Emily
Editor, Senior Moderator
https://www.msn.com/en-us/money/mar...reroute-us-lng-tankers-for-profit/ar-AA12ASwS
China Cashes In: Energy Companies Reroute US LNG Tankers For Profit
Robert Kuczmarski - Tuesday
Since late August, China's strict zero-covid policy led to a full or partial lockdown of more than 70 cities. As a result, the demand for energy has fallen.
What Happened: Shenzhen, one of the world's busiest container port cities, continues to experience lockdowns.
This has caused the production and manufacturing demand to remain in a slump for China. Chinese companies holding long-term contracts with U.S. liquified natural gas (LNG) are now selling excess energy imports for a profit, the Wall Street Journal reported.
South Korea, Japan and Europe are buying. The most recent shipment to Europe is believed to have generated between $110 million and $130 million for one shipment of LNG....
China Cashes In: Energy Companies Reroute US LNG Tankers For Profit
Robert Kuczmarski - Tuesday
Since late August, China's strict zero-covid policy led to a full or partial lockdown of more than 70 cities. As a result, the demand for energy has fallen.
What Happened: Shenzhen, one of the world's busiest container port cities, continues to experience lockdowns.
This has caused the production and manufacturing demand to remain in a slump for China. Chinese companies holding long-term contracts with U.S. liquified natural gas (LNG) are now selling excess energy imports for a profit, the Wall Street Journal reported.
South Korea, Japan and Europe are buying. The most recent shipment to Europe is believed to have generated between $110 million and $130 million for one shipment of LNG....