China’s liquefied natural gas imports are expected to fall to about 3.5 million
tons in April, the lowest monthly level in eight years, according to Kpler
ship-tracking data. That would be about 30% lower year-on-year and the weakest
since April 2018 if confirmed by official data. The drop is linked to higher LNG
prices driven by the Middle East war, with Asian spot prices about 70% above
pre-war levels. China also recorded no LNG re-exports in April, compared with
more than 700,000 tons in March. The conflict has disrupted global LNG supply,
including shutdowns at Qatar’s export facilities and near-zero flows through the
Strait of Hormuz, while Chinese buyers have increasingly shifted to cheaper
piped gas.
