Europe not only avoided a shortage of gas in 2022 thanks to China, but will be able to pass the year 2023 without much difficulty, as demand from China for fuel will not reach a record level, Bloomberg reported.

Europe will avoid gas shortages in 2023 thanks to China, as the country abruptly and indiscriminately lifted coronavirus restrictions. Because of this, demand for fuel will not be able to recover to record levels in 2021, as there remains a risk of a return to severe restrictions amid another rise in disease, the publication noted.

According to the agency, China's economy will gradually recover, but there are some alternatives to LNG supplies in the form of pipeline gas for the country's industry.

The authors of the article believe that the demand for LNG will grow even faster this year. The situation might change drastically if a sudden cold snap starts in Europe or Asia. However the growth of demand from China is rather limited at the moment.