LNG
Overview
LNG's role as a key feedstock is well established as it helps manage both input costs and carbon emissions. Heavy industrial users' drive to achieve net zero targets has added a new dimension to how and where it is being deployed. Overall, its use is expected to increase and is tipped to become the strongest-growing fossil fuel.
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Latest LNG news
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Algeria cuts gas pipeline flows to Spain
Algeria cuts gas pipeline flows to Spain
London, 21 October (Argus) — Algeria has cut pipeline flows to Spain by around a third so far this month, prompting Spanish firms to boost LNG imports. Inflows at the Almeria entry point have averaged 211 GWh/d in October, down from 322 GWh/d across the rest of 2026 and 324 GWh/d in October last year. Monthly averages have not fallen below 300 GWh/d this year, except in September when maintenance on the Medgaz pipeline halted all flows on 18-21 September. Flows outside that period in September averaged 315 GWh/d. The cause of the drop is unclear. Medgaz's 2026 maintenance schedule, published in January, lists works in October but does not indicate any capacity reduction. The October maintenance cites "TK20 OVH" at "BSCS", which could mean an overhaul at the Beni Saf compressor station, which pressurises gas before transit to Spain. The operator issued notices of full flow stoppages before September works this year. Increased Algerian LNG output suggests upstream maintenance or higher domestic demand are unlikely to be behind the lower pipeline exports. Algeria has exported 729,768t of LNG so far this month, the highest this year apart from May, according to Kpler ship-tracking data. That is below the 1.03mn t exported in October last year, but loadings at the current pace would exceed that figure by the end of the month. Spain has compensated for the lower pipeline supply with additional LNG deliveries. It has imported 1.22mn t so far this month — the most since May but below the 1.62mn t received in October 2025. At the current rate, October imports would exceed last year's total for the month. As of Wednesday afternoon, three more cargoes were indicating arrival before month-end. Algeria supplied part of that increase. Three full-size Algerian cargoes totalling 214,671t have been delivered to Spanish terminals so far this month, the most this year but below the 254,149t delivered in October 2025. By Maxim Krukov Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
QatarEnergy pulls offer for steam turbine LNG carriers
QatarEnergy pulls offer for steam turbine LNG carriers
London, 20 October (Argus) — State-owned QatarEnergy has withdrawn its offer to sell 9-10 older steam turbine LNG carriers, possibly because the company is increasing transits on the strait of Hormuz, for which older carriers are preferred. QatarEnergy initially marketed these LNG carriers in August , but LNG Hormuz transits have ramped up significantly since then. The older, less efficient carriers are near scrap value and have much cheaper insurance for Hormuz transits relative to newbuild carriers, which can be around 10 times the price. Steam turbines carriers have typically been sold for around $11mn-25mn at scrap value, but can be worth up to $48mn if they remain functional for the company. Comparatively, tri-fuel diesel electric (TFDE) can be valued as much as $100mn and newbuild carriers at $250mn, charterers said. Additional war risk premiums to charter steam turbines for loading at LNG terminals in the Mideast Gulf are also much lower than for TFDE and two-stroke vessels. The additional war risk premium is about 10pc of the vessel's outright value. The steam turbine carriers mostly sail to nearby ports such as those in India. But QatarEnergy has also kept older steam carriers near Hormuz, with the 137,000m³ Al Rayyan last month having transshipped a cargo onto a more modern carrier for onward delivery . Initially, market participants thought Russia's Novatek might want the steam turbine carriers because of the upcoming European ban on deliveries from the 17.4mn t/yr Yamal LNG to EU destinations, as well as requirements to serve loadings at the US-sanctioned 19.8mn t/yr Artic LNG 2 terminal. At least eight steam turbine vessels have been sold so far this year for undisclosed business interests, traders said. These ships are likely additions to the Russian LNG fleet. QatarEnergy pulling its steam turbine LNG carriers from sale takes then ships off the market that may have been of interest to Russian buyers. By Anna Pringle Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Chinese LNG bunker demand to quadruple by 2030: Sinopec
