As you read this story, remember four things:
- the US has a lot of natural gas
- the US is building a lot of LNG export terminals
- the US allows LNG exports
- China's appetite for LNG is growing
Data points
from Reuters/Rigzone:
- PetroChina is one of the larger Chinese oil and gas firms
- PetroChina has three LNG receiving terminals
- it is adding new storage tanks for LNG at two of those terminals
- one of the sites, Rudong: this is part of a second-phase expansion; will bring handling capacity up to 6.5 million tonnes/year; up from 3.5 million tonnes previously
- at the second site, Dalian: will double its receiving capacity there to 6 million tonnes/year
- PetroChina is raising its natural gas supply this winter by 7% year-over-year
- most of that increase is domestically produced; a "moderate" amount will be due to imports
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