China Tells Gas Importers to Bear High Cost to Fix Energy Crisis
- Smaller firms struggle to boost LNG supply amid steep prices
- Asian LNG spot prices surge to record high amid supply crunch
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China is urging its liquefied natural gas importers to procure more supply to fix its energy crisis, while providing little financial support for firms paying record-high rates for the super-chilled fuel.
The government isn’t providing enough subsidies for recent purchases, making it difficult for the nation’s smaller gas distributors to meet the request to secure enough fuel before winter, according to traders with knowledge of the matter. While some firms are avoiding buying for now, they may ultimately have to bow to Beijing’s wishes.