China Ramps Up LNG Imports as Middle East Supply Crisis Deepens

State-controlled energy giants and private firms have pushed China's 30-day moving average for deliveries to 178,000 tons per day, the highest level since early February. This surge follows the suspension of Qatari liquefaction operations and the mid-March Iranian missile strikes that crippled the Ras Laffan facility. QatarEnergy has declared force majeure on shipments, warning that repairs to the world’s largest LNG complex could span five years.

With Qatari exports trapped behind the Strait of Hormuz, the global market is experiencing a severe supply crunch. Benchmark gas prices in Europe and Asia have climbed sharply as competition for alternative cargoes intensifies. China is currently winning the race for available supply, leaving European nations struggling to refill storage sites that reached multi-year lows at the end of the heating season. Current import volumes have now returned to the five-year seasonal average, signaling a sustained period of market volatility as cooling demand peaks across North Asia.