Asia Pacific gas & LNG: 5 things to look for in 2026

The year 2025 marked the onset of a new wave of LNG supply growth, with nearly 23 Mt of supply additions. However, despite robust supply, regional spot prices remained elevated enough to curtail buying from China and emerging Asian markets.

The coming year will see the global gas market transition from tightness to increased supply abundance, reshaping dynamics across Asian LNG markets.

Powered by Wood Mackenzie Lens Gas & LNG, we examine five defining themes for 2026:

• Supply surge: Will Northeast Asia finally see the relief needed to stimulate demand?
• China's reversal: after a 10 Mt import decline, can softer prices unlock 5.5 Mt of demand growth? 
• Emerging market opportunity in Asia
• Indonesia's Kutei moment: Eni targets FID on Northern Hub projects. Who will be the partner of choice in the anticipated US$1 billion farm-down?
• Contracting resilience

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