China buys Norway LNG cargo as spot deals rise ahead of winter
Published by Will Owen,
Editor
LNG Industry,
According to Reuters, China has bought a rare cargo of LNG from Norway, the latest sign that the country is rushing to increase spot purchases to safeguard fuel supplies ahead of the coming winter.
It is the first LNG cargo China has bought from Norway since December last year and one of only six in the past three and a half years.
While it represents only a small fraction of China’s annual import, this shipment is reminiscent of Beijing’s growing need as it continues to wage war on the smog that cover the northern provinces of the country.
This winter China will use natural gas to heat millions of homes for the first time, in an attempt to wean the nation off coal.
This effort will add an estimated 10 billion m3 to China’s gas demand. This represents approximately 5% of the nation’s consumption last year and is equal to Vietnam’s annual use.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/12102017/china-buys-norway-lng-cargo-as-spot-deals-rise-ahead-of-winter/
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