U.S., China See ‘Win-Win’ Potential in Expanding Natural Gas Trade, Says Energy Secretary

U.S. Energy Secretary Chris Wright said there is major “win-win” potential for natural gas trade between the United States and China, citing China’s position as the world’s largest gas importer and America’s growing LNG export capacity. Wright also reaffirmed U.S. readiness to supply Europe’s gas needs.

(Reuters) - U.S. Energy Secretary Chris Wright said on Friday that there is lots of room for a "win-win" on energy trade between China and the United States.

U.S. President Donald Trump and China President Xi Jinping secured a fragile trade truce in South Korea on Thursday.

"There is room for great energy trade between China and the United States. China is the largest importer of natural gas in the world. The United States is the largest exporter of natural gas. So a lot of room for win-win there," Wright told reporters on the sidelines of a G7 energy and environment minister summit in Toronto.

He also reiterated that the U.S., the world's top producer of natural gas, can supply Europe with all its needs if the continent chooses to cut off gas pipeline imports from Russia to pressure Moscow over the war in Ukraine.

"We can tomorrow displace all the remaining Russian natural gas that comes to Europe and America is ready and willing to supply that today," he said.