LNG

Egypt is seeking to import more LNG as electricity demand this summer is forecast to rise 8% above last year’s peak of 40 Gigawatt. Regasification capacity has been maximised, while the Damietta LNG export terminal gets used to store cargoes for emergency use.

US LNG developers have secured 40 mtpa of LNG offtake from planned export projects in 2025, their strongest commercial year since 2022. Port Arthur LNG Phase 2 led the pack with 1.4 Bcf/d contracts, and Asian and European buyers keep coming for more amid Qatar’s export suspension.

China’s emissions have peaked ahead of schedule, having been flat or falling for nearly two years, with LNG imports down sharply amid a renewables (RES) surge that reshaped the power sector. According to Carbon Brief figures, emission fell in the power, transport cement, and metals sectors – offset by rises in petrochemicals-related emissions.

New Fortress Energy (NFE) is withholding shipments to Puerto Rico over disputed payment terms. The withheld cargoes undermine the island’s ability to meet electricity demand, raising the risk of blackouts during the peak summer season.

Japan’s largest energy company JERA has signed a non-binding Heads of Agreement with Woodside Energy Trading Singapore to buy three LNG cargoes, or approximately 0.2 mtpa, during December to February to meet peakload power demand in the winter season. LNG from Australia will be shipped over a 5-years tenure starting from 2027.

Turkey’s incumbent gas importer BOTAS has issued a tender for delivery of five LNG cargoes in the first quarter of 2025 that will support the supply and demand balance in the EU gas market this winter. Analysts caution, however, Egypt’s new FSRU poses upside risk to non-European demand.