Global energy researchers are forecasting China, the world’s largest LNG importer, is on track to record the largest year-to-year drop in volumes since it started importing the super-chilled gas.

Citing unprecedented liquefied natural gas market volatility and inflationary pressure, Wood Mackenzie recently predicted China’s imports would drop 14% by the end of the year. That means China’s LNG imports could fall to 69 million tons (Mt) for the year, according to Wood Mackenzie analysts.

China surpassed Japan at the end of last year to become the world’s top importer of LNG. Months later, multiple region-wide Covid-19 outbreaks, energy volatility and inflation have contributed to a slowdown of Chinese imports.

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