China Petroleum & Chemical Corporation or Sinopec is expected to review the terms of a $16-billion liquefied natural gas ("LNG") deal with Cheniere Energy, Inc. ( LNG - Free Report ), per Reuters. The drop in LNG prices is expected to have triggered the review of the supply deal. Notably, while China is set to become the biggest LNG importer by the end of the decade, the United States is likely to be the largest exporter within 2025, ahead of Qatar and Australia. This makes the world's two biggest economies a perfect fit. While China is expected to import $18.5 billion worth of U.S. energy products this year, followed by $33.9 billion imports in 2021, the LNG deal with Cheniere will likely play a huge part in the phase-1 trade agreement. Reviewing the potential 20-year LNG contract can delay the sign-off process of the deal, which could help China meet ambitious targets.