First US LNG Shipment to China in a Year to Be Re-Exported

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Or sign-in if you have an account.(Bloomberg) — The first US liquefied natural gas shipment to China in more than a year will be re-exported, as the local companies involved look to tap higher profits overseas and avoid paying tariffs, according to people with knowledge of the matter.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 AccountThe cargo from Venture Global’s Plaquemines facility in Louisiana was offloaded at the Yangpu port in southern China earlier this month, ship-tracking data compiled by Bloomberg shows. The gas was then loaded into bonded storage, where it is currently being prepared for re-export, people with knowledge of the matter said. The LNG was delivered with the intention for resale overseas, where prices are more attractive, the people said.If the shipment were imported into the local market, then the Chinese buyer would need to pay a 25% tariff on the fuel. A nearly empty tanker recently docked at Yangpu, ship-tracking data shows, and some of the US LNG could be loaded onto the ship.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 againThe move to re-export indicates that China isn’t in a rush to resume imports of US LNG, even as the war in the Middle East chokes deliveries from Qatar and the United Arab Emirates. The Asian nation has replaced US and Qatari flows by boosting deliveries from other suppliers such as Canada and Oman, ship data shows.China’s imports of US LNG plunged early last year as trade between the world’s largest buyer and the biggest seller of seaborne gas unraveled. Beijing slapped tariffs on US LNG in February 2025 in retaliation for levies on Chinese goods by the Trump administration.Meanwhile, higher global LNG prices over the past month have prompted Chinese importers to resell some of their long-term supply, as they can get better returns overseas than in the domestic market, according to traders.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. 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