LNG Imports Rebound 3-10% in China Amid US-Qatar Supply Wave (2026)

China’s LNG imports are expected to rebound 3-10% in 2026, reaching 70.5–75.5 million metric tons, supported by a supply wave from the U.S. and Qatar and depressed spot prices. This follows a 10% drop in 2025 as domestic gas production expanded and pipeline imports strengthened, offsetting LNG demand. While milder winter conditions and weaker industrial demand earlier in 2025 depressed imports, recent purchases suggest a recovery. Analysts note LNG will remain a supplement to cheaper domestic and pipeline gas, not expected to reach 2024 levels.