China’s state-controlled energy firms PetroChina and CNOOC, the country’s two largest LNG buyers, are looking to renegotiate the pricing basis of their term supply contracts with Qatari state-controlled Qatargas. The move comes after Qatari supplier Rasgas agreed late last year to revise its long-term, oil-linked contract with Indian state-controlled Petronet LNG, switching to a shorter-term average of crude prices that cut Petronet’s exposure to higherpriced crude (AGL, January, p7).
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