LNG Executives Expect Rebound in Chinese and Indian Demand
At the Gastech conference in Bangkok on September 14, 2026, LNG industry executives discussed the outlook for a recovery in Chinese and Indian demand. The war in the Middle East and surge in spot prices had curbed imports since February, but officials from GAIL (India) Limited, PetroChina International, Shell, and ExxonMobil converged on a shared diagnosis: the decline in imports reflected a temporary suppression of price-driven demand rather than a lasting destruction of gas outlets.
The conflict reduced export capacity from Qatar and the UAE, major suppliers whose cargoes transit through the Strait of Hormuz. This shipping lane accounts for a significant share of global LNG trade, which explains the disruption felt across Asian markets. The contraction in supply translated into a spike in the Asian LNG spot price, with the region competing directly with Europe for limited available cargoes ahead of winter.
India's GAIL (India) Limited and China's PetroChina International diversified their supply sources to offset the shortfall. Cederic Cremers, President of Shell's Integrated Gas division, quantified the extent of the shortfall caused by the conflict on Middle East supply. He said part of this deficit had been offset by new volumes from other production basins.
Andrew Barry, ExxonMobil's Vice President for Global LNG Marketing, anticipated a gradual normalization of prices as new liquefaction capacity comes online in the coming years. This shift would ease pressure on the Asian market and allow for the absorption of latent demand currently constrained by price levels.