News that Cheniere (NYSE:LNG) signed a long-term liquefied natural gas (LNG) supply contract with China’s ENN Natural Gas (CH:600803) earlier this week marked the first major US-China deal since 2018. Over the past three years, new LNG deals between the two great powers were put on ice as rising political tensions under the Trump administration thwarted trade.
A buyer of LNG has cancelled two cargoes from Cheniere Energy, the biggest US exporter, as a global glut pummels prices for the fuel and threatens to shut a key outlet for shale production.
A LNG tanker docked at the Sabine Pass terminal in Louisiana only days before the United States ships its first export cargo of seaborne gas from the lower 48 states.
Cheniere Energy has reported a net loss $291million for the three months ended December 31, 2015, compared to a net loss of $158.6million the previous year.