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China LNG imports likely fall in August as prices curb demand
Deliveries are estimated at about 5.2 million tons in August, 18.0% lower than a year earlier, as Asian LNG prices averaged roughly $21 per mmBtu versus $12 last August.
China is set to import fewer cargoes of liquefied natural gas in August, ship tracking data reviewed by Kpler indicates, with higher LNG prices linked to the war in the Middle East weighing on consumption.
Deliveries are estimated at about 5.2 million tons in August, 18.0% below the same month last year. Kpler also pointed to a shift from earlier months, when year-on-year import gains were supported by efforts to refill inventories for peak summer demand.
Kpler said average Asian LNG prices were around $21 per million British thermal units this month, compared with $12/mmbtu in August 2025. Nelson Xiong, senior LNG analyst at Kpler, attributed the drop to significant demand destruction among price-sensitive industrial users.
The report tied the cost shock to disrupted supply expectations, with spot prices reaching a five-month high earlier in the month as the US-Iran conflict clouded prospects for flows through the Strait of Hormuz, where visible LNG traffic has effectively halted for the past two months. It also noted China has sought alternative volumes, including from Russia and Malaysia, and that reduced Chinese demand could ease some pressure on European importers ahead of winter.
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