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Chinese state-owned energy giants have been recently told by authorities to stop reselling LNG cargoes to gas-starved Europe, in what could be a blow to the European hopes of continuous high inflows of LNG as the winter approaches.  In recent months, Chinese LNG importers have been selling their excess inventories to Europe and reaping big profits from the sales because of lackluster demand in China due to incessant snap city-wide Covid lockdowns and a slowdown in economic growth.  Now, the National Development and Reform Commission (NDRC), China’s top planning body, has told the country’s state-held LNG importers that they should stop reselling LNG cargoes and keep them to ensure Chinese gas supply this winter.

China To Stop Reselling LNG To Europe

Chinese state-owned energy giants have been recently told by authorities to stop reselling LNG cargoes to gas-starved Europe, in what could be a blow to the European hopes of continuous high inflows of LNG as the winter approaches.  In recent months, Chinese LNG importers have been selling their excess inventories to Europe and reaping big profits from the sales because of lackluster demand in China due to incessant snap city-wide Covid lockdowns and a slowdown in economic growth.  Now, the National Development and Reform Commission (NDRC), China’s top planning body, has told the country’s state-held LNG importers that they should stop reselling LNG cargoes and keep them to ensure Chinese gas supply this winter.

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