Natural gas industry raises alarm over Trump’s trade war with China
US LNG export projects relied way too much on China. This was never really healthy as anyone who has been burnt by over relying on single customer or producer can attest. When i started my own little business, I went with one single customer for more than a year. Things were good until, they weren’t. I was messed up instantly. Now I have a portfolio of many smaller customers, and when one goes away it’s not so hard anymore. LNG producers in the US should be actively be developing new markets for their product instead of waiting for the China gravy train. They got cheap gas and world-class infrastructure. Work the market, show the world what LNG can do. Patting backs at posh conferences does not count.
China’s finance ministry, in retaliation to Trump increasing tariffs, announced plans to raise tariffs on a range of U.S. goods, including liquefied natural gas, or LNG. China will hike tariffs on U.S. LNG from 10% to 25% beginning June 1.
