LNG

The lucrative practice of Chinese players to resell US cargoes to Europe – and then restock with discounted Russian gas – has come to an abrupt end. For months, Sinopec, CNOOC and PetroChina were cashing in on double-digit price premiums of the Dutch TTF benchmark for gas in Europe over the JKM benchmark for LNG delivered to Asia; but a small supply deficit now prompted the government in Beijing to ban cargo resales and shore up supplies for the winter; our Markets Editor Anja Karl has more. 

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