Sales of Chinese gas utilities surge, though LNG price spike squeezes profits

Monday, 08 February 2021

Chinese city gas operators have struggled to fulfil the recent spike in gas demand caused by a rebound in industrial activity and strong heating needs in an exceptionally cold winter. Fitch Rating says suppliers largely managed to cater to the demand spike which propelled up sales and profits, though the sharp rise in spot LNG prices has put pressure on dollar margins.

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