EU turns to China for surplus LNG

The bloc has been searching for alternative energy sources amid dwindling supplies from Russia EU countries have been increasingly boosting storages with surplus Chinese liquefied natural gas (LNG) purchased in the spot market, the Financial Times reported on Monday. According to the article, China, the globe’s largest LNG buyer, has been reselling some of its excess volumes in the international market. The surplus is attributable to weak domestic demand as Covid-19 restrictions linger on. As the EU struggles to secure energy supplies ahead of the heating season and amid the drop in gas deliveries from Russia, it

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