Australia is set to suffer great losses in its energy trade with China, as China now reportedly seeks to lock in long-term liquefied natural gas (LNG) supplies from the US, following the recent power crunch caused by surging coal prices.
At least five Chinese firms, including oil giant Sinopec Corp and China National Offshore Oil Co (CNOOC), are in discussions with US exporters, mainly Cheniere Energy and Venture Global, about potential LNG deals, Reuters reported, citing anonymous sources.
Australia loses as China reportedly buys more US LNG – Global Times