Gas Imports Surge As China Sees Coldest Winter In Decades

Natural gas imports to China jumped by 17.4 percent on the year in the first two months of the year to 28.68 billion cubic meters thanks to the coldest winter in decades, according to Platts data. The harsh winter in Asia drove a huge spike in demand for natural gas in the region, which led to a surge in spot market LNG prices.

Now, this demand is retreating, and prices are down to more normal levels. China is among the world’s top natural gas importers, along with Japan and South Korea, and therefore a prime target for gas exporters. PetroChina,…