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.
At Argus, we expertly provide in-depth and reliable perspectives on the international LNG market. Our clients receive live access to critical data sets and analytics, comprehensive analysis and market-moving industry news. Our LNG service is the product of our market experts, who are based in all of the principal LNG trading hubs around the world.
Companies, trading firms and governments in 160 countries trust our data to support making more intelligent decisions, analysing situations, managing risk, facilitating trading and long-term planning.
Latest LNG news
Browse the latest market moving news on the global LNG industry.
Hormuz transits sparse after US-Iran clashes: Update
Hormuz transits sparse after US-Iran clashes: Update
Updates with details throughout London, 12 July (Argus) — Ship transits through the strait of Hormuz fell further following fresh clashes between the US and Iranian militaries over the weekend. US and Iranian forces both expanded their attacks for two consecutive days on Saturday and Sunday, hitting defense targets and, in the case of Iran, resuming attacks on ships and oil infrastructure in the Mideast Gulf. US forces launched another round of attacks against Iran at 22:00 GMT on Sunday, according to US Central Command (Centcom), which oversees Middle East-based US forces. Iran's forces earlier on Sunday targeted Kuwaiti border checkpoints and an offshore oil facility, Kuwait's defense ministry said. Iran's Islamic Revolution Guards Corps (IRGC) said early on Sunday that the strait of Hormuz would be closed until further notice, after the US on Saturday carried out another round of strikes on Iranian military targets. IRGC also claimed that its attacks on a Kuwait-based US military base resulted in US casualties. Centcom disputed the claim. Centcom also disputed Tehran's claim of having shut down Hormuz. "Iran does not control the strait," Centcom said in a social media post. "Traffic is flowing." But visible AIS data from MarineTraffic showed no traffic through the strait, although vessels may be transiting with tracking systems switched off. The growing security risk could limit such attempts and threaten the nascent recovery in Gulf crude and product exports. Iran's forces appeared to have attacked Cyprus-flagged containership GFS Galaxy as it transited the strait of Hormuz via the southern route near Oman on Saturday. The vessel was hit nine nautical miles east of the Omani coast, prompting the crew to abandon the ship in a lifeboat. The lifeboat has since been rescued by local authorities, the UK Maritime Trade Operations (UKMTO) said. The vessel appeared to have its AIS tracking switched off at the time. In a separate IRGC statement carried by the Sepah news agency early on Sunday, the force claimed its aerospace arm had struck logistics support centres and refuelling platforms linked to US aircraft carriers at Duqm port in Oman. Duqm is a significant distance from the strait of Hormuz and was hit in the early days of the war, but it has been less severely affected since. Oman's state news agency also reported drone strikes across Musandam governorate, Oman's northernmost governorate. Oman condemned the attacks, the agency added. By John Ollett, Rithika Krishna and Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Iran says Hormuz shut after fresh US attacks
Iran says Hormuz shut after fresh US attacks
London, 12 July (Argus) — Iran's Islamic Revolution Guards Corps (IRGC) said early on Sunday that the strait of Hormuz would be closed until further notice, after the US carried out another round of strikes on Iranian military targets on 11 July. "The strait of Hormuz will be closed until further notice and until the end of American interventions in this region, and no vessels will be allowed to pass through," the IRGC-affiliated Tasnim news agency said. US Central Command (Centcom) later challenged the closure claim. "The strait of Hormuz is open to all vessels seeking to lawfully transit the international waterway," Centcom said on X. "Iran does not control the strait. Traffic is flowing." The conflicting statements deepen uncertainty over shipping through the key Gulf waterway and raise the risk of renewed disruption to oil and LNG flows from the region. The latest US strikes followed an attack on the containership GFS Galaxy as it transited the strait of Hormuz via the southern route near Oman. Centcom said it began the strikes at 19:15 ET (23:15 GMT) on 11 July, after IRGC forces attacked the Cyprus-flagged vessel. "A civilian crew member is missing and the vessel is unable to continue the