The price of liquefied natural gas is expected to fluctuate in line with seasonal demand in China, with the big Asian buyer increasingly playing a role in determining the value of the supercooled fuel, according to a leading energy trader.
“We expect weaker summers and stronger winters,” said Pablo Escobar, head of global LNG at Vitol, the largest independent energy trader. “The seasonality will be more accentuated.”
China’s sudden shift from coal to gas for power generation and heating late last year created a domestic shortage in supplies, surprising LNG market players and causing a spike in the price of spot cargoes in the winter.
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