Global Nat Gas & LNG

US LNG shipments to Europe dropped to just under 42% of total exports in June, the first time below 50% since July 2024. Stronger Asian spot prices (JKM averaged $17.33/MMBtu vs TTF at $13.19/MMBtu) and record Egyptian buys diverted cargoes eastward. The shift tightens northwest Europe LNG send-out and slows storage injections at a time when refill pace already lags. Read →

Freeport LNG will begin a major turnaround at its Texas terminal on July 10, running through late August. Feedgas nominations have already eased and US natgas prices hit six-week lows on the outlook for lower exports. Reduced US LNG availability further limits spot cargoes reaching northwest Europe, supporting the TTF-JKM arb dynamic. Read →

Henry Hub futures fell to a six-week low after Freeport LNG confirmed major maintenance starting July 10. A larger-than-expected US storage build also weighed. Lower US LNG output tightens global spot supply, with implications for European and Asian benchmarks as fewer cargoes head to TTF hubs. Read →

The Al Rekayyat, a Qatari-owned LNG carrier, was struck overnight Tuesday near the Strait of Hormuz exit, sparking an engine-room fire and stranding it off Oman. Industry sources say cargo tanks appear secure with low explosion risk, but two support vessels stand by. The incident follows recent tanker attacks and escalates risks to 20% of global seaborne LNG flows from Qatar and the UAE. Read →

Dutch TTF front-month rose 3% to 47.9 EUR/MWh and UK NBP climbed 5.4% as renewed US-Iran tensions and tanker strikes in the Strait of Hormuz revived fears over LNG shipping security. The Strait handles 20% of global LNG; any prolonged disruption adds a geopolitical premium despite Europe’s summer storage season. Traders repriced supply risks sharply higher. Read →

European TTF prices rallied 5% Wednesday for a second session after US strikes on Iran and fresh attacks on merchant vessels in the Strait of Hormuz. The move directly reflects heightened risk to Qatari and Emirati LNG exports that transit the chokepoint. Renewed hostilities threaten the fragile ceasefire and keep a supply-premium bid in the European benchmark. Read →

Nigeria's UTM Offshore secured a 15-year gas supply agreement with a joint venture between NNPC Ltd and Seplat Energy, supplying 200 million standard cubic feet per day from the Yoho field. This removes a major obstacle to final investment decision on its $3 billion floating LNG project designed to produce 1.8 million tonnes per year. The FID is now expected in the fourth quarter after previous delays. Read →

Japan’s Inpex Corp signed a 15-year deal with Abu Dhabi National Oil Co. to buy about 1 million tons per year of LNG from the Ruwais LNG project scheduled to start operations in 2028. The long-term contract secures supply for Japanese buyers amid ongoing global market volatility from Middle East disruptions. Read →

A laden Qatari LNG carrier, Al Rekayyat, owned by Nakilat, was struck by a projectile near the Omani coast while exiting the Strait of Hormuz on July 7. The incident follows prior Middle East disruptions and tests a recent US-Iran peace framework. It immediately pressured European benchmarks higher as supply risks resurfaced. Read →

QatarEnergy cut its 2026 LNG delivery schedule to Bangladesh by half due to ongoing Strait of Hormuz disruptions from the Iran conflict. Petrobangla is seeking alternatives. The move highlights persistent supply constraints affecting Asian buyers and potential cargo availability for Europe. Read →

The International Gas Union reported record global LNG trade in 2025, supported by strong US exports and European imports. Middle East tensions and Hormuz issues now threaten 2026 volumes. This underscores vulnerability in the Atlantic-Pacific arbitrage and spot cargo flows. Read →

India lifted most emergency natural gas supply regulations after LNG shipments through the Strait of Hormuz resumed following a ceasefire. The move eases prior curbs imposed in March during disruptions, potentially supporting Asian spot demand and JKM. Resumed Middle East flows could ease global tightness but compete with European needs for cargoes. Read →

