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Market Chatter: China Sees Rebound in LNG Imports in May

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China's liquefied natural gas imports rose to 4.9 million tons in May, marking a marginal year-on-year increase. The rebound offers a stark contrast to April's imports, which hit an eight-year low, with the country raising purchases to satisfy summer demand, Bloomberg News reported Tuesday.

The Iran war has choked Gulf shipments, which typically supply one-third of China's needs. Qatar's drop was offset by increases from Canada, Malaysia, Oman and Russia, according to the report.

State-owned CNOOC (SHA:600938, HKG:0883) and Zhejiang Energy have purchased cargoes for June and July delivery amid falling inventories and expected hot summer weather, Bloomberg wrote.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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