When China put its name in the hat to host the 2008 Olympic games, the country had seven years to meet the WHO’s environmental standards and drastically curb its “airpocalpse.” The country invested billions to cut industrial and vehicle emissions; moved entire factories away from event venues; and opened six new subway lines to further reduce pollution. But once the games were complete and the standards lifted, China reverted to its old ways reaching the most toxic levels of air quality between 2012-2013. Then it entered the ring again. Reese Energy Consulting today is following news out of China, which spent another seven years to re-address its air and water quality issues in time for the 2021-2022 games. Amid international pressure for a “green” Olympics, the country’s efforts to clean up its act are largely dependent on more natural gas for electricity, vehicles, and public transportation. With the winter games ahead in February during peak winter season and China’s increasing demand for gas, LNG prices have already begun to soar with the latest spot prices up nearly four times year on year at $21.185/MMBTU. Cue the snowboards.
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