China's liquefied natural (LNG) gas importers are starting up or expanding trading desks in London and Singapore to better manage their growing and diversified supply portfolios in an increasingly volatile global market.
Chinese gas importers have also boosted long-term LNG contracts with Qatar and U.S. suppliers by nearly 50% since late 2022 to more than 40 million metric tons per year , with plans to add more volumes from those two countries, as well as from Oman, Canada and Mozambique, traders and analysts said.
China vies with Japan to be the world's largest LNG importer, although it's not clear how much surplus or other volumes Chinese companies might have available to trade. "Supply security is still at the heart of our business activities. Trading capability is one of the enablers ... to help us better deal with market swings," Zhang said.
"I could see China becoming a seasonal seller to places like Southeast Asia, South Korea and Japan, as well as into Europe," said Jason Feer, head of business intelligence at Poten & Partners.
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