China stops selling LNG abroad to accumulate reserves

The State Development and Reform Committee of China has reportedly requested that PetroChina Co., Sinopec, and Cnooc Ltd. store winter supplies for domestic use, according to the newspaper, referring to sources

Reuters contacted the committee, as well as PetroChina, Sinopec, and Cnooc for comments, but none of them responded.

Amid declining demand that has reached its lowest level since 2002, Chinese LNG importers have decided not to participate in the spot market this winter.

source: bloomberg.com, reuters.com