LNG

Nuclear restarts and coal has displaced LNG in the South Korean power mix as Qatari supply fell away, allowing utilities to defer procurement rather than chase spot cargoes priced above $20 per MMBtu. As a result, LNG’s share in Korean power generation fell to an estimated 22–24 percent in H1-2026, down from roughly 26–28 percent in H1 2025.

Global climate finance commitments remain stuck at $100 billion annually – far below the $300 billion target. The widening finance gap and slow coordination on carbon policy translate into a growing role of LNG in Asia’s energy mix, particularly in emerging markets.

Executives of South Korea’s state-run utility KOGAS have visited Alaska as the Ministry of Trade, Industry and Energy (MOTIE) targets to increase the share of LNG in the power gen mix from 16.9% currently to 18.8% by 2030. US LNG imports to Korea already more than doubled year-on-year amid an ongoing Free Trade Agreements renegotiation.

Switzerland-based Mercuria Energy Trading has entered into a long-term LNG sales and purchase agreement (SPA) with Guangzhou Gas Group. Mercuria called the deal a "pragmatic commercial collaboration and sustainable supply chain development," but fell short of disclosing financial terms or volumes.

“This long-term agreement enhances Guangzhou Gas Group’s capacity to secure stable gas resources, optimize the local energy mix, and reduce carbon emissions — enabling high-quality regional economic development,” Mercuria said in a statement.

Though prices and volumes were not made public, Mercuria stressed this agreement enhances its role as a strategic LNG partner in China and across Asia-Pacific, consolidating the foundation of its global LNG portfolio.

SPA with Oman LNG

The latest SPA follows Mercuria’s earlier deal with Oman LNG in February, under which Oman LNG will supply the Swiss trading company with 800,000 metric tons of LNG annually over a 10-year period on a free-on-board (FOB) basis.

Earlier this month, Mercuria also sealed offtake agreement with Cowboy Clean Fuels, a Wyoming-based company specializing in renewable natural gas (RNG). The deal marks the first commercial sale of RNG produced using CCF’s proprietary biomass carbon removal and storage methodology at its Triangle Unit Project near Gillette, Wyoming.

Mercuria describes itself as one of the world’s largest independent energy and commodity groups. Over 50% of its new investments are dedicated to renewables and transitional energy.

Greater utilisation of India’s fleet of gas-fired power plants could accelerate LNG imports to bridge the gap left by marginal domestic gas production increases, the International Energy Agency (IEA) finds. Supportive policies by the Indian government could tilt the national power gen mix more towards cleaner-burning natural gas and hydrogen in the coming years.