Hot air? U.S. gas exporters rush to sell LNG to ChinaBEIJING (Reuters) - U.S. gas exporters and traders are aiming to grab a bigger chunk of the lucrative, growing business of exporting gas to China, the world s third-largest buyer, when they accompany Commerce Secretary Wilbur Ross to China next month. But the talk may all be hot air if the U.S. suppliers can t compete with bargain prices agreed on long-term deals with rivals Australia, Qatar and Malaysia. According to a list seen by Reuters, 10 of the 29 companies traveling with Ross and U.S President Donald Trump are involved in energy and gas. [L4N1N228C] Among them are Cheniere Energy Inc, which operates the only U.S. LNG export terminal and Freepoint Commodities, founded and run by David Messer, who led power utility Sempra s vaunted commodities division. [L4N1N228C] Their presence underscores the U.S. ambition to sell more of its excess gas abroad as the U.S. shale revolution threatens to upset the global LNG market. China s appetite has soared as it embarks on an audacious bid to heat millions of homes across the north by gas for the first time this winter and switch tens of thousands of industrial boilers to the cleaner fuel as part of its push to clear the skies.  Without sufficient domestic output to meet growing demand, imports have surged this year, offering huge potential for major exporting nations such as the United States.  We re on the mission to talk to Chinese companies to get something signed up,  said Frederick Jones, founder and chief executive of Delfin Midstream LLC, which is building floating LNG vessels that would sit 50 miles off the coast of Louisiana.  He s heading to Beijing on the trip scheduled to begin on Nov. 8 with his chief financial officer Matthew Weil. Delfin has no customers yet for its new terminal, but hopes to  showcase  the company to state-owned and large private companies. Delfin has been in talks with Chinese buyers for potential offtake deals as well as funds for financing, according to a person with knowledge of the exchanges. A Chinese oil trading executive involved in discussions ahead of the trip expected the delegation to yield several short-term supply deals. (For a graphic on 'LNG market overview' click reut.rs/2z21LDq) In May, the United States and China agreed to boost trade under the  100-day  trade talks aimed at reducing a U.S. trade deficit with China that reached $347 billion last year. Among the agreements is one allowing Chinese buyers to purchase long-term supplies from the United States directly.     Current long-term contracts with Qatar and Australia signed between 2009 and 2013 will expire around 2030/40, but China will need to top up imports to meet growing demand.  Uncertain when the global LNG market will bottom out, Chinese buyers are cautiously avoiding lining up new long-term contracts, but rather are looking at signing five-year or even shorter-term deals based on spot prices, sources said. U.S. imports of LNG have exploded this year.    (For a graphic on 'China LNG Imports by Origin' click reut.rs/2yO1bvM) In the first nine months of the year, shipments hit almost 600,000 tonnes, ranking the United States as the sixth largest LNG importer, leap-frogging Nigeria and Peru.  The average price China paid for U.S. LNG was $7.62 per million of British thermal units (mmBtu) over the past 12 months on a delivered basis, compared to $6.54 for Australia, according to Reuters calculations based on monthly customs data. In 2016, China imported just under 200,000 tonnes of LNG, up from 62,601 tonnes in 2015.  China expects that gas demand will rise to between 320 and 360 billion cubic metres per year by 2020. The increase is the equivalent of the annual consumption of Japan, Asia s second-largest gas consumer after China.  (For a graphic on 'China natural gas imports' click reut.rs/2xDm2CA) worldnews
hot air gas exporters rush sell lng chinabeijing reuters gas exporters traders aiming grab bigger chunk lucrative growing business exporting gas china world buyer accompany commerce secretary wilbur ross china next month but talk may hot air suppliers compete bargain prices agreed deals rivals australia qatar malaysia according list seen reuters companies traveling ross president donald trump involved energy gas among cheniere energy inc operates lng export terminal freepoint commodities founded run david lesser led power utility sempre haunted commodities division their presence underscores ambition sell excess gas abroad shale revolution threatens upset global lng market china appetite soared embarks audacious bid heat millions homes across north gas first time winter switch tens thousands industrial boilers cleaner fuel part push clear skies without sufficient domestic output meet growing demand imports surged year offering huge potential major exporting nations united states we mission talk chinese companies get something signed said frederick jones founder chief executive define mainstream llc building floating lng vessels would sit miles coast louisiana he heading beijing trip scheduled begin chief financial officer matthew well define customers yet new terminal hopes showcase company large private companies define talks chinese buyers potential offname deals well funds financing according person knowledge exchanges a chinese oil trading executive involved discussions ahead trip expected delegation yield several supply deals for graphic market overview click in may united states china agreed boost trade trade talks aimed reducing trade deficit china reached billion last year among agreements one allowing chinese buyers purchase supplies united states directly current contracts qatar australia signed expire around china need top imports meet growing demand uncertain global lng market bottom chinese buyers cautiously avoiding lining new contracts rather looking signing even deals based spot prices sources said imports lng exploded year for graphic lng imports origin click in first nine months year shipments hit almost tonnes ranking united states sixth largest lng importer nigeria peru the average price china paid lng per million british thermal units mmbtu past months delivered basis compared australia according reuters calculations based monthly customs data in china imported tonnes lng tonnes china expects gas demand rise billion cubic metres per year the increase equivalent annual consumption japan asia gas consumer china for graphic natural gas imports click worldnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Hot