What is LNG?
LNG
Liquefied natural gas (LNG) is natural gas cooled to a liquid state for shipping and storage. As of 2026, LNG markets are marked by shifting trade flows, regional supply concerns, and debates over its long-term role in Asia.
How it developed
- Mar 2026 - Karen Young said the pool of LNG has shrunk by about one-fifth, and a country like Taiwan, which gets 30% of its LNG from the region, would be desperate.
- Mar 2026 - Karen Young said LNG trade is expected to increase by about 50%, but she wondered about long-term damage to gas’s reputation in Asia.
- Apr 2026 - Chris O’Shea said gas will be around for at least another 20 years.
- Jun 2026 - Jordan Schneider said excess LNG cargoes are floating around because of tremendous natural gas demand destruction in China, as they crank up coal plants in a crisis.
- Jun 2026 - Jordan Schneider said Taiwan signed a reciprocal trade agreement in February 2026, committing to over $40 billion in US LNG and crude oil purchases through 2029, which will increase US LNG imports to roughly one-third of Taiwan’s total supply.
In the evidence
Every line below is attributed to a named speaker.
Taiwan signed a February 2026 trade deal committing to over $40 billion in US LNG and crude oil purchases through 2029, raising US LNG to roughly one-third of Taiwan's total supply.
“In February 2026, Taiwan signed a reciprocal trade agreement with the Trump administration, committing to over $40 billion in US LG and crude oil purchases through 2029, which will increase US LG imports to roughly one-third of Taiwan's total supply.”Jordan Schneider · 30 Jun 2026
Centrica is committing billion-pound investment in LNG infrastructure based on a view that gas remains central to Europe's energy mix for at least 20 more years.
“We clearly think gas is going to be there at least for another 20 years.”Chris O'Shea · 22 Apr 2026
China's LNG demand destruction, caused by excess idle coal capacity that utilities crank up in crises, flooded the global spot market with excess cargoes and loosened supply.
“The fact that there's all these excess cargos floating around is because of China because there's been tremendous natural gas demand destruction in China. And it's because they have all these excess capacity in coal plants that they don't use. And in the crisis, they just cranked those coal plants on and that loosened up supply on the spot market.”Jordan Schneider · 30 Jun 2026
LNG trade capacity under construction points to an approximately 50% increase in global LNG trade, but new supply will not replace disrupted Qatari and Emirati volumes in the near term.
“We are going to have an increase about 50% in terms of LG trade.”Karen Young · 4 Mar 2026
Taiwan sources 30% of its LNG from the Middle East, leaving it severely exposed to any regional supply disruption.
“A country like Taiwan well 30% of their LNG was coming from the region. So they are going to be desperate.”Karen Young · 4 Mar 2026
The global LNG pool has shrunk by approximately one-fifth due to the disruption of Qatari and Emirati exports.
“The pool of LNG has been really been shrinking by about 1/5.”Karen Young · 4 Mar 2026
A Middle East gas crisis may do lasting damage to gas's reputation in Asia, accelerating a structural shift toward coal and renewables rather than toward more LNG.
“I am really wondering about the long-term damage to the gas reputation in Asia.”Karen Young · 4 Mar 2026