China’s Weak Winter LNG Demand Provides Relief for Rival Buyers
- Gas imports slump after spot shipments became too pricey
- Some Chinese buyers have moved to reselling some supply
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A rapid increase in liquefied natural gas prices has prompted China — the world’s biggest buyer — to cut back purchases and even resell some supply, providing relief to rival importers.
The 30-day moving average of Chinese LNG imports has slumped over the last few weeks, and is now 12% below the four-year average for this time of year, according to ship-tracking data compiled by Bloomberg. Imports had been above the seasonal norm for most of the year.