Chinese companies have set a new record for reselling liquefied natural gas (LNG), actively taking advantage of rising prices in global markets. The increase in spot gas prices has provided China with a unique opportunity to generate additional income, as the country has sufficient domestic production and pipeline gas imports to meet its own needs, allowing for the export of surplus volumes.
This is reported by Finway
Record LNG Resales in March
According to leading analytical firms ICIS, Kpler, and Vortexa, in March, China resold between 8 and 10 LNG cargoes, marking the highest monthly result on record. By 2026, the country had already resold 1.31 million metric tons of liquefied gas (19 cargoes), most of which were delivered to South Korea, Thailand, Japan, India, and the Philippines.
“Chinese firms are reselling record volumes of LNG, profiting from the rapid rise in spot prices, as China has enough domestic and pipeline gas to satisfy its weakened demand, sharply contrasting with other Asian buyers who are trying to replace supplies disrupted by the war in Iran”
In comparison, in 2025, the volume of LNG resold by China was 0.82 million tons, and in 2023, it was 0.98 million tons, which was also one of the highest annual figures.
Growth Factors and Geopolitical Impact
The decline in domestic demand for LNG in China is attributed to weak economic activity and an increase in its own gas production and pipeline fuel imports from the Russian Federation. At the same time, Asian LNG prices surged by 85% following U.S. and Israeli strikes on Iran at the end of February, which disrupted supplies through the Strait of Hormuz, a key route for about one-fifth of global LNG flows.
According to a report by Vortexa, the Binhai terminal in Jiangsu province, owned by CNOOC, accounted for nearly half of all Chinese LNG resales in March.
China remains the main consumer of gas from Qatar, having received nearly a quarter of all supplies from Gulf countries last year. However, exports from Qatar to China decreased in March due to Iranian attacks on Qatar’s gas infrastructure and the effective blockade of the Strait of Hormuz.
Amid energy challenges caused by the conflict in the Persian Gulf, Asian states are forced to seek alternative supply sources, including purchases of Russian oil following the temporary lifting of U.S. sanctions. On February 28, the U.S. and Israel struck Iranian infrastructure, leading to Iranian retaliatory strikes on American bases in the region.