PTT in pact with Chinese private gas player with LNG on menu - Upstream Online
PTT in pact with Chinese private gas player with LNG on menu | Upstream Online
Chinese private gas company Huaying Natural Gas and Thai state-owned PTT have signed an agreemnet to cooperate in liquefied natural gas terminal use and trading.
The memorandum of understanding, signed last week, will enable Guangdong-based Huaying to tap PTT’s gloabl LNG portfolio for supplies for its under-construction terminal at Chaozhou city in southern China’s Guangdong province.
Related Knowledge Center: Liquefied natural gas
Driven by plentiful natural gas produced from shale plays, the United States began exporting liquefied natural gas in 2016 when the Sabine Pass terminal in Louisiana opened and shipped its first cargo. Since then, additional capacity, or trains, have been added to Sabine Pass, and terminals have become operational in Cameron Parish, La.; Hackberry, La.; Cove Point, Md.; and Corpus Christi, Texas. The Energy Information Administration projects that U.S. LNG export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world, behind Australia and Qatar. The tariff war with China has the potential to impact some final investment decisions for additional terminals in the coming months.