No More American LNG in China: Beijing Deals ‘Serious Blow to US Energy Sector’

Monday, October 15, 2018
By Paul Martin

SputnikNews.com
15.10.2018

The developments come amid the ongoing trade spat between Beijing and Washington. As of September 24, US President Donald Trump imposed additional tariffs on $200 billion in Chinese goods, while China retaliated with levies on $60 billion in American products, including a 10-percent tariff on US liquefied natural gas (LNG).

Beijing has put an end to its purchase of US liquefied natural gas (LNG), Reuters cited several sources as saying late last week.

In his opinion piece for Sputnik, political analyst Dmitry Lekukh pointed out that the move will deal a “very serious blow to the US energy sector given that last year the Americans supplied about 3.6 million tons of LNG to the Chinese markets.”

Lekukh recalled that in the past year, US LNG manufacturers have earned about one billion dollars per month from LNG exports to China.

“Given the constant reduction of Chinese coal capacities and the growth of the country’s gas needs, the US is now losing access to the most promising market in Southeast Asia,” he noted, adding that China is expected to become the leader among gas importers by November of this year.

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