Thursday, 20 September 2018

China imposes retaliatory tariff on US LNG effective September 24

As the US-China trade war escalates, Beijing is implementing a retaliatory 10% tariff on US LNG imports starting from September 24. In the twelve months up until June 2018 China used to be No.2 buyer of US LNG, accounting for about 3 mtpa mostly bought through Shell. Now, state-owned Chinese buyers started to snuff gas supplies from America, and PetroChina just entered a 22-year purchase agreement with Qatargas.

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