China Looks to Curb Dependence on Qatar for Future LNG Supply

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessChina Looks to Curb Dependence on Qatar for Future LNG SupplyChinese importers of liquefied natural gas are exploring options to reduce their reliance on Qatar, as ongoing disruptions in the Strait of Hormuz threaten a long-established supply chain.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Chinese importers of liquefied natural gas are exploring options to reduce their reliance on Qatar, as ongoing disruptions in the Strait of Hormuz threaten a long-established supply chain.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountMajor state-owned buyers, including Sinopec and PetroChina Co., are in discussions with exporters of the fuel that don’t depend on the Persian Gulf for shipments, according to people with knowledge of the matter.The Chinese companies are looking to sign contracts for deliveries that would begin before 2030 for a term of at least a decade, the people said, declining to be named discussing a sensitive matter. Canada is one source being considered, said two of the people. Sinopec and PetroChina didn’t immediately respond to requests for comment.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againSuch a shift would mark one of the clearest signs yet that the war in Iran could dramatically reshape the global LNG market, as major importers reassess their exposure to the Persian Gulf. China, the world’s top LNG importer, is Qatar’s largest customer, and the emirate accounted for almost 30% of its supply last year. The two countries have signed some of the industry’s biggest deals in recent years, helping underpin Doha’s massive expansion plans.China isn’t expected to try and cancel its existing agreements with Qatar, which are binding, the people said.Another consideration for the Chinese companies is to avoid locking in supply from the US, the world’s biggest LNG exporter, due to trade tensions, the people said. Shipments between the two countries plunged after Beijing slapped tariffs on US LNG last year in retaliation to American levies on Chinese goods.Qatar had been aiming to quickly revive production shuttered in March following Iranian attacks. However, renewed conflict in the strait has once again effectively shut the vital waterway, forcing Qatar to pause its efforts to restart Ras Laffan, the world’s largest LNG plant.China imported only about 100,000 tons of the fuel from Qatar between April and June, according to ship-tracking data compiled by Bloomberg. That compares to 4.7 million tons over the same period last year.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.