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China LNG Demand To Rebound In 2023


Chinese LNG demand is expected to recover in 2023 as the country loosens covid restrictions, according to analysts from Rystad Energy, Wood Mackenzie and ICIS.

  • Chinese LNG demand is estimated to rise to 70-72mn t in 2023, up by 9-14% from 2022 levels, according to analysts.
  • Imports are likely to fall short of record 2021 levels because of limited appetite amid lingering effects of the pandemic and consistent high price levels.
  • High prices would continue to suppress demand from the Chinese industrial and power sectors, both highly sensitive to energy costs, Wei Xiong, a senior analyst at Rystad Energy said.
  • Last months, China purchased four to six LNG shipments for delivery from February to December, intensifying global competition for the 2023/2024 winter period.
  • JKM-TTF Feb 23 down -1.1$/mmbtu at 8.01$/mmbtu

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