China urged to stock up on bargain-price LNG
China’s Ningbo LNG terminal. Analysts say the country should buy cheap LNG while it has the chance. (CNOOC)
Chinese companies need to capitalise on the slump in global energy prices to lock in more LNG supply deals and acquire upstream assets to feed future export projects, a senior industry official has said.
"Chinese companies, no matter whether they’re NOCs or not, should buy as many LNG resources as possible, to prepare for demand in future years, such as 2020-2025," Hu Weiping, former deputy director general of the Department of Oil and Gas at the National Energy Administration, said at the China International LNG Summit in Beijing last week.