World
China makes millions of dollars selling liquefied natural gas from the US to Europe
4 October 2022, 17:48
Citing data from sea transportation portals and three industry sources, the Wall Street Journal claimed that Chinese companies are sending tankers of American liquefied natural gas to Europe at a significant profit, helping countries replenish supplies ahead of winter.
According to them, due to reduced demand for gas in China, local companies that have signed long-term contracts with the United States to purchase LNG are selling excess raw materials, making hundreds of millions of dollars on each such supply. In the first eight months of this year, only 19 LNG ships docked in China's ports, compared with 133 boats in the same period last year, meaning most were diverted to European countries, as well as Japan and South Korea.
