Russia’s reduction in natural gas supply to Europe is heating up the global liquefied petroleum gas (LNG) war, which could cause price increases and a lack of supply.
China – the world’s largest importer of LNG last year – remained out of the spot market this year, as anti-Covid-19 lockdowns caused fuel demand to drop.
If economic activity in China recovers, the situation could change rapidly, causing the amount of LNG available to Europe to decrease even more, warns Samantha Dart, director of natural gas research at Goldman Sachs Group.
