Business

China is rerouting US liquefied natural gas to Europe at a big profit


SINGAPORE — The economic downturn in China, a Trump-era trade deal and Europe’s Desperate Hunt for natural gas is creating a headwind for some Chinese energy companies. The unusual alignment is helping Europe stock up for the winter.

With demand falling, Chinese companies that have signed long-term contracts to buy US liquefied natural gas are selling the excess gas and making hundreds of millions of dollars per shipment. Buyers include Europe, Japan and Korea. Only 19 LNG ships from the US called at Chinese ports in the first eight months of the year, compared with 133 in the same period last year.

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