LNG

The European Union adopted a measure last week to phase out imports of Russian LNG: short‑term contracts within six months and long‑term contracts by 1 January 2027. Our cargo-level data shows Russian exporters have already begun rerouting volumes eastward, with European receipts falling more than half whilst Asian shipments reach record levels. However, the seasonal closure of the Northern Sea Route in winter 2026/2027 – just when the ban takes full effect – threatens to strand significant Russian volumes as economically viable export routes to Asia become scarce.

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Venture Global moved to introduce natural gas into the final section of its Plaquemines LNG plant on 20 October, a procedural step that could bring the facility to its full capacity of 27.2mtpa once approved. The advance accelerates US export capability and affects spot cargo availability and contracting dynamics.

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September LNG Flows Decrease as Pacific Contractions Offset Atlantic Growth and Steady Middle Eastern Output

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This year has seen a rebound in LNG seaborne trade with global exports increasing by 4.6% year-on-year to 317.2 mill tonnes during the period January to September, from 303.2 mill tonnes for the same period last year, according to a recent report from Italian broking house, Banchero Costa.