natural gas market. China Petroleum & Chemical, or Sinopec -- the top state oil company -- on Nov. 9 agreed to advance a liquefied natural gas project in Alaska. Beijing’s eagerness to invest in the U.S. shale industry reflects its desire to tackle air pollution by shifting away from coal. Eventually, China is expected to overtake Japan as the world’s No. 1 LNG importer. Some estimates suggest Chinese LNG imports will quadruple by 2040. The country’s emergence as a key natural gas buyer could keep upward pressure on prices over the long term. Read more.

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