LNG storage containers at Yangshan port, China
Letter from China: Gas boom comes with an expiry date
China’s gas market is poised for rapid expansion, but decarbonisation efforts may end the party sooner than previously expected
Business appeared to be booming—given China’s trajectory towards surpassing Japan as the world’s largest importer this year—for LNG project developers at a recent industry event in Shanghai as they lined up to tout their developments to prospective buyers. In virtual attendance were senior executives from Russia’s Novatek, Malaysian NOC Petronas, and Tellurian and Venture Global LNG from the US, some of whom dialled in after midnight from home to speak on panels. Their eagerness to participate underlines the enormous opportunity on offer: with its LNG demand bolstered by clear policy support and strong gas market fundamentals, China’s spot at the LNG importing summit looks assured for years
Also in this section
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
