15:42 - 17.07.2026

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July 17, Fineko/abc.az. Chinese state-owned companies Sinopec and PetroChina have started negotiations with new LNG suppliers to diminish their dependence on Qatar amid disruptions to shipping through the Strait of Hormuz.

The companies are considering long-term contracts of at least 10 years, with deliveries starting before 2030. Canada is one of the possible new sources of LNG.

China, the world's largest LNG importer, does not plan to abandon its existing agreements with Qatar, but rather intends to diversify its supply sources. Previously, Qatar accounted for approx. 30% of China's LNG imports.

Due to shipping complications, Qatar's LNG exports have significantly decreased, with China importing around 100,000 tons of LNG from April to June, compared to 4.7 million tons for the 2025 same term.