China’s Smaller LNG Companies Are Buying Again After Price Drop

(Bloomberg) — One of China’s smaller liquefied natural gas importers procured a shipment from the spot market, heralding a return by the nation’s price-sensitive buyers after the energy crisis halted purchases for about a year and a half.

Beijing Gas bought a shipment for April delivery to China, according to traders with knowledge of the matter. This is the first purchase by a so-called Chinese second-tier importer — businesses unaffiliated with the state-owned giants that handle most of the country’s trade — since summer 2021 when the fuel became too costly.