The Chinese government is diversifying the country’s natural gas imports with new contracts signed between Cosco Shipping and Novatek for liquefied natural gas (LNG) supplies from the Arctic. The need for new sources is particularly pressing given China’s LNG imports surged 21.0% higher year over year in the three months to Apr. 30 and increased by a further 4.7% in May. Tariffs on imports from the U.S. make those sources uneconomic. Yet, those tariffs have had a minimal impact on total U.S. exports by Cheniere and Dominion Energy which rose 40.5% year over year in volume terms in the th...
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