China’s Taking Control of LNG as Global Demand Booms
- World will be reliant on nation to resell cargoes in 2023
- Some 15% of new long-term LNG contracts were signed by China
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A rush by China to sign new long-term liquefied natural gas deals promises to give the nation even more control over the global market at a time when competition for cargoes is booming.
Chinese companies are sealing the most LNG purchase agreements of any nation and increasingly are becoming the sector’s key import intermediary. The Chinese buyers are reselling many of the cargoes to the highest bidders in Europe and Asia, effectively taking charge over a hefty chunk of supply.