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Natural Gas Market Is Hurtling Toward Historic Winter Shortages

  • Europe plans to cut imports of piped Russian gas by two-thirds
  • China demand seen rebounding later in year after virus curbs

The liquefied natural gas market is hurtling toward a potentially historic shortage this winter as the world rushes to secure the super-chilled fuel.

Europe’s plan to cut imports of piped Russian gas by two-thirds by the end of the year and replace it with LNG from the US and Africa is sharply intensifying competition for the power-plant and heating fuel. There’s also an expectation that China’s battle with Covid-19 will be winding down later in 2022, which should stoke industrial demand from Asia’s biggest economy.