journey due to an onboard fire and significant engine-room damage," Centcom said. The vessel was hit nine nautical miles east of the Omani coast, prompting the crew to abandon the ship in a lifeboat. The lifeboat has since been rescued by local authorities, the UK Maritime Trade Operations (UKMTO) said. The vessel appeared to have its AIS tracking switched off at the time. Centcom said the US completed a third round of strikes against Iran on 11 July, hitting about 140 Iranian military targets. Targets included Iranian missile and drone sites, naval capabilities, ammunition storage facilities, communication networks and coastal surveillance locations, it said. In a separate IRGC statement carried by the Sepah news agency early on Sunday, the force claimed its aerospace arm had struck logistics support centres and refuelling platforms linked to US aircraft carriers at Duqm port in Oman. Duqm is a significant distance from the strait of Hormuz and was hit in the early days of the war, but has been less severely affected since. Oman's state news agency also reported drone strikes across Musandam governorate, Oman's northernmost governorate. Oman condemned the attacks, the agency added. Visible AIS data from MarineTraffic showed no traffic through the strait, although vessels may be transiting with tracking systems switched off. But the growing security risk could limit such attempts and threaten the nascent recovery in Gulf crude and product exports. By John Ollett and Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia's east coast to have surplus gas in 4Q: ACCC
Australia's east coast to have surplus gas in 4Q: ACCC
Sydney, 10 July (Argus) — Gas supply volumes entering Australia's east coast grid will be more than sufficient to meet demand in October-December, the Australian Consumer and Competition Commission's (ACCC) Gas Inquiry June 2026 interim report said. The east coast gas market is predicted to have a 13PJ (347mn m³) surplus even if LNG producers export all their uncontracted gas, the ACCC reported on 10 July. The October-March period is generally a time of lower gas demand due to warmer temperatures and higher wind and solar power generation. The forecast is the highest surplus predicted for the final quarter of the year since 2023. A possible 12PJ shortfall in July-September forecast in the ACCC's March report is unlikely to emerge because Shell-operated QGC's rescheduling of maintenance from April to July may result in exports over this period dipping by up to 8PJ and similar volumes made available to the domestic market, the ACCC said. The Iona storage facility is at record levels for this time of year, the report noted. The 26PJ facility in Victoria state is at 82pc of capacity on 10 July, up from 64pc a year earlier. The ongoing conflict in the Mideast Gulf region has had no material impact on domestic spot prices and demand and prices remain suppressed, the ACCC said. The federal government plans to oversupply the eastern states' domestic grid from July 2027 via a domestic supply obligation (DSO) equal to 20pc of LNG exports imposed on Australia's 10 LNG projects. The aim is to further push down gas prices, but the DSO is opposed by most gas producers and Queensland's state government . Supply boost needed Long-term supply projections confirm more investment is needed to meet demand, the ACCC said on the proposed DSO. Policies must incentivise investment and promote greater diversity and competition in supply, the report said. Gladstone-based LNG producers control about 84pc of proved and probable (2P) eastern states reserves directly or via purchases from associated entities. These producers must further develop their reserves and resources to meet obligations, particularly under a DSO, the ACCC said. "Reducing barriers for new entrants and producers seeking to develop prospective resources would help increase and diversify supply, increase competition and put downward pressure on prices over the longer term," ACCC commissioner Anna Brakey said. Domestic gas demand has been sluggish so far this Australian winter, due to higher temperatures and increased battery storage, reducing demand for both heating gas and gas-fired power generation. By Tom Major Eastern LNG producers' longer-term position, 2028-38 PJ 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2P production 1,301 1,241 1,134 1,067 1,019 952 895 841 781 716 664 Third party purchases 196 241 244 251 263 280 282 276 260 251 239 Total supply 1,497 1,482 1,377 1,318 1,282 1,231 1,177 1,116 1,041 967 902 Sales to the domestic market 83 83 84 73 60 56 36 16 16 16 16 LNG SPAs 1,290 1,317 1,263 1,251 1,246 1,222 1,223 1,068 113 - - Total demand 1,373 1,400 1,348 1,324 1,306 1,277 1,259 1,084 129 16 16 Source: ACCC Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US launches new strikes against Iran