EU storage refill lags, with analysts warning stocks could end the season at only 76% full, the lowest in 15 years. Slow injections stem from constrained LNG supply and a backwardated forward curve that discourages buying. Low inventories heighten winter price-spike risks for TTF despite recent geopolitical easing. Read →

Dutch TTF benchmark dropped to 44.71 EUR/MWh on July 6, down 1.38% from the prior day, as sluggish storage injections persist. Prices hit a three-week high earlier on refill worries before easing. Weak pace of European storage builds and limited Norwegian flows keep upward pressure on the hub. Read →

Bloomberg reports an abrupt slowdown in Qatar LNG tanker crossings through the Strait of Hormuz despite some oil traffic resuming. Fewer shipments keep supply tight for Asian and European buyers reliant on Qatari volumes. This sustains upward pressure on JKM and TTF benchmarks amid ongoing regional risks. Read →

JKM edged up 0.34% to 16.08 USD/MMBtu on July 2. Persistent limits on Qatari exports via Hormuz and steady Northeast Asian demand underpin the benchmark. The move narrows but does not erase the TTF-JKM spread dynamics for spot cargoes. Read →

ICE data shows Dutch TTF Aug 2026 futures around 43.7 EUR/MWh with modest volume. Low EU storage levels and variable LNG send-out into northwest Europe influence pricing. Milder weather demand provides some offset as markets monitor Norwegian flows and any residual pipeline supply. Read →

S&P Global Platts launched daily assessments for US Gulf Coast Marker LNG derivatives and additional inter-regional LNG derivative products. The new benchmarks enhance price discovery and risk management for US-sourced LNG flows that increasingly arbitrage between TTF and JKM. This supports better tracking of Atlantic-basin cargo diversions affecting both European and Asian hubs. Read →

EU LNG imports declined 18% year-on-year in June due to ongoing Middle East supply constraints from the Iran conflict. Reduced inflows ease immediate storage injection pressure on TTF while highlighting competition from Asian buyers. The drop aligns with lower northwest Europe LNG send-out and supports the observed TTF-JKM spread dynamics. Read →

Shell’s LNG Outlook 2026 projects global LNG trade flat at 422 million tonnes in 2026 if Strait of Hormuz flows normalize by summer, or a rare contraction if disruptions persist. The war has already cut 20% of exports; U.S. volumes rose while Qatar’s fell sharply. Long-term demand still seen up 65% by 2050, led by Asia. Read →

Global natural gas prices climbed Monday as vessel traffic through the Strait of Hormuz slowed significantly after renewed fighting between the United States and Iran. TTF and JKM benchmarks rose, with Asia outbidding Europe for cargoes amid the supply crunch. The moves reflect heightened geopolitical risks to roughly 20% of global LNG flows. Read →

Shell said Tuesday in its annual LNG report that global physical LNG cargoes sold this year could stay flat at 422 million metric tons if Hormuz disruptions persist. Prior expectations were for significant growth; the outlook assumes a summer return to normal shipping. Prolonged issues would tighten supply for Europe and Asia benchmarks. Read →

Shell's 2026 LNG Outlook forecasts global demand rising about 65% by 2050 to nearly 700 million metric tons annually, led by Asia. Trade is seen flat in 2026 at 2025 levels due to Middle East supply constraints before growth resumes in 2027. South and Southeast Asia are projected to account for around 40% of imports by 2050. Read →

European natural gas prices rose to €41.7 per MWh on Monday, extending Friday's gains as the latest flare-up in the Middle East reignited supply concerns. Dutch TTF is the leading European benchmark. The move reflects ongoing geopolitical risks to global LNG flows into northwest Europe. Read →

Dutch TTF Gas Jul '26 futures traded at 41.435 EUR/MWh, up 0.653 or +1.60%. The benchmark rose amid persistent supply concerns from the Middle East and European storage dynamics. Low injection pace and limited Norwegian pipeline flows support the upside. Read →

JKM and TTF eased while Henry Hub rose on summer demand expectations and storage data. EU-wide underground gas storage was 39.7% on May 29, up from the prior week but down sharply year-on-year. Milder weather and stable supply fundamentals weighed on benchmarks. Read →

