High LNG prices have made the commodity significantly less popular in China. Coal-supportive policies are making coal-fired power more attractive. Lower power demand as a result of China’s strict covid policies has resulted in less appetite for imported gas. China became the world’s largest importer of liquefied natural gas last year. But in a completely different energy market this year, China will likely cede the title to Japan, as Chinese imports of LNG are set for the largest-ever annual plunge since China started importing the super-chilled fuel in 2006. Weakening gas demand in China, increased domestic production of natural gas, policies to support coal as the “energy security” tool, and of course, the much higher spot LNG prices this year, have all combined to reduce Chinese purchases of LNG so far in 2022, consultants Wood Mackenzie said in an analysis this week. Wood Mackenzie expects China’s LNG imports to […]