Business Insider | Oct. 17, 2022
Beijing has reportedly told state-owned natural gas importers to halt resales of cargoes to buyers in Europe and Asia, to make sure China has enough supply for domestic needs this winter.
The National Development and Reform Commission has spoken to Chinese energy giants PetroChina, Sinopec and CNOOC to ask them to stop the shipments of liquefied natural gas, Bloomberg reported Monday, citing people with knowledge of the matter.
An economic slowdown in China after Beijing imposed a strict zero-COVID policy dampened local demand for gas, leaving its importers with a surplus of natural gas that they resold to Europe and elsewhere.
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