Pakistan pays for supplier concentration
Pakistan LNG Ltd reportedly accepted a lone bid from TotalEnergies on 20 July, at $21.88 per MMBtu for a cargo nominally delivering on 27 to 28 July. It was the seventh spot purchase since QatarEnergy declared force majeure on 4 March, and the fifth procured for a July delivery window. The four before it cleared successively higher, at $16.74, $17.37, $18.23 and $20.70, the last of which was already the most expensive spot cargo Pakistan had bought since 2022. Not all of the purchased cargoes had berthed at the time of writing, according to our data.
India’s seaborne coal import drop in July, LNG no alternative
High prices are causing a drop in seaborne coal imports to India, though LNG is no alternative due to supply constraints and record prices, leaving Indian utilities struggling to meet soaring electricity demand this summer.
JKM price for September delivery could top $22/MMBtu
The Japan Korea Marker (JKM) for LNG delivery into northeast Asia for September could exceed $22/MMBtu at the start of this week as shipping disruptions widens and competition for Atlantic Basin cargoes intensifies between Europe and Asia.
Pakistan LNG pays dearly for late July cargo
State-owned Pakistan LNG has purchased a cargo for late July delivery at nearly $21.88 per million British thermal units on Monday, its highest price since 2022, Bloomberg reported. In August, Pakistan seeks to buy more cargoes.
Asian LNG demand falls for second year as Qatar disruption bites
Asian LNG demand set to fall for a second consecutive year as Qatari supply disruption pushes spot prices to levels that force buyers to cut volumes and switch fuels. Wood Mackenzie forecasts Asia Pacific demand at 257 million tons (Mt) in 2026, down from 268 Mt in the previous year and a peak of 278 Mt in 2024.
US gas era shifts as Henry Hub seen at $5/MMBtu by 2035
The decade of structurally cheap US gas is drawing to a close, with Henry Hub prices forecast to rise towards $5 per MMBtu by 2035 from below $3 per MMBtu, as LNG demand growth tightens domestic balances, Wood Mackenzie said.
Hormuz: Price ahead of Cargo
The Hormuz risk premium has washed out of gas prices since the US-Iran understanding, leaving TTF and JKM far below their March crisis peaks. The physical data does not yet justify it. Combined Qatari and Emirati exports across the strait reached barely a tenth of normal in June, and the downside remains live.
South Korea cuts LNG-burn, leans more on coal and nuclear
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.
Price volatility upends SPAs as buyers demand flexibility
Prolonged LNG price volatility is upending sales and purchase agreements (SPAs) as traders sound alarm over JCC/Henry Hub swings eroding fixed-price economics. Risk-averse buyers increasingly demand take-or-pay flexibility, diversion rights and reopeners to avert margins getting eroded or wiped out.
Downside risk to LNG supply emerges, Kpler warns
Tightening LNG balances in Europe, amid maintenance across Norway’s pipeline network and lower imports, have made Kpler analysts “slightly bullish” on benchmark TTF gas prices, while restocking in China and stronger Asian demand underpin global LNG markets.
