PetroChina, Qatar holding advanced talks on LNG supply deals: sources | Reuters:
PetroChina Ltd is in advanced discussions with Qatar to purchase liquefied natural gas (LNG) under short- and long-term agreements, three sources with knowledge of the talks said on Wednesday.
China needs to secure LNG to supply its push to replace coal with cleaner burning natural gas to reduce air pollution. After Beijing started the program last year, China has overtaken South Korea as the world’s second-biggest buyer of LNG.
Tying up with Qatar, the world’s biggest LNG producer, makes sense as the Middle Eastern country seeks buyers for a planned output expansion.
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