2025-04-24 06:55:00
U.S. LNG FOR CHINA DOWN ANEW
BLOOMBERG - Apr 21, 2025 - China’s purchases of US liquefied natural gas plunged to zero in March after a sharp decline in the previous two months, as the trade war between the two biggest economies alters shipping routes.
Overall delivery of US LNG shipments in the first quarter of 2025 fell by 70%, according to Chinese official custom data released on Sunday. The hiatus is the longest since the last trade war triggered during US President Trump’s first tenure, when China didn’t receive cargoes for about 400 days.
The geopolitical conflict is once again decoupling the world’s largest LNG buyer and seller. An escalation in mutual tariffs has led China to impose a 125% tariff on all US goods, turning to Indonesia and Qatar for supplies.
Imports of the super-chilled fuel have been lower than the previous year for five months in a row, with a 24.5% drop in March marking the biggest slump since November 2022. Pipeline gas, mainly from Russia, posted a marginal increase in the first quarter, though total volumes remained lower than seaborne shipments.
China has been relying on coal and renewables rather than on the spot LNG market to shield its energy security against trade turbulence.
The country may see minimal growth in its total gas consumption this year, and may slash LNG imports by as much as 12% compared with last year if tariffs remain above 100% for the next six months.
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Earlier:
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