LNG deals ramp up amid green transition

SOEs seal long-term contracts for key fuel, ensuring supply despite volatile market

China has been stepping up its natural gas purchases as well as facilitating construction in recent years, as part of efforts to ensure sufficient energy supply amid its green transition, said industry experts.

The country is looking to sign more deals to avoid future shortages and reduce dependence on spot deliveries, with 33 percent of global long-term liquefied natural gas volumes going to China, according to Bloomberg's calculations.

China is on track to become the top importer of LNG worldwide in 2023, as Chinese companies agree to buy more on a long-term basis than any single nation for the third straight year, data compiled by Bloomberg reveal.