China's LNG imports to fall 18% in August as Asian spot prices hit $21 per MMBtu

August 31, 2026 at 05:30 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

China's liquefied natural gas imports are set to drop 18% year-on-year in August to about 5.2 million tons, according to Kpler estimates cited by Bloomberg. The decline follows three months of growth as Asian spot LNG prices averaged $21 per MMBtu, nearly double last August's $12. The price surge has curbed demand from price-sensitive industrial buyers.

Key Facts

China's LNG imports are projected to fall 18% year-on-year in August to about 5.2 million tons, according to Kpler estimates cited by Bloomberg.
Asian spot LNG prices averaged $21 per MMBtu in August 2026, compared with $12 per MMBtu in August 2025.
Spot LNG prices in Asia hit a five-month high of $23.388 per MMBtu last week.
QatarEnergy has extended force majeure on LNG deliveries through October-early November, according to reports from Friday.
China's LNG imports had increased for two consecutive months through June, rebounding from an eight-year low in April.

Import Reversal

China's LNG imports are on track to decline 18% in August from a year earlier, ending a three-month streak of year-on-year growth. The drop to about 5.2 million tons is based on vessel-tracking data compiled by Bloomberg and Kpler estimates. Chinese buyers had increased imports for two straight months through June, recovering from an eight-year low in April. High spot prices are now causing demand destruction among price-sensitive industrial consumers.

Price Surge

The average spot LNG price for delivery into Asia nearly doubled in August from a year earlier, reaching $21 per MMBtu. Last week, spot LNG prices in Asia hit a five-month high of $23.388 per MMBtu. Prices have hovered at four-year highs as supply tightened following the absence of Qatari term deliveries since the Iran war began. Asian utilities have been outbidding European buyers for LNG this summer amid a shrinking pool of Middle East cargoes.

Supply Constraints

QatarEnergy has extended force majeure on LNG deliveries to customers through October-early November, according to reports from Friday. The extension raised concerns about global LNG supply ahead of winter. Other producers have been unable to fully offset the loss of Middle East cargoes with increased deliveries.