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
Browse the latest market moving news on the global LNG industry.
US House passes bill to expedite permitting
US House passes bill to expedite permitting
Washington, 18 December (Argus) — The US House of Representatives on Thursday approved a bill designed to fast-track permitting for energy projects and reduce related litigation risks. But a last-minute change Republicans made to exclude some offshore wind and solar projects led some Democrats and a major clean energy group to withdraw support, complicating the bill's chances of passage in the Senate. The Republican-controlled House voted 221-196 to pass the SPEED Act, with 11 Democrats crossing the aisle to vote for what would be the most significant changes to federal permitting in years. The bill will now advance to the US Senate, where proponents will likely need to agree to make significant changes if they hope to pick up the votes of at least seven Democrats to avoid a filibuster. The bill "finally brings common sense by cutting red tape that dramatically increases the cost and, in some cases, just makes it economically unfeasible to do projects", House Republican majority leader Steve Scalise (R-Louisiana) said. The SPEED Act focuses on revising project reviews under the National Environmental Policy Act (NEPA), which is a source of delay and litigation risk for pipelines and renewable projects alike. The bill would require federal agencies to narrow those reviews and uphold those decisions even if federal courts find them to be inadequate. The bill would also provide permit "certainty" by limiting the government's ability to rescind prior approvals, averting a repeat of events like the cancellation of the Keystone XL pipeline. "We applaud the House for advancing the SPEED Act, a bipartisan, commonsense step toward fixing a federal permitting system that's long been broken," oil industry group the American Petroleum Institute said. Republican leaders were hoping 30-40 Democrats would join them to support the SPEED Act. The bill had broad bipartisan support when it was drafted because of provisions meant to prevent permitting delays that have plagued both oil and gas pipelines and renewable energy development. But Republican leaders, to satisfy far-right conservatives, made a change to the bill earlier this week that would prevent its expedited permitting procedures from benefiting any project that Trump's administration has blocked or revisited since 20 January. The Trump administration has targeted multiple offshore wind and solar projects this year and has ordered the developer of the nearly complete 704MW Revolution Wind project off the coast of Rhode Island to stop construction. That change fractured a bipartisan coalition that had spent months working on technology-neutral permitting language. The American Clean Power Association, the largest industry group for US renewable energy, on Wednesday withdrew its support of the bill , arguing the "poison pill amendment" that Republicans made eviscerated bipartisan language that gave expedited permitting treatment for all types of energy resources. A number of House Democrats who had backed the bill also withdrew their support. American Clean Power plans to work with both parties in the Senate to make changes. "This is not the final draft," representative Scott Peters (D-California) said during floor debate Thursday, vowing to work with his colleagues in the Senate to address House Democrats' concerns. By Chris Knight and Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
LNG supply growth outstrips carrier orderbook to 2030
LNG supply growth outstrips carrier orderbook to 2030
With the acceleration of scrapping of LNG carriers, the number of newbuilds is insufficient to keep pace with supply growth, writes Cerys Edwards London, 17 December (Argus) — The number of newbuild LNG carriers scheduled to deliver by 2030 will not be enough to transport the planned growth in global liquefaction capacity, particularly if the retirement of older vessels accelerates compared with recent years. But the balance in the freight market will depend heavily on the configuration of LNG trade flows over the rest of the decade. Some 234 newbuild LNG carriers are scheduled to be delivered over 2026-2030, according to data from the International Maritime Organisation (IMO), with deliveries in 2026 set to be the quickest year on record. Typically, around 1½ ships are needed to transport 1mn t of new liquefaction supply to Europe, and three ships for the equivalent journey to Asia, Capital Clean Energy Carriers chief executive Jerry Kalogiratos said at the World LNG Summit in Istanbul in December. Applying this basic assumption, the 234 newbuild carriers could transport some 158mn t/yr of new liquefaction capacity were the supply to deliver solely to Europe. But the newbuilds provide scope for just 78mn t/yr of new loading demand should the vessels deliver to Asia, which Kalogiratos considers the more probable scenario, given that buyers in southeast Asia are likely to consume more LNG in the forthcoming years. "There definitely looks like there is going to be a shortage", he says. Both scenarios indicate that the present LNG carrier orderbook is not large enough to accommodate the 229mn t/yr of new export capacity scheduled to come on line by 2030, judging by the projects that have already reached a final investment decision (FID). And the LNG carrier market could tighten further if more projects reach FID. Even the roughly 80mn t/yr of additional production capacity that was sanctioned this year are "not yet covered," according to David