I don’t buy the “China will eat it all up” story quite yet. Yes, China blew us all away with those last couple of years. Nobody expected China’s gas demand to soar as much as it did. But I am suspicious of linear developments. China’s economy starts to show serious cracks. And the leadership has shown time and again that economic growth trumps all else. 4 times what it imports now would be gargantuan. Does anyone still remember LNG import projections for the US made in 2006? That bubble exploded as well. And anyone questioning this development was equally looked at as if horns were growing out of their heads.
China, the world’s top importer of natural gas and second-largest buyer of liquified natural gas (LNG), just announced plans to increase its intake capacity of the seaborne fuel four-fold over the next two decades.