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
11 February 2026
Panellists from three LNG buyers at LNG2026 in Doha outlined their evolving procurement strategies as they navigate heightened market volatility
11 February 2026
North African producer plans to boost output by early 2030, with Europe its number one priority as export destination
11 February 2026
Maritime leaders at LNG2026 warned of the dangers of over-regulation on competitiveness, sustainability and innovation
10 February 2026
The country has opened bidding on 50 blocks in a new licensing round but will face competition for attention and will need to address concerns about security and legislation
