{"id":16902,"date":"2026-02-18T08:35:51","date_gmt":"2026-02-18T08:35:51","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=16902"},"modified":"2026-02-18T08:35:51","modified_gmt":"2026-02-18T08:35:51","slug":"china-isnt-importing-any-us-lng-but-its-still-in-the-game","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/16902\/","title":{"rendered":"China isn\u2019t importing any US LNG, but it\u2019s still in the game"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0China hasn\u2019t brought in a single cargo of US liquefied natural gas (LNG) for a full year now, but that doesn\u2019t mean it has completely walked away from the American supply.<\/p>\n

This month marks the anniversary of China\u2019s last direct import of US LNG, which took place in February 2025, right in the middle of a fresh escalation in the trade war between the world\u2019s two biggest economies.<\/p>\n

Despite the freeze on direct deliveries to Chinese ports, Chinese companies have carried on buying substantial volumes of US LNG under long-term contracts signed with American producers. Rather than shipping the super-chilled fuel back home, they have routinely redirected those cargoes \u2014 most often to Europe, where demand has been very strong in recent years.<\/p>\n

The situation neatly illustrates just how closely linked the US and Chinese energy systems still are, even as both Washington and Beijing push to reduce their economic dependence on each other amid broader geopolitical rivalry.<\/p>\n

It also shows how much more flexible and liquid the global LNG market has become, thanks in large part to the rapid growth of US export capacity. The United States overtook Qatar to become the world\u2019s biggest LNG exporter in 2023.<\/p>\n

Since 2018, major Chinese energy firms \u2014 among them PetroChina, CNOOC and Unipec \u2014 have signed close to 20 long-term LNG supply agreements with US developers such as Cheniere Energy, Venture Global and NextDecade. Together these contracts commit to around 25 million tonnes a year, with most running for 20 or 25 years and helping underpin the financing of multi-billion-dollar export projects along the US Gulf Coast.<\/p>\n

Last year the US shipped out nearly 110 million tonnes of LNG, representing more than a quarter of total global supply. China, still the world\u2019s largest LNG importer overall, took 4.3 million tonnes from the US in 2024 \u2014 roughly 5% of America\u2019s total exports that year, according to Kpler data.<\/p>\n

After the February 2025 tariffs \u2014 when the US imposed a 10% duty on Chinese goods and China hit back with a 15% levy on US LNG \u2014 direct imports stopped. Yet the long-term contracts have kept the commercial relationship alive.<\/p>\n

Most of these deals give buyers almost complete freedom to send cargoes anywhere in the world or to resell them to third parties (unlike many contracts with Qatar and other suppliers, which often include strict destination restrictions).<\/p>\n

In the 12 months to February 2026, China\u2019s five biggest buyers of US LNG \u2014 PetroChina, ENN Natural Gas, CNOOC, Sinochem and Sinopec \u2014 collectively lifted around 3.3 million tonnes from American terminals. The overwhelming majority of those volumes ended up in Europe.<\/p>\n

For instance, of the 27 cargoes PetroChina chartered since February 2025, 23 went to Europe, two to Brazil and two to Bangladesh. Every one of ENN\u2019s 10 cargoes in the same period was delivered to Europe.<\/p>\n

Many other cargoes were probably sold on to traders before even leaving the US.<\/p>\n

Meanwhile, China\u2019s overall LNG imports dropped 14% in 2025 to 67 million tonnes, reflecting weaker industrial demand, strong growth in renewables, rising domestic gas output and higher pipeline supplies from Russia.<\/p>\n

As one analyst put it: \u201cChinese companies can still make money and trade US LNG,\u201d explained Anne-Sophie Corbeau of the Center on Global Energy Policy. \u201cChina has access to plenty of other supplies, especially the increasing volumes coming from Qatar and Russia.\u201d<\/p>\n

For the time being, a large-scale return to direct US LNG imports looks unlikely. But given the structure of those long-term contracts and the commercial incentives involved, China\u2019s participation in the US LNG business isn\u2019t going away anytime soon.<\/p>\n

Updated on