CNOOC CEO Sees Potential for Energy Cooperation with US

Chinese state-owned oil and gas major CNOOC sees potential for cooperation between China and the US in the energy sector, its CEO said. Huang Yongzhang stated that 'the U.S. is currently the world's largest producer and exporter of LNG, while China is currently the largest importer of LNG, so there is actually still a lot of room for cooperation in the future.'

The two countries had a trade war last year that included tariffs on US oil and gas imports by China. Although relations have improved since then, the tariffs remain in place.

CNOOC is among several Chinese energy companies with long-term supply deals with US LNG producers. Since the tariffs were imposed, these companies are reselling the cargoes instead of paying tariffs.