Private Chinese companies will emerge as major LNG buyers over the next few years, benefiting from sustained low spot prices and strong gas demand driven by coal-to-gas switching, experts heard at a conference last week.
The trend will be fostered by the growing popularity of so-called ‘direct supply’ of gas to industrial users and the use of truck-transported LNG to form virtual pipelines, Chen Weidong, former chief energy researcher for state-owned China National Offshore Oil Corp. (CNOOC), said at the annual China Gas Market Summit Forum in Wuxi, organised by Beijing-based JLC Information.
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