In Q2 2025, China’s gas and LNG market focus expanded beyond the US-China trade war and headline tariffs. While US LNG exports to China were impacted and Chinese exports to the US fell, the outlook now hinges on policy shifts around pricing strategies, market access, and private entry. Diverging piped gas pricing from national oil companies (NOCs) is offering new flexibility for buyers. At the same time, fresh energy pricing reforms aim to delegate pricing to markets wherever possible -a core part of China’s unified national market strategy. New policies are also supporting the scale-up of LNG and green fuels in transport, alongside accelerated private sector growth in energy, all to drive China’s green transition.

Access the condensed report for the latest insights. (Full report only available for clients)