China Regains LNG Buyer’s Crown as Rivals Brace for More Growth
- Imports could nearly double by the end of the decade
- Gas is still just a small portion of China’s energy mix
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China has regained the title of world’s biggest buyer of liquefied natural gas, as a further rebound in deliveries threatens to tighten supply of the heating and power plant fuel.
LNG shipments to China rose 12% last year to nearly 71 million tons, according to ship-tracking data compiled by Bloomberg. High prices and virus restrictions had significantly cut demand in 2022, which helped free up LNG shipments to gas hungry nations elsewhere.