China’s Hunger for LNG Drives Prices Higher as It Cuts Back on Carbon

(Nikkei Asia) — Competition for limited supplies of liquid natural gas is intensifying as China and Europe rush to meet their growing needs, raising global prices to record levels.

The surge could spell another rough winter for Asian markets such as Japan, where power providers have been stocking up to avoid the shortages that drove up electricity prices last year. But they may still face exorbitant prices that risk hindering the economic recovery from the coronavirus pandemic.