At this forum held under the background of US-China trade conflicts, JLC analyzed the development trend of China’s energy market and the potential for cooperation between the US and China.

    "China and the US are the world’s two largest energy consumers and their consumption almost accounts for half of the world’s total,” said Crystal, Singapore-based sales director from JLC, “and there is great potential for US-China trade.”

    This topic aroused strong interest among forum attendees. Nearly 120 representatives from global refiners, energy companies, trading firm and financial institutes including ExxonMobil, Shell, BP, Chevron and Mercuria attended the forum and had discussions with JLC about the latest developments and new opportunities in the two countries’ energy markets.

    Amanda Zhao, the general manager of JLC’s International Department, gave a speech that focused on China’s refining-chemical integration and elaborated on the changes in China’s oil product supply and demand. She also talked about investment opportunities and risks in China’s oil industry.

    The construction of refining-chemical complexes is an inevitable trend in the development of the global petrochemical industry, and China is also picking up this trend. The country is likely to boast nearly 900 million mt/yr (18 million bbl/day) of refining capacity by 2020 and its dependence on foreign crude is still on the rise.

    Also at the forum, Rosa Luo, a senior consultant with JLC, gave a talk about the latest developments in China’s liquefied natural gas (LNG) market, explaining changes in the country’s natural gas and LNG consumption and future trends. She also talked about impacts of trade conflicts on China’s and the US’ LNG imports and exports

    Meanwhile, Roger Chen from Singapore-based Sunshine Oil, also a special consultant with JLC, delivered a speech with the main topic “Bridge over Troubled Water” and made attendees more aware of the opportunities and potential for cooperation between the US and China. Mr. Chen first gave a brief introduction about the development of China’s state-owned oil majors and independent refiners and then offered explanation about Chinese independent refiners’ oil trading that has puzzled Western oil companies. At the end of the speech, Mr. Chen came up with fives prospects in the Chinese oil market-quotas for imported crude, the position and importance of private companies in China’s future economic development, how China’s crude futures trading will benefit from the China International Import Expo, the international “friend circle” for Zhejiang province’s energy market and the reason for pricing imported crude against Shanghai crude futures. Mr. Chen gave an interesting and colorful talk about the Chinese market, brightened up with his personal experiences in the market.

    The development of China’s energy market has attracted attention from lots of energy companies in the US and forum attendees discussed with JLC about the major factors in market development. They also consulted JLC about China’s LNG market and raised questions about reforms in the market and whether gas shortages will recur this winter, also about gas transport by pipeline and receiving terminals.

    This forum helped international energy companies understand the Chinese market better. The success of the forum also indicated increasing and deepening international service by JLC and international oil and gas companies’ acceptance of JLC’s efforts to build bridges that link the Chinese market and the international one.