China is hoovering up liquefied natural gas (LNG) cargoes worldwide, pushing spot prices for the fuel above those for oil-indexed cargoes, as energy providers scramble to avoid a looming winter supply crunch. China has moved millions of households from burning dirty coal to natural gas this year, pushing up import demand amid an already tightening overall Asian market. Most Asian LNG supplies are delivered under long-term contracts with prices linked to crude oil. But with the upcoming winter heating season, Chinese utilities have turned to the spot market in desperation to cover themselves in order to meet surging demand, chartering tankers from as far away as Norway. “We expect (China’s national oil and gas majors) CNOOC, PetroChina, […]