Around the world, analysts and traders are grappling with the biggest shakeup in the 60-year history of liquefied natural gas: The emergence of two new superpowers, the U.S. and China, who are bringing more uncertainty and price fluctuations to a once-staid commodity market.
China became the biggest importer of liquefied natural gas in December, overtaking Japan for the first time since it pioneered the industry in the 1970s. Meanwhile, the U.S. is set to become the world’s top exporter of the fossil fuel on an annual basis later this year, beating out cornerstone suppliers Qatar and Australia.
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