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Policy & Regulation

China turns to alternatives as US trade spat escalates

Energy security has jumped to the top of the political agenda in Beijing as China prepares for an escalation of its trade spat with the US Energy security has jumped to the top of the political agenda in Beijing as China prepares for an escalation of its trade spat with the US.
By Colin Shek 3 June 2019 Asia Pacific / LNG 0 34272
The USS John McCain off the coast of Singapore in 2017. (PA)

Beijing has grown increasingly concerned about energy security in light of the twists and turns in its trade negotiations with Washington and China’s increasing dependence on LNG.

The move by Chinese buyers to take a combined 20% stake in Novatek’s 20 mtpa Arctic LNG 2 project in Russia was in part aimed at sending a message to the United States that China has alternative supply sources as well as other investment options.

Novatek did not disclose the value of the deal,...