China purchases LNG after Iran shock: Russell
As China, the top buyer of liquefied natural gases in Asia, shows signs of returning to the market, the demand for the gas is slowly recovering.
According to commodity analysts Kpler, the region with the largest imports is expected to receive 21.83 metric tons of grain in June. This will be the highest in a period of?five?months and also a significant increase from the 21.55 million tons that were imported in the same time last year.
Asia's LNG imports dropped to a six year low of 18,74 million tons after the Strait of Hormuz was effectively closed in April following the U.S.-Israeli attacks on Iran in February 28. This led to the suspension of shipments by Qatar, who had shipped 80.9 millions tons of LNG in 2025.
China barely held on to its position as the largest LNG importer of 2025, as imports fell to 66.48 millions tons, just ahead of Japan.
In the first five years of 2026, it was clear that China would fall to second place as its utilities avoided buying spot cargoes when prices soared after the Iran War.
Spot LNG price for North Asia
Prices then eased down to $16.05 per million Btu in mid-April. However, they have since risen to finish at $18.80?in the week ending June 5.
Kpler predicts that imports of super-chilled gasoline will rise by 4.48 million tons to 4.48 million tonnes in June. This is a slight decrease from the four-month-high of 4.74 millions in May.
China's imports for May and June were also significantly higher than the 3,78 million tons of March and April, which was an eight-year low.
JAPAN GAINS
Kpler estimates that Japan's imports will also rise in June. Arrivals are expected to reach 5.33 million tonnes, a record for the past three months and above the previous 4.91 million tonnes from June 2025.
South Korea is expected to import 3.26 million tonnes of LNG in June, a slight decrease from the 3.37 million tons that were imported in May and 3.48 millions in June last year.
South Asian buyers were most affected by the loss of Qatari cargoes, as India's imports of LNG fell to a record low of 1,67 million tons.
In June, India is expected to increase its LNG imports to 2.09 million tonnes, just a little behind the 2.11 millions tons of June 2011. This is because it sources LNG from other suppliers, such as Angola and Nigeria, as well as the United States.
Pakistan, who used to buy almost entirely from Qatar has struggled to find alternative suppliers. Imports for June are expected to be just?210,000, with only one cargo coming from Oman, and another from Qatar.
Pakistan's imports in June were about a third of the 620,000 tonnes in the same month of 2025. However, they have recovered from a 10-year low of only 70,000 tons in March.
Exports of U.S. LNG to Asia have dropped from a record high of 4,07 million tons in May to 2,73?million tonnes in June.
The U.S. still exports more than the average 1.15 million tons to Asia in the three months prior to the attack on Iran.
Kpler estimates exports of 4,99 million tons in June, up from 4,53 million tons in May. This is the lowest level since October 2024.
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(source: Reuters)
