China’s return to LNG spot market could intensify global energy crunch
Tuesday, 31 January 2023
Lifting of China’s zero-Covid rules is expected to push up the country’s gas demand by up to 72 million tons in 2023, a 14 percent rise year-on-year which intensifies competition with European buyers. A CNOOC tender just closed, but high LNG prices and rising domestic gas production may keep China’s spot LNG purchasing activity well below 2021-levels.
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