China Cuts LNG Imports as Domestic Gas Glut Undercuts Global Prices

China is reducing spot LNG purchases despite peak demand season, as abundant domestic supply and inventory releases push national average LNG prices to $21.97/MMBtu, nearly $10 below the JKM benchmark. This signals a shift in China's import behavior, potentially easing global LNG price pressure but also reflecting weaker-than-expected demand growth. The move could reshape global LNG trade flows, with implications for exporters like the US and Qatar.

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