China’s LNG terminal boom sets stage for its next swing buyer role
- China’s LNG terminal utilisation fell to about 40% as receiving capacity outpaces imports
- The imbalance has sparked concerns about terminal overcapacity, but it also serves as an energy safety net
- Spare capacity could allow China to emerge as a key swing buyer when new global LNG supply eases prices from 2028
To many critics, China’s underused LNG terminals are a sign of excess. To Beijing, they are strategic insurance
