US LNG Gains Appeal Amid Middle East Tensions
Liquefied natural gas (LNG) buyers are shifting their focus to the US as tensions in the Middle East force them to seek alternative suppliers. Companies in Thailand, Pakistan, and Bangladesh are in talks with US exporters to sign long-term contracts, officials said at the Gastech conference in Bangkok.
The move comes as a result of the Iran war and turmoil over the Strait of Hormuz, which has raised concerns about the security of LNG supplies from the Middle East. China Gas Holdings Ltd. has already signed a rare sales agreement with US exporter Venture Global Inc., scheduled to start in 2030.
The US is emerging as an attractive option for LNG buyers seeking to hedge against future risks. Despite tensions between Washington and Beijing, China's state-owned energy company has found it necessary to diversify its supply sources.