Elizabeth Wishnick: 'LNG Deal Fuels Hopes for U.S.-China Trade'
November 19, 2020
WEAI Research Scholar Elizabeth Wishnick recently published an analysis of liquefied natural gas (LNG) imports and US-China trade via the blog, China's Resource Risks. In the article, titled "LNG Deal Fuels Hopes for US-China Trade," Wishnick looks at US-China trade relations, PM2.5 emissions reduction targets, and overall risks in the global trade market to provide a full picture of the impact of China's purchase of US LNG.
"LNG producers see China as a lucrative market because it is the second largest importer of LNG after Japan. However, this all may change if the Chinese government succeeds in meeting its pledge to become carbon neutral by 2060, as Xi Jinping outlined at the United Nations in September 2020. If implemented, this would require a fundamental reorientation of China's energy policy away from fossil fuels, particulary coal, but also oil and gas. Currently, China gets just 15% of its energy from sources other than fossil fuels. To be carbon neutral in 2060, this would need to change to more than 50%, requiring major changes in China's energy mix," Wishnick wrote.