Japan to Overtake China As World’s Top LNG Importer This Year

AI Summary

Japan is forecast to become the world’s largest LNG importer this year, narrowly overtaking China for the first time since 2022. Analysts attribute the shift to high LNG prices and sufficient storage limiting Chinese purchases, with estimated imports of 62 million metric tons for Japan and 61 million for China.

Japan is expected to overtake China as the world’s largest importer of liquefied natural gas (LNG) this year, for the first time since 2022, as high LNG prices and sufficient storage in China limit purchases, analysts at ICIS and Kpler say.  Japan’s LNG demand will exceed, albeit slightly, demand in China, according to estimates by the consultancies compiled by Reuters. Imports into Japan are estimated at 62 million metric tons, while Chinese imports are expected at 61 million tons this year, according to ICIS. Kpler also sees…