China thought about the resumption of the purchases of liquefied natural gas (LNG), hoping that the weakening of covid restrictions will raise the economy and increase the demand for fuel. It is reported by Bloomberg.
earlier Shanghai decided to weaken strict measures to combat pandemia, so Chinese importers began to be interested in the possibility of purchasing LNG and want to resume deliveries in August. However, in the northern part of the country there are still outbreaks of the virus. Traiders expect that gas demand will remain low by the end of summer.
Covid restrictions introduced in March entailed expenses for the Shanghai economy. Import of LNG into China fell by almost 20 percent of the first four months of this year due to the policy of zero tolerance for the Covid-19, as well as due to high spot prices abroad.