Colson, vice president at French engineering firm GTT, which supplies nearly all of the membrane containment systems used in LNG vessel tanks. The golden age of steam coming to an end? The LNG freight market balance over the coming years will also largely depend on the number of older vessels being scrapped, which rose sharply this year. A record 14 steam turbines have been sold for scrap so far in 2025, up from eight in the whole of 2024 and an average of five over 2020-24. And the pace of scrapping is likely to accelerate over the next few years, as vessels roll off long-term charter agreements, Kalogiratos says. Steam turbine carriers are "obsolete" as their high boil-off costs and smaller cargo capacity sizes do not provide the "flexibility that the current LNG trading environment requires", he added. There are 29 operational LNG carriers that are 25 years old or older, including the 137,000m³ Puteri Nilam and same-sized Al Jasra which have in recent months idled in the strait of Malacca and Bay of Brunei, according to shiptracking data from Kpler. The oldest LNG carrier still in operation is the 128,000m³ LNG Maleo , which was built in 1989 and is controlled by Indonesia's state-owned Pertamina. As well as these vessels, there are a further 47 built in 2000-2005, including 11 idling in either Malacca or Brunei Bay. These are likely to be retired by 2030, given the average age of the vessels sold for scrap in 2025 was 26, Norwegian shipping firm Flex LNG said in its third-quarter earnings call last month. Were all 76 vessels built before 2005 scrapped by 2030, it would limit the fleet growth to a total of just 158 LNG carriers. Under the scenario outlined above this number of vessels could transport 105mn t/yr of supply to Europe and just 53mn t/yr to Asia — both far below the planned capacity buildout. The LNG carrier orderbook could still grow in the coming years however, given slots for late 2028 delivery are still available at some South Korean shipyards. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Australia coal, Fe prices to fall; LNG up: Treasury
Australia coal, Fe prices to fall; LNG up: Treasury
Sydney, 17 December (Argus) — Australian iron ore, coking coal, and thermal coal prices are expected to decline by the end of December 2026, while LNG prices may rise from current levels, according to Treasury forecasts released on 17 December. Australian commodity prices are expected to return to long-run fundamental levels, Treasury said in its Mid-Year Fiscal and Economic Outlook for the 2025-26 financial year ending 30 June. Thermal Coal Australia's thermal coal prices have been supported by ex-China demand since Treasury released its July 2025-June 2026 budget on 25 March, Treasury said. But it does not expect this trend to continue. Treasury forecasts Australian thermal coal spot prices will fall to $70/t on a fob basis by the end of December 2026, down from current levels. Argus ' Australian NAR 6,000 kcal/kg fob Newcastle price was last assessed at $108.46/t on 16 December, up from $95.62/t on 25 March. Australian thermal coal exports to China fell 11pc on the year in January-October ( see table ), while shipments to Japan, South Korea, Vietnam, and Malaysia rose, data from the Australian Bureau of Statistics show. Steelmaking Inputs Chinese economic policy support has lifted iron ore and metallurgical coal prices since March, Treasury said. But it expects Australian iron ore and coking coal spot prices to fall to $60/t and $140/t fob, respectively, by the end of 2026. Argus ' metallurgical coal premium hard low-volatile fob Australia price was last assessed at $215.10/t on 16 December, while its iron ore fines 61pc Fe (ICX) fob Australia netback price was last assessed at $90.55/t. Treasury also expects mining investment to remain unchanged over the next two years, largely because of the iron ore and coking coal sectors. Iron ore producers may invest in projects to maintain production, but coking coal producers are expected to run down their capital stock, Treasury said. Producers are looking to sell or finance around six Queensland coking coal mines, a market participant told Argus on 2 December. Petroleum LNG prices have declined since March because of China's shift toward non-Australian gas, Treasury said. Australian LNG spot prices are expected to reach $10/mm Btu by the end of December 2026, according to Treasury forecasts. Argus ' Gladstone fob price — an LNG netback indicator — was last assessed at $9.01/mm Btu on 16 December, down from $12.90/mm Btu on 25 March. China plans to prioritise pipeline and domestic gas over LNG imports in the coming years, PetroChina International's global head of LNG Yaoyu Zhang said on 4 December. Treasury also expects global oil prices to hover around $66/bl over the next four years, down from its March estimate of $81/bl. Australia's government will raise less revenue from its petroleum resource rent tax than previously expected because of the downgrade, the agency added. The tax is forecast to generate A$1.5bn in 2025-26, down from the earlier estimate of A$1.95bn. By Avinash Govind Treasury Commodity Forecasts (Mid-Year Economic and Fiscal Outlook) $ Commodity Argus Price (most recent)* Forecasted Price* Change (%) Coking Coal 215.1/t 140/t -35.0 Thermal Coal 95.62/t 70/t -26.8 Iron Ore 90.55/t 60/t -33.7 LNG 9.01/mm Btu 10/mm Btu 11.0 * Argus' Australian NAR 6,000 kcal/kg fob Newcastle; metallurgical coal premium hard low-volatile fob Australia; Argus' Gladstone fob; Iron ore fines 61pc Fe (ICX) fob Australia netback * fob Australia basis, at end of December 2026 Argus, Commonwealth of Australia Australian thermal coal exports mn t Market Jan - Oct '25 Jan - Oct '24 YTD Change (%) China 53 60 -11 India 2.9 3.4 -16 Japan 59 59 0.5 South Korea 11 9.7 12 Vietnam 13 9.6 37 Malaysia 5.9 5.4 11 Australian Bureau of Statistics Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Romanian gas demand to rise on higher power-sector use
