“When China changes, everything changes… The new China energy policies mean a new phase for the global energy markets”.

 —-  Faith Birol, Executive Director of the International Energy Agency

Birol notes that China’s new “clean skies” policy to remove smog in its cities has led to a decrease in coal production in the country and a doubling of liquefied natural gas prices (LNG) in the Asia-Pacific region as the China imports more. China in in the process of substituting away from coal for its heat and electricity and moving to natural gas, nuclear, wind and solar.

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