US launches new strikes against Iran
Washington, 8 July (Argus) — US forces launched a new wave of attacks on Iran after President Donald Trump said on Wednesday the US-Iran ceasefire was "over". The air strikes, for a second night in a row, are meant to retaliate against Iranian attacks earlier this week on three commercial vessels attempting passage through the strait of Hormuz, the US Central Command (Centcom), which oversees the Middle East-based US forces, said at 5:15pm ET on Wednesday. Centcom carried out strikes on Iranian defense targets late on Tuesday, and Iranian forces retaliated with drone and missile attacks at US military installations in the Mideast Gulf. Iran's response so far has spared its neighbors' energy infrastructure. "As far as I'm concerned, it's over," Trump said on Wednesday of the ceasefire established by the US-Iran interim deal he signed on 18 June. Trump, in remarks at a Nato summit in Turkey, previewed the forthcoming attacks and said he may re-establish the US naval blockade that was removed last month. The US will continue strikes on Iranian military targets until Tehran agrees to fully reopen the strait of Hormuz to navigation and stops attacking vessels passing through it, US vice president JD Vance said on Wednesday. Trump, who said last month that the US would be unable to reopen Hormuz by military means alone, said he was no longer willing to negotiate with Iran. "I'm not sure I want to make a deal with them," Trump told reporters at the conclusion of the Nato summit. "Let's just finish the job," he said. Vance, who led the US diplomacy with Iran over sanctions relief and a ceasefire in Lebanon, on Wednesday described the interim US-Iran deal as hinging on the status of navigation through Hormuz. "The basic deal that we cut was, 'we'll lift our blockade if you stop shooting at ships,'" Vance told reporters during a visit to Wisconsin. "The strait of Hormuz is going to be open," Vance said. "That means oil and gas is going to flow to the American people." If Iran continues attacking ships in Hormuz, there will be a US military response, Vance said. The resumption of intense clashes between the US and Iranian militaries sent oil prices higher. August Nymex WTI rose by $3.08/bl to settle at $73.52/bl on Wednesday. Trump has touted the decline in crude futures since the US-Iran interim deal on 18 June, but he has expressed frustration at the slower pace of decline in US retail fuel prices. Trump has ordered federal prosecutors to begin looking into whether consumers were being "gouged" by oil companies, and his administration has invited state officials to join the federal probe. Tehran is talking tough too Tehran anticipated the resumption of US attacks and threatened to respond strongly to them. Tehran also vowed to fully close navigation through Hormuz. The 18 June deal called for the strait of Hormuz to fully reopen to commercial traffic, and for Tehran to receive limited sanctions relief in return. But key terms began to unravel well ahead of the 21 August deadline that the countries set to thrash out the final details of a peace agreement, including the fate of Iran's nuclear program. Tehran has been keen to preserve its control over the strait of Hormuz and has been attacking ships crossing close to the coast of Oman, in a section of the strait where the US and the International Maritime Organization have encouraged transits. The US on Tuesday revoked authorization to allow purchases of Iranian crude, refined products and petrochemicals. The US-Iran clashes since Tuesday followed an increase in hostile rhetoric from both countries, after Trump on 5 July said that the US passed on a chance to assassinate the Iranian leadership during the belated funeral for former supreme leader Ali Khamenei, who was killed in a US strike on 28 February. "We said, 'Go and do your funeral stuff,'" Trump said on Wednesday. "And instead of that, they start shooting rockets at ships yesterday." By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
Explore our LNG products
Real time access to our independent and trusted benchmarks, critical market data and analytics, in-depth analysis, and the latest market news. Argus LNG is relied upon by energy companies, governments, banks, regulators, exchanges and many other organizations as source of reliable and unique insights into the global markets.
Key price assessments
Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.


