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China and UAE forge mega natural gas deal: USA sidelined!
China, UAE strike 5-year LNG deal as US trade war escalates. Rising tariffs are making US imports more difficult.
China and UAE forge mega natural gas deal: USA sidelined!
Quake in the world of gas! China has entered the stage and signed a pompous 5-year liquefied natural gas (LNG) deal with the United Arab Emirates (UAE). The highlight: America is left out while tariffs skyrocket. CNOOC, China's major energy player, and the UAE's ADNOC are forging this alliance at a time of political tension. This is the emirate's third gas contract with the Chinese in a single weekend. All you can say is: powder keg, let it rip!
The icing on the cake: ENN, another big player from China, has agreed a 15-year contract - the biggest deal of all. From 2028, the UAE will supply one million tonnes of gas annually. CNOOC plans to start delivering 500,000 tons as early as next year. All this while talk of a trade war is getting louder and louder. If you take a look at the global LNG market, you can see that China is the king of LPG imports on the global stage. Not a drop of American LNG in March – sounds like a clear statement!
Trump and his tariffs, oh dear, are causing quite a stir. But China is clever and is looking to escape by bundling new, magnificent agreements. The details of these changes are can be read in the watcher.guru article.