Closer Energy & Climate Cooperation

Lia Zhu, China Daily (March 08): Energy industry experts in the United States have felt encouraged by instances of closer cooperation between the United States and China in recent years and are calling for further collaboration to address climate change issues. Fred Hutchison of LNG Allies, a nonprofit organization backing the USLNG industry, said LNG has been “a bright spot” in trade between the US and China in the past couple of years.

Hutchison: “In recent months, we’ve seen a number of companies in China sign long-term contracts with US LNG export facilities. All of the large LNG projects in the United States require project financing. They are anywhere from $5 billion to $10 billion or more in cost, and those have to be backed by long-term contracts with creditworthy counterparties. China has represented a tremendous market for the US LNG industry. And, we’re anticipating that LNG will play a very important role in the substitution for coal power in China, which will be incredibly important as the world moves through its transition.”

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