Chinese LNG bunker demand to quadruple by 2030: Sinopec
Shanghai, 20 October (Argus) — China's LNG bunkering demand could hit around 2.5mn t by 2030, up from an estimated 650,000t in 2025, according to forecasts presented by state-owned Sinopec at the Chongqing Gas Exchange winter conference on 16 October. The company expects demand to continue rising to 7mn t by 2035 and estimates that around 30 additional LNG bunkering vessels (LNGBVs) will be needed to bunker LNG for customers by then. China's LNG bunkering market remains at an early stage but has expanded rapidly in recent years, with volumes reaching 1.49mn m³ in 2025 from 780,000m³ in 2024 , equivalent to about 650,000t, according to data from local ports and customs authorities. Currently, three companies — Shanghai International Port Group (SIPG), CNPC and CNOOC — operate bonded LNG ship-to-ship bunkering services in China, with a combined fleet of five LNGBVs. While ammonia, methanol and other low carbon fuels are expected to play a larger role in the future, LNG will remain the most practical option for shipping decarbonisation in the coming decades because of its lower costs, established infrastructure and higher level of technological readiness, Sinopec said. SIPG subsidiary SIPG Energy said today that its 20,000m³ LNG bunkering vessel Hai Gang Wei Lai supplied bonded LNG to the French-flagged 8,048-twenty-foot equivalent unit (TEU) LNG dual-fuel containership CMA CGM Taormina at the Shanghai port. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Greek discount opens marginal supply route to Italy
Greek discount opens marginal supply route to Italy
London, 19 October (Argus) — The widening Greek day-ahead price discount to Italy's PSV may strengthen the incentive for shippers to move gas from Greece into Italy through the Trans-Adriatic (Tap) pipeline. The Greek VTP day-ahead discount to Italy's PSV widened to €14.45/MWh on 16 October, marking the widest point for the differential since the start of the month. The Greek-PSV everyday basis market averaged -€11.08/MWh on 1-15 October, strengthening the economic incentive to import gas into Italy, even on a short-term basis ( see graph ). And forecast windy conditions in the Adriatic could keep sendout from Italy's offshore LNG terminals subdued next week, potentially bolstering demand for pipeline imports and further supporting the attractiveness of additional supply from neighbouring markets. The PSV hub premium has continued to attract pipeline inflows to Italy from neighbouring hubs, but a significant premium to Greece offers an attractive arbitrage opportunity. The PSV day-ahead price's premium to Austria widened to €2.015/MWh on 16 October from an average of €1.64/MWh earlier this month, while its premium to Germany increased to €2.955/MWh from €2.659/MWh. In contrast, Italy's premium to France narrowed to €4.76/MWh on 16 October from an average of €4.945/MWh on 1-15 October ( see graph ). TAP flow reversal creates new path to Italian market Bidirectional flows at the TAP's Nea Mesimvria interconnection have created a commercially viable route for Greek gas to reach Italy, but limited available capacity means it may remain a marginal supply option, a market participant told Argus . The Nea Mesimvria interconnection point became bidirectional on 1 October , opening a route for gas exports from Greece to Italy while also allowing reverse flows into the Greek market. The change enables companies to book forward entry capacity at Nea Mesimvria, combined with exit capacity in Melendugno in Italy. The Nea Mesimvria interconnection has roughly 5.56 GWh/d of firm technical entry capacity, equivalent to around 530,000 m³/d, of which 5 GWh/d was allocated under TAP's 2021 market test, leaving only around 560 kWh/d available for booking. TAP can also offer up to 24 GWh/d of day-ahead interruptible capacity, equivalent to roughly 2.3mn m³/d or 850mn m³/yr, subject to system availability. TAP has received continuous day-ahead bookings for both firm and interruptible capacity since 4 October, indicating market interest in the new entry point. The cost of transporting gas from Nea Mesimvria to Melendugno on a day-ahead basis is around €5.3/MWh, based on Argus' calculations, with no usage charge included. Greece-to-Italy exports are currently an attractive arbitrage opportunity, and domestic Greek licence holders can access the route without the need additional approvals, a market participant told Argus. By Victoria Dovgal Greece DA vs PSV DA €/MWh PSV vs THE vs PEG vs Austria VTP €/MWh Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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