Aim to secure his own supplies
China asked the utility companies natural gas importers to stop reselling liquefied natural gas (LNG) to buyers in Europe and Asia as it seeks to secure supplies for itself for the winter season, the news agency reported today Bloomberg.
The Chinese National Development and Reform Commission asked the PetroChina Co, Sinopec and Cnooc Ltd to keep the winter loads for use inside the country, as the report states citing sources familiar with the matter.
The commission could not be reached for comment, while PetroChina, Sinopec and Cnooc did not immediately respond to Reuters requests for comment.
The news comes as China’s LNG importers seek to stay out of the spot delivery market this winter with demand falling to its lowest level since 2002, meaning the world’s largest LNG importer is likely to avoid competing crisis-hit Europe for supplies.
Today, Chinese authorities announced that the country will greatly increase its capacity to supply energy products and basic goods by reiterating a policy of stabilizing commodity prices and securing supplies.
Read the News today and get the latest news.
Follow Skai.gr on Google News and be the first to know all the news.
I am currently a news writer for News Bulletin247 where I mostly cover sports news. I have always been interested in writing and it is something I am very passionate about. In my spare time, I enjoy reading and spending time with my family and friends.
