China is experiencing a natural gas shopping spree, and officials are focusing on importers continuing to make deals even after the global energy crisis subsides.
In turn, the government continues to support the efforts of state-owned buyers to sign long-term contracts and even invest in export facilities, in order to enhance energy security during the middle of the century, “Bloomberg quoted people who held meetings with policy makers, seen by Al Arabiya.Net”.
China is on track to become the world’s largest importer of liquefied natural gas in 2023.
Long-term LNG contracts are attractive because shipments are promised at a relatively fixed price compared to the spot market, where gas rose to an unprecedented level after the Russian invasion of Ukraine.
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