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China tightens grip as dominant LNG buyer with long-term deals

Sinopec leads way with Chinese companies locking in 40% of recent contracts

Chinese energy major Sinopec Group reached a 27-year agreement with state-owned QatarEnergy late last year to buy 4 million tonnes of LNG annually. The imports are due to begin around 2026.

As a key client, China is also negotiating to invest in a massive Qatari project to expand LNG output.

A private sector Chinese energy company, ENN Group, signed a contract last year with Texas-based Energy Transfer to buy 2.7 million tonnes of LNG annually for 20 years. ENN increased its purchasing agreement with NextDecade, also headquartered in Texas, to 2 million tonnes a year for 20 years as well.

https://asia.nikkei.com/Business/Energy/China-tightens-grip-as-dominant-LNG-buyer-with-long-term-deals#:~:text=Over%202021%20and%202022%2C%20China,tonnes%20from%202015%20through%202020.