China Halts LNG Sales to Foreign Buyers

China has asked its state-owned gas importers to stop reselling liquefied natural gas (LNG) to buyers in Europe and Asia as it seeks to ensure its own supply for the winter season, Bloomberg News reported. China’s National Development and Reform Commission asked PetroChina, Sinopec and Cnooc to keep winter cargoes for domestic use, the report said, citing people familiar with the matter.

Meanwhile, China will greatly increase domestic energy supply capacity and its reserve capacity for key commodities, government officials said on Monday, reiterating a policy of ensuring supplies and stabilizing prices of raw materials. Beijing will enhance a “diversified domestic supply base” centered on coal while speeding development of domestic oil and gas resources. Xi said China would steadily implement its carbon peak and neutrality targets and in accordance with its energy resources.