PetroChina has just inked a deal to buy 3.4 million tonnes per annum (mtpa) of LNG from QatarGas in a move representing the Chinese firm’s largest ever to date LNG supply deal by volume. Per terms of the new 20-year agreement, state-controlled QatarGas has agreed to supply PetroChina from the QatarGas 2 project, a joint venture between Qatar Petroleum, U.S.-based oil major Exxon Mobil and French major Total SA. The first cargo will be delivered later this month. The deal has several market and geopolitical take-aways. First, it comes as President Donald Trump ramps up the ongoing trade war between the U.S. and China. On Friday, Trump said he was ready to levy additional taxes on practically all Chinese imports, threatening duties on $267 billion of goods over and above planned tariffs on $200 billion of Chinese products. On cue, China’s foreign ministry on Monday vowe d (once again) […]