The Asian LNG market is recovering strongly, with imports reaching 21.83 million tons in June 2026.
Demand for liquefied natural gas in Asia reached its highest level in five months as major economies ramped up purchases despite risks from the Strait of Hormuz.
The liquefied natural gas (LNG) market in Asia is showing clear signs of recovery after a period of supply volatility. According to data from analytics firm Kpler, LNG arrivals at Asian ports in June 2026 are expected to reach 21.83 million tons, the highest level in the past five months and exceeding the 21.55 million tons of the same period last year.
Japan and China are driving regional demand.
This recovery is being led by the region's two largest economies, Japan and China. Japan is expected to import 5.33 million tons of LNG in June 2026, the highest level in three months and a significant increase from the 4.91 million tons imported in the same period of 2025. This is an effort to ensure energy security amidst ongoing global market uncertainties.
Meanwhile, China also saw the return of power generation units. Its LNG imports in June 2026 are estimated at 4.48 million tonnes. While slightly lower than in May, this figure is still significantly higher than the eight-year low of 3.63 million tonnes recorded in April 2026, when spot prices surged due to Middle Eastern conflict disrupting supplies from Qatar via the Strait of Hormuz.
LNG price movements in the spot market
LNG delivery prices in Northeast Asia (LNG-AS) have adjusted after a period of significant volatility. From a peak of $25.3/mmBtu at the end of March 2026 (a 143% increase from pre-conflict prices), prices have gradually decreased and stabilized at $18.8/mmBtu in the week ending June 5, 2026. This price cooling has somewhat made it easier for developing countries in South Asia to access supply.
| Country/Region | Import forecast for June 2026 (million tons) | Compared to the same period in 2025 |
|---|---|---|
| All of Asia | 21.83 | An increase of 1.3% |
| Japan | 5.33 | An increase of 8.5% |
| Korea | 3.26 | A decrease of 6.3% |
| China | 4.48 | Stable growth |
The shift in energy flows away from the United States.
The flow of LNG from the US is showing a clear divergence. US LNG exports to Asia are projected to reach 2.73 million tons in June 2026, down from a record 4.07 million tons the previous month. Conversely, US supply is trending back towards the European market, with an estimated volume of 4.99 million tons, up from 4.53 million tons in May 2026.
In South Asia, India is gradually adapting to the shortage from Qatar by increasing purchases from Angola, Nigeria, and the US, projected to reach 2.09 million tonnes in June. Pakistan also saw a slight improvement with projected imports of 210,000 tonnes as some Qatari cargo ships began navigating the Strait of Hormuz more safely. Overall, although prices remain high compared to pre-conflict levels, the Asian LNG market is demonstrating its ability to self-regulate and diversify its supply sources to maintain growth momentum.
