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Australian LNG keeps flowing to China despite growing tensions

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15 July 2021

Australian LNG keeps flowing to China despite growing tensions

Report summary

Political tensions between China and Australia are rising. This could impact the LNG sector, which would hurt the economic prospects of both countries. It may also impact China’s efforts to decarbonise. Over the past decade, both Chinese NOCs and private companies have acquired Australian upstream positions. But the rising will likely limit the number of new positions taken. Chinese buyers may also avoid signing new long-term offtake deals from Australian projects until the relationship improves. Despite this, the LNG trade is unlikely to stop, existing LNG contracts will be unaffected and spot trades will continue to rise.

Table of contents

    • Rising tensions cause concerns over LNG trade
    • Upstream cooperation stalls after a track record of success
    • Will China become a home to surplus uncontracted LNG volumes?
    • But Australian LNG is still a good fit for China in the longer term
    • Australian LNG will remain a critical part of China's gas mix

Tables and charts

This report includes 10 images and tables including:

  • Verbal conflicts between Canberra and Beijing (Jan 2019 to May 2021)
  • Chinese investment in Australian upstream
  • Historical Australian LNG imports to China
  • LNG contract signed in 2020/21
  • Chinese LNG demand outlook
  • Australian LNG export outlook
  • Term/ spot Australian LNG imports in 2020/21
  • Chinese investment in Australian LNG upstream
  • Australian LNG contracts into China
  • Australian LNG project by composition

What's included

This report contains:

  • Document

    Australian LNG keeps flowing to China despite growing tensions

    PDF 1.51 MB