June 27, 2025 : Asian spot prices fall
as supply disruption risk fades
Asian spot LNG prices fall as supply disruption risk fades - Reuters
Coastal Bend LNG Initiates Development of 22.5 Mtpa LNG Export Facility - Press Release
U.S. Natural Gas Weekly Update for week ending June 25, 2025 - U.S. EIA
Sanctioned Russian LNG Plant Looks Set to Restart Exports - Bloomberg
Canada approves law to fast-track resource projects, faces Indigenous opposition - Reuters
Introducing Adura: The UK North Sea’s largest independent oil and gas producer - Press Release
Thailand's PTT Signs Cooperation Agreement with Glenfarne Alaska LNG - Rigzone
PTT secures first long-term LNG export contract outside Thailand - Offshore Energy
Eni and Exmar move into arbitration over Tango FLNG performance - Upstream Online (Subscription)
Centrica and PTT sign Heads of Agreement for long-term LNG supply - Press Release
Atlantic LNG shipping rates down, Pacific rates up - LNG Prime (Subscription)
Japan is shifting its LNG buying from Mideast producers owned in part by US producers to US producers owned in part by state companies from the Mideast - @ira_joseph via X
US Gulf Coast LNG Scramble Gets Brand New Entrant - Energy Intelligence (Subscription)
First modules installed at Woodfibre LNG site - LNG Prime (Subscription)
Cheniere’s Corpus Christi expansion project 85.4 percent complete - LNG Prime (Subscription)
This Week in LNG
1. Geopolitical Impacts on LNG Markets
Ceasefire Reduces Supply Disruption Fears: The Israel-Iran ceasefire, reported by Reuters on June 25, 2025, eased concerns over disruptions in the Strait of Hormuz, through which 20% of global LNG trade flows, primarily from Qatar and the UAE. Asian spot LNG prices fell from $14.00/mmBtu to $13.10/mmBtu. Read This: Reuters, June 27, 2025.
Prior Tensions Spiked Prices: Earlier Israel-Iran conflict fears drove a 20% increase in EU gas prices, with the Dutch TTF benchmark hitting €41/MWh, as Europe relies on Qatar for 10% of its LNG. Read This: euronews, June 22, 2025.
Qatari Production Stable: Qatar’s LNG production remained steady, with 82% of exports to Asia, despite Middle East tensions. Read This: ICIS, June 23, 2025.
2. Shifts in LNG Procurement Strategies
Japan’s U.S.-Focused LNG Shift: Japan is moving from Middle East producers with U.S. ties to U.S. producers backed by Middle Eastern states, increasing freight costs but favoring liquid LNG markets. Tokyo Gas is negotiating with Woodside and Energy Transfer. Read This: Bloomberg, June 26, 2025.
Thailand’s LNG Agreements: PTT signed a 20-year deal for 2 mtpa from Alaska LNG and a 10-year deal with Centrica for Asian deliveries starting 2028. Read This: Rigzone, June 27, 2025; Offshore Energy, June 27, 2025.
Japan’s Energy Security: Japan’s LNG inventories are above the five-year average, supporting demand from AI and semiconductor sectors. Read This: JOGMEC, June 26, 2025.
PETRONAS-JOGMEC Collaboration: PETRONAS and JOGMEC signed an MoC to strengthen LNG supply stability to Japan. Read This: Press Release, June 23, 2025.
3. Global LNG Infrastructure Expansion
U.S. Projects Advance: Cheniere’s Corpus Christi Stage 3 is 85.4% complete, with Trains 8 & 9 approved, targeting over 30 mtpa. Coastal Bend LNG initiated a 22.5 mtpa facility with carbon capture. Read This: LNG Prime, June 27, 2025; Reuters, June 24, 2025; Energy Intelligence, June 26, 2025.
Canada’s LNG Progress: Woodfibre LNG installed its first modules, aiming for 2.1 mtpa by 2027. LNG Canada produced its first export-ready LNG. Read This: LNG Prime, June 27, 2025; Upstream Online, June 22, 2025.
Other Regions: Mexico’s Ursus Aqualita LNG secured a land concession, while Mozambique’s LNG project is set for 2029. Mexico Pacific’s Saguaro EnergÃa faces delays, seeking a seven-year extension. Read This: Natural Gas Intelligence, June 25, 2025; Nikkei, June 25, 2025; bn Americas, June 23, 2025.
Alaska LNG Developments: Alaska LNG secured a 2 mtpa deal with PTT, with Korea urged to join the $44 billion project. Read This: gasworld, June 24, 2025; Korea Times, June 24, 2025.
4. Russia’s LNG Export Challenges
Arctic LNG 2 Restart Attempts: Russia’s sanctioned Arctic LNG 2 saw its first tanker docking in eight months, with flaring indicating production resumption. Read This: Bloomberg, June 26, 2025.
Ice-Class Tanker Development: The first Russian-built ice-class tanker, Alexey Kosygin, is set for operation in 2025 to support Arctic LNG 2. Read This: Reuters, June 25, 2025.
EU Sanctions Impact: The EU’s ban on Russian LNG transshipments has forced reliance on Murmansk, increasing costs and complexity. Read This: CREA, June 26, 2025.
5. Declining LNG Demand in Key Markets
China’s Import Decline: China’s LNG imports fell 12% in June 2025, marking an eight-month decline due to milder winters, weak industrial demand, and increased Russian pipeline gas. Read This: Oil Price, June 26, 2025.
India’s Shift to Coal: India reduced LNG imports, favoring cheaper coal, with coal imports up 15%. Read This: Reuters, June 25, 2025;
South Korea’s Demand Trends: South Korea increased LNG imports by 10–20%, but long-term demand is projected to decline by 20% by 2030 due to decarbonization goals. Read This: Institute for Energy Economics and Financial Analysis, June 23, 2025.
6. LNG Infrastructure and Operations
U.S. LNG Exports: U.S. LNG exports in April 2025 reached 451.6 Bcf, up 49% from April 2024, with Europe as the top destination. Read This: U.S. Department of Energy, June 25, 2025.
Floating LNG Developments: Golar’s FLNG Gimi reached commercial operations at 2.4 mtpa in Mauritania-Senegal. Read This: Press Release, June 23, 2025.
Freight Rate Dynamics: Atlantic LNG freight rates fell to $48,750/day, while Pacific rates rose to $42,500/day, driven by Middle East tensions and vessel availability. Read This: LNG Prime, June 27, 2025; Reuters, June 24, 2025.