Romanian gas demand to rise on higher power-sector use
London, 16 December (Argus) — Romanian gas demand is expected to increase next year as a result of new gas-fired power capacity starting up, although the extent of demand growth could be limited by project delays. Romanian gas consumption averaged 257 GWh/d on 1 January-14 December, below full-year 2024 demand of 283 GWh/d, and only slightly above a historic low of 256 GWh/d in 2023 ( see graph ). Romanian industrial users and power generation have accounted for 24pc of gas consumption so far this year, with 76pc coming from residential demand. Romanian gas demand had been increasing until the energy crisis of 2022, supported by growing household grid connections and coal-to-gas switching in power generation. Romania's ability to become net exporter following the commissioning of the Black Sea Neptun Deep field will depend on where domestic consumption stabilises. This will determined by the buildout and utilisation of gas-fired power plants and industrial gas consumption. Romania plans to replace coal-fired power plants with new gas-fired combined-cycle gas turbine (CCGT) plants and cogeneration units, which may support domestic gas needs in the next few years. Romanian gas-fired output has totalled 8.9TWh this year, accounting for 20pc of power generation, down from 10.3TWh for 2024. The country planned to decommission 3,780MW of coal and lignite-fired generation capacity by the end of 2025, before phasing out these fuels from the power mix by 2032. But Romania has renegotiated with the EU to postpone the coal phase-out until the end of 2029 because of slow progress building gas-fired plants. This will ensure the security of the domestic energy system and guarantee the country avoids blackouts during the winter, energy minister Bogdan Ivan said. Under the new schedule, Romania will have 900MW of lignite-fired units operational until the end of 2029. Coal has made up 14pc of the generation mix so far this year, unchanged from a year earlier. Romania has not added any thermal capacity in recent years, but several CCGT units are expected to be commissioned next year. The start-up of the long-awaited 430MW Iernut CCGT — previously expected at the end of this year — has been pushed back to the second quarter of 2026. The 1.75GW Mintia CCGT is due to come on line by the end of next year, while a 53MW gas-fired combined heat and power plant in Constanta, southeast Romania, is scheduled to begin operations by June 2026. An 850MW CCGT plant is also planned at Isalnita. These projects could boost combined power-sector gas demand by over 4bn m³/yr in 2026, Argus estimates, assuming they are running at maximum capacity. But the Isalnita project may struggle to come on line next year, while the other projects could experience further delays. And Romania's reliance on gas for power generation is likely to increase further in the coming years because a 700MW unit at the Cernavoda nuclear plant is scheduled to shut down for modernisation in 2027-29. But Romania has also been expanding renewable capacity, which could limit uptake of gas in power generation. The country added 1.2GW of solar capacity over the first 11 months of 2025, up from 303MW in 2024. Total solar capacity stood just above 3GW at the end of November, while solar output has averaged 327MW so far this year, up by 75MW from 2024. But just 41MW of wind capacity has been added so far this year, down from 69MW in 2024. Azomures' gas demand could rise next year Fertiliser producer Azomures, Romania's largest gas consumer, restarted part of its production in July after 11 months of downtime, and the firm may restart nitrogen production next year in response to an anticipated increase in import prices caused by the EU's Carbon Border Adjustment Mechanism and lower natural gas costs, according to a market participant. Romanian industrial output fell by 0.5pc year on year in January-October, the national statistics office said on Monday. The European Commission expects Romanian GDP to grow by 0.7pc this year, 1.1pc in 2026 and 2.1pc in 2027, it said on 17 November. This could support industrial gas demand growth in the coming years. Domestic onshore production is projected to decline towards 2035, but output from Neptun Deep — owned 50:50 by domestic firm Romgaz and Austrian OMV — is scheduled to start in 2027. The project aims to increase the country's gas output to 18bn-20bn m³/yr from 8bn-10bn m³/yr at present, bringing "Romania full import independence and even net-export status from 2027", the government has said. Romgaz has received government approval to assess a potential acquisition of Azomures. Romgaz could provide access to reliable supply, potentially changing the market position of the chemical producer. Assuming Azomures operates at full capacity, Romanian gas consumption could rise by 1.2bn m³/yr, according to grid operator Transgaz ( see table ). By Victoria Dovgal Sources of Romanian gas demand growth bn m³/yr Project Demand 1.75GW Mintia power plant 2.5 850MW Isalnita CCGT 0.8 475MW Turceni CCGT 0.8 430MW Iernut CCGT 1.0 Azomures fertiliser plant 1.2 Piatra-Neamt chemical plant 0.8 Household sector 3.0* * target — Transgaz Romanian gas consumption TWh Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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