Asia’s imports of liquefied natural gas flatlined in November, putting the top-buying region of the super-chilled fuel on track to record its first annual decline in three years.
Much of the blame for the soft outcome can be laid at the door of China, which may lose its status as the world’s top LNG importer to previous champion Japan.
While China has increased output of domestic natural gas and imports via pipeline from central Asia and Russia, elevated spot prices for LNG that have persisted for much of the year are likely the largest factor in the drop in imports.
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