Tariff effect

According to S&P Global Platts Analytics data, China imported more than 1.88 million metric tons of US LNG over the January-July period, compared with 1.61 million tons in 2017.

But, there has been a recent reversal, with China only receiving four shipments over June and July, compared with five in May alone, the data showed.

Figures from Reuters show that US LNG sales to China already slumped from almost 400,000 tons in May to just 130,000 tons in July. Supplies from Australia, Malaysia, Indonesia, Russia and Papua New Guinea increased.

Platts reported earlier that Unipec, the trading arm of China Petroleum and Chemical Corp, resold a significant portion of its June-loading US crude oil cargoes after Beijing announced it was considering the further tariffs in mid-June.