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WSJ: Shell Sees Coronavirus Eroding Chinese Natural Gas Demand

Energy giant said it is redirecting shipments and looking for new buyers for LNG that was previously allotted to China

Royal Dutch Shell PLC, the global leader in liquefied natural gas sales, said Thursday that coronavirus was hurting demand for the supercooled fuel and prompting it to reschedule or locate new buyers for cargoes previously allocated to the Chinese market.

The global LNG market is more balanced after a four-year wave of new supply, the energy giant said, even with coronavirus crimping demand and sending prices to record lows since the outbreak began.

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