China LNG Imports Fall in September as Middle East War Lifts Prices

China's liquefied natural gas imports are estimated at 5.3 million tons for September 2026, marking an 8 percent decrease compared to September 2025, according to Kpler shipping data cited by Bloomberg and Oilprice. The estimated volume slightly exceeded August 2026 deliveries of 5.2 million tons, representing a second consecutive monthly decline following elevated procurement between May and July.

The decline follows sharp increases in spot gas prices, which exceeded 20 dollars per million British thermal units in August and reached 26 dollars per mmBtu in early September. The price levels represent roughly a doubling compared to the previous year. Kpler projected total Asian inflows to drop to an eight-year low of 20.09 million tons in September, down from 22.27 million tons in September 2025.

Chinese state-owned LNG importers are reportedly holding discussions to secure long-term supplies from producers that do not rely on the Strait of Hormuz, seeking to reduce transit exposure to the Persian Gulf. Chinese buyers affirmed they will not cancel binding contracts with Qatar, which has extended a force majeure on its LNG exports.