Asian LNG Demand Slumps Amid High Prices
LNG demand in Asia may decline by 3-10% in 2026 due to high prices, according to analysts cited by Reuters. This would mark the second consecutive annual decrease in LNG demand in the region.
The largest share of the decline is expected in Northeast Asia, where countries have been reducing their LNG consumption through coal and nuclear generation. Rystad Energy analyst Lu Ming Pang noted that the ability to reduce gas demand depends on a country's energy system structure.
Asian LNG imports in September may reach 20.09 million tonnes, the lowest figure since 2018. China, the world's largest LNG importer, is particularly sensitive to price fluctuations, with Kpler analyst Nelson Xiong predicting that buyers may postpone significant purchases until the end of December or the first quarter of 2027.
The high price of LNG, currently at $26 per million British thermal units, has been linked to QatarEnergy's force majeure on exports following strikes on the Ras Laffan gas complex. India is expected to maintain resilient demand due to household gas consumption and fertilizer production needs.