The World’s Top LNG Buyers Are Already Preparing for Next Winter
- China’s Sinopec bought at least 35 cargoes through February
- Other buyers across North Asia considering following suit
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North Asia’s liquefied natural gas importers are making earlier-than-usual moves to stock up ahead of the winter, after they were caught flat-footed this year by a sudden cold blast that sent spot rates skyrocketing to a record.
China’s Sinopec purchased at least 35 cargoes for delivery between June and February through a tender that closed earlier this week, in part to prepare for the winter when demand for the fuel peaks, according to traders. Other buyers in China, Japan and South Korea are considering following suit, said the traders, who requested anonymity to discuss private details.