Instead of transporting gas to China, these companies from the Middle Kingdom diverted U.S. LNG to Europe, where demand for the commodity has increased significantly.
Politics does not always align with commercial interests
This disconnect between political differences and commercial interests demonstrates how closely linked the U.S. and Chinese energy systems are, despite efforts by Washington and Beijing to diversify their economies as they compete for global leadership, ProFinance writes.
It also underscores the growing flexibility and liquidity of the global LNG market, which has expanded significantly in recent years, thanks in large part to booming US production. The country became the world’s largest LNG exporter in 2023, surpassing Qatar.
Last year, the U.S. exported nearly 110 million tons of liquefied natural gas, more than a quarter of the world’s supply. China, the world’s largest LNG importer, will buy 4.3 million tons of U.S. gas in 2024, about 5 percent of all U.S. exports that year, according to analyst firm Kpler.
In 2025, despite the cessation of LNG imports, China continued to purchase significant amounts of ethane, a feedstock for the petrochemical industry. Throughout the year, China imported an average of 325,000 barrels of ethane daily, accounting for more than 60% of U.S. exports of the feedstock. According to Kpler, the last shipment of ethane was imported by China in April 2025.
China’s total LNG imports in 2025 fell 14% year-on-year to 67 million tons. This is due to the slowdown in industrial growth, the development of renewable energy sources, an increase in domestic gas production and rising pipeline fuel imports from Russia.
At the moment, Washington and Beijing are discussing Trump’s possible visit to China in April, which could help reduce tensions in trade relations.
However, Anne-Sophie Corbo, a research fellow at the Center for Global Energy Policy, believes China is unlikely to resume large-scale deliveries of U.S. LNG anytime soon.
“Chinese companies can continue to capitalize on U.S. LNG,” Corbo noted. – China has access to a significant amount of LNG, particularly from Qatar and Russia.”
“Flexible buying” of U.S. LNG
Most U.S. LNG contracts give buyers the freedom to choose where the cargoes are delivered and sold, as well as the ability to resell them to third parties such as trading houses. This distinguishes them from contracts from many other LNG suppliers, including Qatar, which often impose strict destination requirements.
According to Reuters data based on Kpler, in the 12 months to February 2025, China’s five main U.S. LNG buyers – PetroChina, ENN Natural Gas, CNOOC, Sinochem and Sinopec – chartered a total of 3.3 million tons of LNG from U.S. terminals. The vast majority of these volumes were destined for Europe.
For example, of the 27 cargoes chartered by PetroChina since February 2025, 23 have been delivered to Europe, two to Brazil and two to Bangladesh. According to a Reuters analysis, all 10 shipments chartered to ENN were also shipped to Europe. Many other shipments were likely sold to other buyers before loading began.
Political and economic tensions between Beijing and Washington are likely to affect global trade for a long time to come. As a result, China may seek to reduce its dependence on U.S. energy resources. However, its involvement in the U.S. LNG sector is not likely to end.