European benchmark TTF futures rose as much as 1.6% after an attack on a cargo ship in the Strait of Hormuz renewed transit fears. Prices trade in a narrow weekly range but sit over 25% above pre-war levels due to slow storage refill ahead of winter. Read →

EU gas storage stood at 50 bcm or 46% of capacity on June 23, down 10.6 bcm year-on-year and 15 bcm below the five-year average. Slow summer injections from tight LNG markets and a backwardated curve point to end-October fill of only 75-78%. Read →

The Platts JKM benchmark fell 1.06% to 15.39 USD/MMBTU on June 25. The move tracks softer Asian spot demand and cargo flows amid the TTF-JKM arb and ongoing Middle East shipping constraints. Read →

Jera Global CEO Yukio Kani said spot LNG prices will likely stay sticky at relatively high levels due to Middle East supply disruptions and low European gas storage. Platts assessed August JKM at $15.521/MMBtu. This sustains upward pressure on TTF amid competition for cargoes. Read →

Asia's LNG imports surged more than 10% year-over-year in the first half of June after earlier declines, led by India and other markets. Stronger summer cooling demand and a $2/MMBtu JKM premium over TTF drew flexible cargoes east. This risks cutting LNG inflows to Europe and slowing storage injections. Read →

TTF futures for the following month fluctuated between €40 and €42 per MWh through the second half of June. Prices eased from earlier levels but stayed supported by storage refill needs and LNG competition. Current levels reflect balanced but tight fundamentals heading into peak injection season. Read →

Qatar Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani told the Financial Times that LNG production at facilities damaged in the Iran conflict will return to normal within a few weeks, though one damaged site may lag. The statement follows a ceasefire and progress on reopening the Strait of Hormuz. This eases near-term global supply concerns for the world's top LNG exporter. Read →

JERA Chairman Yukio Kani said LNG prices should hold firm over the next year because restoring damaged Qatari facilities will take more than two to three years and Europe must rebuild low inventories ahead of winter. Europe’s need for spot LNG to avoid Russian gas adds support. JERA is Japan’s largest LNG buyer. Read →

A technical malfunction caused an explosion and fire at the Barzan gas facility in Ras Laffan Industrial City during restart of operations halted by prior Iranian attacks. QatarEnergy and officials stated LNG exports and domestic supply remain unaffected with no sabotage involved. The incident hits the world's largest LNG export hub amid ongoing Middle East supply uncertainty. Read →

Chevron signed a 20-year agreement to supply natural-gas fired power via the co-located Project Kilby facility to Microsoft's 2+ GW data center campus in Pecos, West Texas. The plant, using GE Vernova and Caterpillar turbines, targets first power in 2028 and FID by end-2026. It anchors dedicated Permian gas demand for AI-driven electricity needs. Read →

An operational incident during start-up at the Barzan gas supply facility in Ras Laffan caused an explosion and fire on Sunday evening. QatarEnergy contained the fire with no public safety threat or leak reported, but the site is Qatar's core LNG processing hub supplying pipeline gas and supporting 77 mtpa LNG capacity. The event adds to prior war-related damage that already cut 17% of Qatar's LNG export capacity. Read →

A June 1 letter from the EU Energy Commissioner's office to Poten and Partners states EU operators cannot trade or market Russian LNG regardless of final destination. The clarification resolves ambiguity for holders of long-term contracts including TotalEnergies, Naturgy and SEFE, tightening the 2027 phase-out of Russian gas imports. Read →

Equinor and partners Petoro, Shell, TotalEnergies and ConocoPhillips will spend over NOK 4 billion on the TWIN subsea project adding two wells and a pipeline. The development will deliver around 11 bcm of gas starting in 2028, increasing Norway's daily output by 2-2.5 mcm for the first eight years as Europe's top supplier. Read →

