LNG

Southeast Asia’s LNG imports are set to soar from 35 bcm today to 135 bcm by 2035, primarily driven by Pakistan and Bangladesh, the International Energy Agency (IEA) forecasts. With a wave of new LNG export capacity coming to market, global gas prices are bound to ease substantially, empowering countries like Bangladesh to secure long-term LNG contracts at more competitive rates.

As global oil demand levels off, a “wave of new LNG exports” is putting downward pressure on prices and extends natural gas demand growth into the 2030s, the International Energy Agency's (IEA) 2025 World Energy Outlook finds.

Saudi Aramco is preparing to tap the giant Jafurah shale gas basin in a bid to reduce oil dependence, positioning the Kingdom as a potential LNG exporter. Aramco CEO Amin Nasser singled out the field’s “huge” growth potential, though analysts doubt the Saudi gas market can absorb all the extra supply.

US developer Glenfarne has selected Baker Hughes to supply refrigerant compressors for the Alaska LNG terminal and power generation equipment for the North Slope gas treatment plant. Baker Hughes also pledged a “strategic investment” in the project.

China Communications Construction Company (CCCC) has been awarded a contract to supply onshore connecting infrastructure for Singapore’s second LNG terminal. The contract was awarded by state-owned terminal operator Singapore LNG, though the financial terms of the deal were not disclosed.

Investments in North American natural gas infrastructure – notably LNG terminals – run the risk of becoming stranded assets after 2040 as accelerated decarbonisation reduces LNG demand in Europe, Asia Pacific and China, DNV warns.

Bearishness sentiment pervades in the Chinese LNG market as the nation’s gas demand continues to fall. “Unless imports are massively picking up in November and December, we might stay below 2023-levels,” warned Anne-Sophie Corbeau, global research Scholar at the Center on Global Energy Policy.

Qatar’s energy minister Saad al-Kaabi has threatened to halt LNG supplies to the European Union if the bloc proceeds with its planned supply chain directive. Katherina Reiche, the German energy minister will address the issue during her visit in Qatar this week.

Greece has signed its first long-term LNG supply contract, agreeing to purchase at least 700 million cubic meters annually from Venture Global for the next 20 years. The LNG will be procured by a Greek partnership between AKTOR and DEPA Commercial, with an option to expand the annual offtake to 2 billion cubic meters.

Construction of LNG terminals is slowing in Europe as gas consumption is forecast to fall by 15-20% between now and 2030. Germany has shelved some regas terminal projects while a French court ruled an FSRU at the port of Le Havre should be removed, partly due to low utilisation.