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.
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.
Adnoc adjusts flows, deliveries to maintain supplies
Adnoc adjusts flows, deliveries to maintain supplies
Dubai, 7 March (Argus) — Abu Dhabi state-owned Adnoc said its operations continue despite the escalating regional conflict and disruption to tanker movements through the strait of Hormuz, with the company adjusting flows and deliveries to maintain supplies to global markets. Adnoc, in its first statement since the war between Iran and the US-Israel coalition began a week ago, said it has activated established contingency protocols and is working with authorities to safeguard personnel, assets and operations as the conflict continues to disrupt shipping across the Middle East Gulf. "As a responsible operator, Adnoc is carefully managing offshore production levels to address storage requirements," the company said, signalling that output could be adjusted as logistics constraints affect the pace of exports. Business units are assessing the situation "product by product and transaction by transaction," the company said, while sales and trading teams are engaging with customers whose cargo schedules may be affected by the logistical challenges in the region. The company said it continues to utilise export routes that bypass the strait of Hormuz and draw on its international storage network to maintain supply continuity. It is also managing offshore production levels to address storage requirements and preserve operational flexibility while ensuring the safety of staff and infrastructure. The UAE can bypass the strait using the Abu Dhabi Crude Oil Pipeline (ADCOP), also known as the Habshan-Fujairah pipeline. The pipeline, which has a nameplate capacity of 1.5mn b/d, transports oil from Abu Dhabi's fields directly to the port of Fujairah on the Gulf of Oman, feeding its storage terminals and refining facilities. Adnoc also said onshore operations continue, without offering further details on production levels. Opec member UAE produced 3.53mn b/d of crude in February, according to Argus . Sources with knowledge of the matter said the company is taking a highly granular approach to supply management rather than implementing blanket export restrictions or declaring force majeure. Instead, Adnoc is working with buyers on cargo timing adjustments, delivery extensions and trading arrangements designed to keep barrels moving despite the disruption to shipping. Adnoc is leveraging the flexibility of its integrated system — including refining capacity, storage infrastructure and its trading arm — to balance crude flows and maintain supply commitments where possible, Argus understands. The disruption to tanker traffic follows a week of Iranian missile and drone strikes targeting infrastructure across several Gulf states in retaliation for US and Israeli attacks on Iranian military and nuclear facilities that began on 28 February. Kuwait's state-owned oil firm KPC today said it has started to reduce crude output and refinery runs after oil exports were effectively halted by the war. KPC also issued a force majeure notice on its crude and refined products exports, according to a 7 March statement seen by Argus . Kuwait exported about 1.9mn b/d of crude and 860,000 b/d of refined products through the strait of Hormuz in 2025, according to Kpler. The conflict has already resulted in multiple attempted strikes on regional energy infrastructure. Saudi Arabia said earlier on Saturday that its air defences intercepted 20 drones launched in five waves toward Saudi Aramco's 1mn b/d Shaybah oil field in the Empty Quarter desert. Earlier in the week, Saudi Arabia's 550,000 b/d Ras Tanura refinery sustained limited damage from falling debris after drone interceptions, while Bahrain's 405,000 b/d Sitra refinery and storage facilities at the ports of Fujairah in the UAE and Duqm in Oman were also targeted. By Bachar Halabi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Iran says to halt strikes on neighbours unless attacked
Iran says to halt strikes on neighbours unless attacked
Dubai, 7 March (Argus) — Tehran will halt attacks on neighbouring countries unless attacks against Iran originate from their territory, Iranian president Masoud Pezeshkian said in remarks broadcast on Saturday on Iranian state television. "We do not intend to violate or assault our neighbouring countries – they are our brothers," Pezeshkian said, adding that Iran's temporary leadership council had instructed the armed forces "not to attack neighbouring countries or fire missiles at them unless attacks on us are carried out from those countries." Pezeshkian also apologised to Mideast Gulf states that had been struck during the past week of hostilities. But his remarks came against a backdrop of continued missile threats across the region. Saudi Arabia said earlier on Saturday that its air defences intercepted 20 drones launched in five waves toward Saudi state-controlled Aramco's 1mn b/d Shaybah oil field in the Empty Quarter desert. The attempted strike on Shaybah marked the first attack on a major upstream oil asset since the conflict began. The UAE's air defence systems were also on Saturday intercepting incoming projectiles, according to the country's ministry of defence, while earlier in the day, Dubai International Airport temporarily suspended operations after debris from an intercepted projectile fell in the vicinity of the facility, the Dubai Media Office said. UAE airline Emirates said flights have since resumed and operations returned to normal. Iran has launched repeated missile and drone attacks against targets across the Middle East in retaliation for the US and Israeli air strikes on Iranian military and nuclear facilities which began on 28 February. Those strikes have included airports and ports, in addition to attempts to hit energy infrastructure in several Mideast states. Aramco's 550,000 b/d Ras Tanura refinery, in the kingdom's eastern province on its Mideast Gulf coast, sustained limited damage earlier this week from falling debris after drone interceptions. Bahrain's 405,000 b/d Sitra refinery was also struck, causing a fire at an unspecified unit, while storage facilities at the ports of Fujairah in the UAE and Duqm in Oman have been hit. The attacks have effectively halted tanker traffic through the strait of Hormuz, a critical chokepoint through which around 14mn b/d of crude and 3mn b/d of refined products transited before the conflict. The war in the Middle East sent North Sea Dated crude up by almost $23.50/bl in the week to 6 March, the biggest weekly gain since Argus' records began in early 1990. By Bachar Halabi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Weather risks support UK April gas price
