China’s seemingly endless thirst for natural gas is on a collision course with not only U.S.-based liquefied natural gas (LNG) project developments, but others as well, including Russia and Australia, in a move that is revolutionizing global markets for the super-cooled fuel. Per China’s government mandate to replace coal-based power generation with natural gas, the cleaner burning fuel is set to make up at least 10 percent of the country’s energy mix by 2020, with further earmarks after that. Not only is China’s pivot away from coal to natural gas changing natural gas market dynamics, both piped gas and LNG, it is also causing a knee jerk response among the country’s state-owned oil majors. Going long on gas Yesterday, state-owed Sinopec Group said that it aims to more than double its receiving capacity for LNG over the next six years. The company will add new LNG receiving facilities along […]