China is likely to import less LNG this year than assumed.
(Photo: Reuters)
Beijing, Dusseldorf China is probably buying less liquefied natural gas (LNG) on the world market this year than feared. This is shown by data from the analysis company ICIS, which is exclusively available to the Handelsblatt. Accordingly, the People’s Republic will import around 73 million tons of liquefied natural gas in 2023. In 2021, the year before the energy crisis, it was 79 million tons.
LNG (Liquefied Natural Gas) is natural gas that is not delivered in gaseous form by pipeline, but is liquefied so that ships can transport it. Since Russia stopped delivering pipeline gas to Europe, countries like Germany have been urgently dependent on LNG imports from countries like the USA and Qatar.
The forecast for China is crucial for the coming winter. Because the huge nation competes with Europe for the LNG quantities available worldwide. Whether Germany is again faced with high energy prices and fears about the gas supply also depends on the LNG demand in the People’s Republic.
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