*China’s gas imports for the first quarter of 2025 slumped to 40.6bcm after reaching a record high 45.3bcm a year earlier. The ax fell on LNG, with volumes down 5.7bcm (21%) year-on-year, while cheaper pipeline imports increased by 0.9bcm (see table). Firm European demand pushed global spot LNG prices up at the beginning of the year causing Asian buyers like China to avoid incremental buying (MEES, 4 April).
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