LNG storage tanks in Tianjin
China steps back from fresh LNG contracts
The move could have major ramifications for the LNG sector
Discussion of the outlook for LNG demand growth almost always begins with China and ends with just about everyone else. China already accounts for 20% of global LNG buying and surpassed Japan in 2023 as the largest buyer. These details highlight why it is so important that China is not signing long-term LNG contracts in 2024. China has signed new contracts amounting to less than 2mt/yr so far this year, despite a wide range of offers coming from LNG producers and portfolio players being faced with significant amounts of unsigned volumes. Why this intermission is occurring is not totally clear and does not necessarily suggest China is done buying LNG for the foreseeable future. For well
Also in this section
22 April 2025
Saudi Arabia is growing as a geopolitical and diplomatic force amid an increasingly fractured world
22 April 2025
Modest downward revisions to 2025 supply belie the longer-term damage to E&P from a weaker oil market
16 April 2025
Israel continues to strike new oil and gas concession agreements and gas exports continue to rise, but an overreliance on Egypt remains the big concern
15 April 2025
Loss of US shipments of key petrochemical feedstock could see Beijing look to Tehran with tariffs set to upend global LPG flows
