(MENAFN- AsiaNet News)

• US ready to increase energy exports to China if it reduces import of Russian energy, says Energy Secretary Chris Wright
• Wright is expected to travel to Asia in the next few weeks
• China agreed to begin the process of purchasing American energy, Trump said in a Truth Social Post

 

The United States is ready to boost exports of oil and natural gas to China if Beijing reduces its reliance on Russian energy, according to U.S. Energy Secretary Chris Wright.

“There's so much space for mutually beneficial deals between the U.S. and China,” Wright told Bloomberg Television, emphasising that the U.S. is the world's largest energy exporter while China remains its biggest importer.

Trump's Asia Visit To Boost Energy Ties?

Wright is expected to travel to Asia within the next few weeks, following President Donald Trump's recent visit to the region. During his trip, Trump said he had reached agreements with Chinese President Xi Jinping and South Korean President Lee Jae Myung to have both nations buy more U.S. energy. He also hinted at a“very large-scale” energy transaction involving Alaskan oil and gas, though specific details remain undisclosed.

“China also agreed that they will begin the process of purchasing American Energy. In fact, a very large scale transaction may take place concerning the purchase of Oil and Gas from the Great State of Alaska. Chris Wright, Doug Burgum, and our respective Energy teams will be meeting to see if such an Energy Deal can be worked out,” Trump said in a post on Truth Social earlier in the day.

Trump's mention of Alaska may revive the long-delayed $44 billion Alaska LNG project, which has struggled to secure long-term contracts.

China last imported U.S. crude oil in May and liquefied natural gas in February, according to customs data.

Beijing imposed 10%-15% tariffs on US energy products in February, making such purchases unviable. As a result, China has been reselling US-sourced LNG rather than using it domestically. The US accounted for only about 5% of China's LNG imports and 2% of its crude oil imports last year.

How Are The Markets Doing?

U.S. equities were in the red in premarket trade on Thursday.

The SPDR S & P 500 ETF (SPY) was down 0.51%, the SPDR Dow Jones Industrial Average ETF (DIA) dropped 0.47%, and the Nasdaq-100 tracking Invesco QQQ Trust (QQQ) declined 0.67%.

Retail sentiment around QQQ on Stocktwits remained 'bearish'. It was 'extremely bearish' last week.

QQQ's Sentiment Meter and Message Volumes at 09:20 a.m. ET on October 30, 2025 | Source: Stocktwits

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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