Chinese state oil giant CNOOC sees potential for US-China energy cooperation

(Corrects quote attribution from ‌CEO Huang ​Yongzhang ​to General Counsel Xu Yugao)

By Sam Li and Lewis Jackson

Aug 27 (Reuters) - Chinese state-owned oil and gas ‌major CNOOC sees potential for energy cooperation between ⁠China and the United States, a senior executive said on Thursday, adding ‌that the company would ‌consider investments alongside U.S. partners in the future.

• China was a buyer of U.S. oil and gas until Beijing ​imposed tariffs on the products during last year's trade war. While relations have improved since then, the ⁠tariffs remain in place and the energy trade is mostly frozen.

• During President Donald ​Trump's visit to Beijing in May, U.S. officials raised the possibility of energy deals, including ​China buying more liquefied natural gas, ‌although nothing has so far emerged.

• "The U.S. is currently the world's largest producer and exporter ⁠of LNG, while China is currently the largest importer of LNG — so there is actually still a lot of room for ⁠cooperation in the future," CNOOC General Counsel Xu Yugao said, without detailing any ​deals.

• Speaking after the company reported half-year results, Xu also said the company would work together with partners, including in the U.S., ‌to invest where it believes value can be created for shareholders.

• CNOOC is among several ‌Chinese energy companies to have long-term supply deals with U.S. ⁠LNG producers. Since the ‌tariffs were imposed, these ​companies are reselling the cargoes instead of paying tariffs.

(Lewis Jackson and Sam Li; Editing by Kirsten ‌Donovan)

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