Source: Natural Gas World
Liquefied natural gas (LNG) suppliers are placing their wagers on China's enduring demand for super-chilled fuel, even in light of last year's economic downturn. China solidified multi-year supply agreements, with LNG imports reaching nearly 79 million metric tonnes in 2021, surpassing Japan as the world's leading importer. However, stringent COVID measures subdued spot demand in 2022, causing shipments to decrease to 63 million tonnes.
Andrew Barry, Vice President for Global LNG Marketing at ExxonMobil, expressed confidence in China's potential, stating that the country is poised for robust, long-term growth. Predictions suggest China could possess over 200 million tonnes of LNG import capacity by 2030.