Jiangsu is China’s biggest provincial gas market with consumption growing by 6.3pc in 2019 to 28.7bn m³

"Due to the low LNG prices in 2019, and into 2020 amid a global LNG supply surplus and uncertainties in the trade environment, some of the proposed projects are seeing slower progress towards FID," the report said. "With the additional effect of COVID-19 on stock markets, many companies, including those in the energy industry, are struggling financially, further delaying progress of projects."

Four LNG tankers are currently enroute to China after loading cargoes last month in the United States,

Pakistan has long-term contracts for the import of eight LNG cargoes per month on a take-or-pay basis, and out of these five are from Qatar, a government spokesman said, adding that the Qatari volumes had been reduced to three cargoes for April through mutual discussion, without invoking any force majeure.

The average LNG price for May delivery into northeast Asia LNG-AS was estimated at $3.50 per million British thermal units (mmBtu), up 20 cents from the previous week,

the LNG industry was already under pressure from low international prices and weaker-than-expected demand in key end-user markets.

Asian LNG prices hit historic lows in February, the benchmark price for spot-traded LNG in Northeast Asia, falling to $2.71/MMBtu on underlying weak Asian demand compounded by mild temperatures and the coronavirus.

In late February, the Spanish energy companies Repsol SA and Endesa SA rejected a hefty deal on the purchase of 200 million cubic metres of LNG from the biggest US liquefied natural gas exporter Cheniere Energy Inc.

"Last year was the best year for [final investment decisions] for the US LNG industry ever,"

In January 2020 India commissioned its sixth liquefied natural gas (LNG) import terminal, Mundra LNG