CNOOC Ltd, China’s state-owned oil and gas major, sees potential for future energy cooperation between China and the United States, CEO Huang Yongzhang said on Thursday. He said the company would consider investments alongside U.S. partners where it believes value can be created for shareholders. The United States is the world’s largest producer and exporter of LNG (liquefied natural gas), while China is the largest LNG importer, Huang said. China previously bought U.S. oil and gas, but Beijing imposed tariffs on those products during last year’s trade war. Although relations have improved, the tariffs remain and bilateral energy trade is mostly frozen. U.S. officials raised possible energy deals, including increased Chinese purchases of LNG, during President Donald Trump’s visit to Beijing in May, but no deal has emerged. CNOOC and other Chinese energy companies hold long-term supply agreements with U.S. LNG producers and have been reselling cargoes rather than paying the tariffs.