Weather risks support UK April gas price
London, 6 March (Argus) — The potential for a cold snap to drive strong UK import demand in spring has helped to lift its gas prices to a premium to nearby markets this week, given the shift to a tighter global LNG balance. The UK NBP front-month price rising above neighbouring markets at least partly reflects the UK's heightened vulnerability to global LNG supply disruptions in the event of a cold snap, despite sufficient supply in the country under normal weather conditions. The UK March, April and May contracts have all moved above nearby markets this week from discounts previously, as traders reacted to the halt of transit through the strait of Hormuz and the shut-in of all Qatari LNG supply. The NBP front-month price closed at a 0.875p/th premium to the Dutch TTF on Thursday and was 2.15p/th above France's Peg and 1.26p/th above Belgium's ZTP. QatarEnergy holds long-term capacity at the South Hook and Isle of Grain terminals, so the heightened price reaction in the UK may be partly because of traders factoring in the loss of this supply. But the premium for the spring period may be largely down to weather risks. Given the UK's limited storage space relative to demand, the country is dependent on LNG imports to meet spikes in demand in the winter. And available LNG supply for Europe is poised to be low in April, given diversions to Asia. UK LNG sendout could only be a fraction of 15.8mn m³/d in April last year and the 40.6mn m ³/d three-year average for the month. If the UK were to face a cold snap in April, NBP prices might need to rise sharply to attract extra LNG supply to the UK and encourage firms to direct Norwegian pipeline gas to the UK ahead of other markets. UK gas consumption would average 152.2mn m³/d in April if the relationship between aggregate consumption and degree heating days (HDDs) is in line with that in April across the past three years and HDDs match the 10-year average. This would be up from 127.1mn m³/d in April last year. But a repeat of the coldest April in the past 10 years would boost consumption to 177.6mn m³/d. Domestic production will only cover part of this demand. Production could be 78.8mn m³/d in April, down from 84.6mn m³/d a year earlier, if it falls in line with the most recent projections from the North Sea Transition Authority. If Norwegian pipeline flows to the UK hold steady from their rate, according to nominations in the past three days, the UK would receive a net 88.6mn m³/d from Norway. Assuming barely any flow in either direction on the BBL and Interconnector pipelines — in line with 4-5 March — the UK would have supply in excess of consumption of 15.2mn m³/d in an average HDD scenario. But a cold April would leave 10.2mn m³/d unmet through domestic demand and pipeline flows. Even if UK storage was used to meet some of the supply gap, this is unlikely to be enough to cover the entire shortfall. The UK held 6.7TWh of gas in storage as of Friday morning. And additional maintenance at Norwegian and UK assets or weak renewable generation could further tighten the supply-demand balance for April. Norwegian production capacity constraints are planned at 9.5mn m³/d for April, up from 6.2mn m³/d in March but below 26.6mn m³/d a year earlier, according to Norwegian offshore operator Gassco. But additional unplanned maintenance may further weigh on flows. Meanwhile, UK gas grid operator National Gas expects 6mn m³/d of capacity to be unavailable at the Barrow gas terminal throughout April, according to a Remit message. Flows at the terminal averaged 300,000 m³/d in February and 1.7mn m³/d in April last year. And in a scenario with an extended period of Dunkelflaute — when cold, cloudy and still weather cuts renewable generation — gas consumption for power generation would rise sharply, which would further tighten the balance. By Lucas Waelbroeck Boix Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
WTI breaks through $90/bl intraday
WTI breaks through $90/bl intraday
Calgary, 6 March (Argus) — WTI crude futures broke through $90/bl in trading earlier on Friday with the US-Iran war now in its seventh day and a resolution far from clear. April Nymex WTI was trading at $90.13/bl by 12:00pm ET on Friday, up by $9.12/bl from the prior day settle with the US, Israel and Iran exchanging fire throughout the region. Prices have climbed by more than $23/bl, or 35pc, in the past week with fighting in the Middle Ease curtailing supply. Most vessel owners are unwilling to transit the strait of Hormuz — a key chokepoint for oil and LNG exports from the Mideast Gulf — although some vessels have make the journey . Iran's president Masoud Pezeshkian said on Friday that mediation efforts are underway to help end the war in the Middle East. "Some countries have begun mediation efforts," Pezeshkian said in a post on social media platform X. He did not name any. But US president Donald Trump posted on his social media platform hours later that "There will be no deal with Iran except UNCONDITIONAL SURRENDER!". The US administration is relaxing its sanctions against Russia's energy sector to allow India to temporarily import Russian crude, as a way to mitigate Mideast Gulf supply disruption in the wake of the US-Israel war against Iran. The waiver released late on Thursday by US Treasury Department's sanctions enforcement arm Office of Foreign Assets Control will allow importers in India to buy Russian crude loaded on or before 5 March and deliver it to a port in India on or before 4 April. South Korea's government is in talks with the country's refiners about measures to manage the fallout from the Iran conflict , including tapping the country's strategic petroleum reserve (SPR) and possibly imposing a ban on oil product exports, sources told Argus today. By Brett Holmes 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.