The MRAIKH carrier arrived at Port Qasim Monday morning with 170,148 cubic metres of LNG from Qatar's Ras Laffan under a long-term contract priced at 13.37% of Brent. It marks Pakistan's seventh cargo since regional tensions escalated in late April, supporting summer demand as the country manages supply risks. Read →

A laden QatarEnergy LNG carrier transited the Strait of Hormuz visibly after a US-Iran framework deal, with vessels in ballast returning to the Gulf. This signals potential restart of Qatari exports disrupted since late February, easing global supply concerns and supporting lower price premiums. It directly impacts LNG availability for Europe and Asia as markets monitor resumption timelines. Read →

A potential Strait of Hormuz reopening via US-Iran agreement will take months for full shipping flows and years for damaged Qatari capacity recovery. Europe remains exposed due to low storage buffers entering refill season and ongoing reliance on expensive, insecure gas imports. The analysis urges demand reduction over supply fixes to address structural vulnerability. Read →

India's LNG carrier 'Disha' docked at Dahej port in Gujarat after safely crossing the Strait of Hormuz, marking the first such arrival post-disruption. The delivery bolsters India's energy security and gas supplies from Qatar amid improving regional logistics. It highlights resuming Asian LNG trade flows following the Hormuz developments. Read →

European TTF gas prices fell about 3% to €40.6/MWh on June 18 amid an interim US-Iran agreement that includes reopening the Strait of Hormuz. The deal eases immediate supply disruption risks for Qatari LNG exports. Lower prices reflect reduced geopolitical premiums in European and global gas markets. Read →

Northeast Asia's JKM benchmark fell 0.75% to $15.82/MMBtu on June 17. The decline tracks easing global supply concerns from the US-Iran de-escalation. Asian spot LNG prices remain 14% higher year-over-year despite the pullback. Read →

US natural gas futures pulled back in early trading on June 18, snapping a recent winning streak. The market watches for the weekly storage report and the season's first named Atlantic storm. Price action reflects shifting focus from weather-driven demand to inventory data and export risks. Read →

QatarEnergy is ready to quickly resume LNG production at Ras Laffan and reach full output within a month for unaffected facilities. Damaged trains representing 17% of capacity will take years to repair. Restart depends on safe Hormuz shipping after the US-Iran deal, addressing a key supply disruption from the recent conflict. Read →

Unions reached a deal with Inpex to end strikes at Ichthys LNG facilities in Australia. Action had disrupted shipments and shut one production train. Resolution reduces near-term supply risk from this major project supplying Asia. Read →

QatarEnergy told buyers it aims to reach 50% of LNG capacity within one month of safe Hormuz passage and 80% within two months. The world's largest LNG exporter had curtailed output due to the strait closure. Faster recovery would ease global supply constraints and pressure prices lower. Read →

European TTF and Asian LNG prices fell sharply Monday after news of a US-Iran preliminary peace agreement raised prospects for Strait of Hormuz reopening as soon as June 19. Traders reacted to the potential return of Qatari and other Gulf LNG flows. The move follows elevated prices since the March disruptions. Read →

Japan's industry minister said the government is monitoring the extended Ichthys strike and its effects on LNG supplies. Japanese utilities buy about 5.7 million tons annually from the 9.3 mtpa project. Officials remain in contact with Inpex and utilities to safeguard energy security. Read →

India's Petronet sent the Maltese-flagged LNG tanker Disha through the Strait of Hormuz, the first since the US-Iran peace deal. The vessel, loaded at Qatar's Ras Laffan, heads to India's Dahej terminal. Limited traffic persists as shippers await mine clearance details before resuming full passages. Read →

Australia's Offshore Alliance will extend strikes at Inpex's Ichthys LNG project until July 6 after the Fair Work Commission rejected Inpex's bid to halt action. The strikes, seeking better pay and conditions, already threaten four LNG cargoes and risk storage limits at the 9.3 mtpa facility. Read →

Australia's Fair Work Commission rejected Inpex's application to end strikes by 400 workers at its Ichthys LNG project. Inpex warned of potential shutdown risks and delayed cargoes amid ongoing labor disputes over pay and job security. Read →