China’s LNG Buying Spree Tightens Global Gas Market
China raised its liquefied natural gas imports for a second month in a row in June as the world’s top LNG buyer prepares for peak summer power demand. Chinese imports of LNG jumped by 8.3% from a year earlier to 5.68 million tons in June, according to official customs data released on Monday. This w
Source: OilPrice.com
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DW NOTE
China is buying LNG into a market already strangled by the Hormuz blockade and two active wars. Oil is up 15% in a week because supply lines through the Gulf remain disrupted, and now Beijing is layering demand for gas on top of that. Every cargo China locks up is one Europe can't bid for when winter arrives.