China Looks to Lock in US LNG as Energy Crunch Raises Concerns

Talks with U.S. suppliers began early this year but speeded up in recent months amid one of Asia's biggest power-generating, heating fuel crunch in decades.

Chen Aizhu, Jessica Jaganathan and Scott DiSavino, Reuters

Major Chinese energy companies are in advanced talks with U.S. exporters to secure long-term LNG supplies, as soaring gas prices and domestic power shortages heighten concerns about the country's fuel security, several sources said.

At least five Chinese firms, including state major Sinopec Corp. and China National Offshore Oil Company (CNOOC) and local government-backed energy distributors like Zhejiang Energy, are in discussions with U.S. exporters, mainly Cheniere Energy and Venture Global, the sources told Reuters.

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