China's Falling LNG Imports are a Boon for Europe

Europe’s gas storage levels this week reached an uncomfortably low level of some 34% full. Germany’s alone has dropped to 29%. Yet LNG imports are about to pick up and, for a change, prices might not surge—thanks to China. Earlier this month, Kpler data showed that China’s imports of liquefied natural gas had slumped to the lowest level in five years. At 4.5 million tons in total, these imports reflected a milder February, ample gas inventories that China has been building conscientiously ever since its 2017 gas crunch,…