Caixin
Jan 13, 2022 04:43 AM
CHINA

China Secures More Long-Term LNG Supply From Russia

An LNG tanker owned by CNOOC.
An LNG tanker owned by CNOOC.

China is buying more liquefied natural gas (LNG) from Russia as domestic demand continues to rise in the world's largest LNG importer.

Two Chinese companies Tuesday announced long-term LNG supply agreements with Russia’s natural gas producer Novatek. Chinese buyers are taking 5.76 million tons of LNG from the company’s Arctic LNG 2 project, or 29% of expected capacity.

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