LNG

Santos has agreed to divert 200 petajoules to the South Australian government, delivered ex-Moomba from Santos’ Cooper Basin operations, formalising supply to the domestic market – rather than LNG exports.

Five US-loaded LNG cargoes have diverted from European or Egyptian destinations into the Pacific Basin in the four weeks through mid-May: the WilPride, SK Audace, Umm Al Houl, Adamastos and Sea Navigator. Four are signalling 'For Orders' and one (the Adamastos) is bound for Dahej, India, LNG Journal’s data shows.

Pakistan is preparing to sell excess LNG, imported from Qatargas and Eni, starting from January 1, 2026, after lower gas-burn for power generation created a surplus, petroleum minister Ali Pervaiz Malik said. The Government  initially tried to divert imported LNG to domestic customers, but this move increased circular debt in the gas sector and caused loses of around Rs1,000 billion (US$3.55 million) since 2018-19.

The TTF needs to price higher at around €57/MWh for the balance of 2025– if European buyers want to succeed in attracting flexible LNG cargoes, as inventories are depleting fast. Reduced Norwegian pipeline gas flows could propel up TTF prices, analysts warn, as Europe lost its ability to further minimise power-sector gas demand.

As Asian utility buyers have covered their summer LNG demand, Qatargas is diverting more cargoes to the UK, adding length to an oversupplied market which is likely to exacerbate the 28% drop in gas prices at the NBP since April.