China Cold Snap Risks Further Boosting Winter LNG Purchases
A citizen sweeps snow on the street in Shandong Province on Jan. 11.
Photographer: Costfoto/NurPhoto/Getty Images
A forecast for frigid weather in Northeast China threatens to push liquefied natural gas prices higher, as the falling temperatures coincide with a cold spell in Europe — home to rival buyers.
Temperatures in parts of Northeast China seen at 6C below average this week, and the anomalously cold conditions will spread throughout much of the country next week, according to the European Centre for Medium-Range Weather Forecasts. The Korean Peninsula and Japan are also set to be hit by a cold wave.