China’s LNG demand will grow by 11mn t this year, Wood Mackenzie forecasts
Asian LNG market embraces short-term contracts
Buyers are becoming less keen on being locked in for the long term amid a rapidly evolving market and rising demand
Asian LNG buyers—including a new crop of importers from China—are increasingly demanding shorter-term contracts that span just several years, but there is still a time and place for long-term contracting in the market despite increased spot liquidity, executives said at a June industry conference in Shanghai. “In the earliest stage of the LNG market, we saw more 20-25-year long-term contracts, but now requirements have changed, and some are saying they prefer three-to-five-year contracts,” Ma Shenyuan, a senior adviser to US LNG project developer Tellurian, told the China LNG & Gas International Exhibition & Summit. “Of course, there are still some Chinese buyers requesting five-to-t
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
