China’s LNG imports are poised to drop about 15% to 65 million tonnes this year, potentially losing its position as the world’s largest buyer to Japan, according to BloombergNEF. Industrial weakness across steel, glass, and cement, combined with high global LNG prices and China’s energy transition, continues to suppress gas demand. Gas-fired power generation has also been displaced by cheaper coal and rapidly growing renewables, pushing LNG plant utilisation to multi-year lows. While new long-term LNG contracts start next year, Chinese buyers may divert surplus cargoes to higher-priced markets such as Europe. China is expanding LNG terminal capacity through 2030, but actual use will hinge on whether demand recovers and prices ease.