air? U.S. gas exporters rush to sell LNG to ChinaBEIJING (Reuters) - U.S. gas exporters and traders are aiming to grab a bigger chunk of the lucrative, growing business of exporting gas to China, the world s third-largest buyer, when they accompany Commerce Secretary Wilbur Ross to China next month. But the talk may all be hot air if the U.S. suppliers can t compete with bargain prices agreed on long-term deals with rivals Australia, Qatar and Malaysia. According to a list seen by Reuters, 10 of the 29 companies traveling with Ross and U.S President Donald Trump are involved in energy and gas. [L4N1N228C] Among them are Cheniere Energy Inc, which operates the only U.S. LNG export terminal and Freepoint Commodities, founded and run by David Messer, who led power utility Sempra s vaunted commodities division. [L4N1N228C] Their presence underscores the U.S. ambition to sell more of its excess gas abroad as the U.S. shale revolution threatens to upset the global LNG market. China s appetite has soared as it embarks on an audacious bid to heat millions of homes across the north by gas for the first time this winter and switch tens of thousands of industrial boilers to the cleaner fuel as part of its push to clear the skies.  Without sufficient domestic output to meet growing demand, imports have surged this year, offering huge potential for major exporting nations such as the United States.  We re on the mission to talk to Chinese companies to get something signed up,  said Frederick Jones, founder and chief executive of Delfin Midstream LLC, which is building floating LNG vessels that would sit 50 miles off the coast of Louisiana.  He s heading to Beijing on the trip scheduled to begin on Nov. 8 with his chief financial officer Matthew Weil. Delfin has no customers yet for its new terminal, but hopes to  showcase  the company to state-owned and large private companies. Delfin has been in talks with Chinese buyers for potential offtake deals as well as funds for financing, according to a person with knowledge of the exchanges. A Chinese oil trading executive involved in discussions ahead of the trip expected the delegation to yield several short-term supply deals. (For a graphic on 'LNG market overview' click reut.rs/2z21LDq) In May, the United States and China agreed to boost trade under the  100-day  trade talks aimed at reducing a U.S. trade deficit with China that reached $347 billion last year. Among the agreements is one allowing Chinese buyers to purchase long-term supplies from the United States directly.     Current long-term contracts with Qatar and Australia signed between 2009 and 2013 will expire around 2030/40, but China will need to top up imports to meet growing demand.  Uncertain when the global LNG market will bottom out, Chinese buyers are cautiously avoiding lining up new long-term contracts, but rather are looking at signing five-year or even shorter-term deals based on spot prices, sources said. U.S. imports of LNG have exploded this year.    (For a graphic on 'China LNG Imports by Origin' click reut.rs/2yO1bvM) In the first nine months of the year, shipments hit almost 600,000 tonnes, ranking the United States as the sixth largest LNG importer, leap-frogging Nigeria and Peru.  The average price China paid for U.S. LNG was $7.62 per million of British thermal units (mmBtu) over the past 12 months on a delivered basis, compared to $6.54 for Australia, according to Reuters calculations based on monthly customs data. In 2016, China imported just under 200,000 tonnes of LNG, up from 62,601 tonnes in 2015.  China expects that gas demand will rise to between 320 and 360 billion cubic metres per year by 2020. The increase is the equivalent of the annual consumption of Japan, Asia s second-largest gas consumer after China.  (For a graphic on 'China natural gas imports' click reut.rs/2xDm2CA) worldnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: hot air gas exporters rush sell lng chinabeijing reuters gas exporters traders aiming grab bigger chunk lucrative growing business exporting gas china world buyer accompany commerce secretary wilbur ross china next month but talk may hot air suppliers compete bargain prices agreed deals rivals australia qatar malaysia according list seen reuters companies traveling ross president donald trump involved energy gas among cheniere energy inc operates lng export terminal freepoint commodities founded run david lesser led power utility sempre haunted commodities division their presence underscores ambition sell excess gas abroad shale revolution threatens upset global lng market china appetite soared embarks audacious bid heat millions homes across north gas first time winter switch tens thousands industrial boilers cleaner fuel part push clear skies without sufficient domestic output meet growing demand imports surged year offering huge potential major exporting nations united states we mission talk chinese companies get something signed said frederick jones founder chief executive define mainstream llc building floating lng vessels would sit miles coast louisiana he heading beijing trip scheduled begin chief financial officer matthew well define customers yet new terminal hopes showcase company large private companies define talks chinese buyers potential offname deals well funds financing according person knowledge exchanges a chinese oil trading executive involved discussions ahead trip expected delegation yield several supply deals for graphic market overview click in may united states china agreed boost trade trade talks aimed reducing trade deficit china reached billion last year among agreements one allowing chinese buyers purchase supplies united states directly current contracts qatar australia signed expire around china need top imports meet growing demand uncertain global lng market bottom chinese buyers cautiously avoiding lining new contracts rather looking signing even deals based spot prices sources said imports lng exploded year for graphic lng imports origin click in first nine months year shipments hit almost tonnes ranking united states sixth largest lng importer nigeria peru the average price china paid lng per million british thermal units mmbtu past months delivered basis compared australia according reuters calculations based monthly customs data in china imported tonnes lng tonnes china expects gas demand rise billion cubic metres per year the increase equivalent annual consumption japan asia gas consumer china for graphic natural gas imports click worldnews