China’s Electric Truck Boom Poses New Threat to Demand for LNG

China’s rapid adoption of electric trucks — which overtook gas-powered vehicle sales for the first time last year — is threatening a key source of demand for the country’s suppliers of the fossil fuel.

Sales of heavy-duty trucks powered by batteries and other new energy sources hit a record in December, helping lift the full-year figure nearly threefold to over 230,000 units, according to registrations tracked by CVNews, a local platform covering commercial vehicles. That pushed annual sales of electric trucks to 20% of China’s total, an acceleration that’s sounding alarm bells in the natural gas market.