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.
Japan’s Shimane reactor to shut for Feb-Aug turnaround
Japan’s Shimane reactor to shut for Feb-Aug turnaround
Osaka, 9 January (Argus) — Japanese utility Chugoku Electric Power plans to shut its 820MW Shimane No.2 nuclear reactor from February-August to carry out maintenance works. Chugoku will close the No.2 reactor at Shimane in western Japan on 9 February, the company said on 8 January. Test generation is expected to resume on 6 August in the final phase of the turnaround, according to a power plant operational status notice by the Japan Electric Power Exchange. Full maintenance completion is targeted for 4 September. This will be the first maintenance check for the Shimane reactor since it returned to service in December 2024 after nearly 13 years off line for enhanced nuclear safety inspections following the 2011 Fukushima disaster. The Shimane No.2 reactor is Chugoku's sole nuclear unit in operation. The shutdown would require the utility to boost replacement thermal generation units to meet peak demand in the remainder of winter and in early summer. Chugoku consumed 2.72mn t of coal in April-September 2025, up by 16pc from the same period a year earlier, while its oil use rose by 25pc to 1,719 b/d. But LNG consumption fell by 11pc to 500,000t during the period. By Motoko Hasegawa Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Japan utilities keep LNG stocks above average into 2026
Japan utilities keep LNG stocks above average into 2026
Osaka, 7 January (Argus) — Japan's major power utilities maintained higher-than-average LNG inventories through the New Year holidays, even as stock withdrawals picked up. Utilities held 2.3mn t of LNG stocks on 4 January, down by 5.3pc from a week earlier, according to a weekly survey by the trade and industry ministry Meti. But this was 23pc higher than the 1.87mn t recorded on 5 January 2025 and 12.2pc above the end-January average of 2.05mn t over 2021-25. Japanese power demand fell by 15pc on the week to an average of 90GW across 29 December-4 January, as power consumption particularly in business and industrial sectors declined over the holiday period, which typically runs from 27 December to 4 January this year. Demand in the Chubu region — a manufacturing hub for Japanese auto producer Toyota — plunged by 22pc, the largest drop among the country's 10 service areas, from the previous week to 12GW. Weaker power demand reduced the country's gas-fired generation by 24pc from a week earlier to an average of 26GW during the week to 4 January. Coal- and oil-fired output also fell by 20pc to 26GW and by 25pc to 373GW, respectively. The week-on-week decline in LNG stocks, despite lower gas-fired utilization, suggests utilities received less LNG than they consumed during the holidays. Japan discharged only 631,780t of LNG over 29 December-4 January, down from 1.16mn t a week earlier, according to data from oil analytics firm Vortexa. By Motoko Hasegawa Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia's Gladstone LNG loadings fall in December
Australia's Gladstone LNG loadings fall in December
Adelaide, 6 January (Argus) — Exports of LNG from Gladstone harbour on Australia's east coast were 15pc lower on the year in December 2025, as the port finished 2025 with shipments down on 2024's record loadings. Exports of 1.88mn t for December were down from the 2.2mn t shipped in December 2024, data from Gladstone Ports (GPC) show. The port shipped 23.46mn t of LNG for 2025, down from 24.04mn t a year earlier , which was a record high for the port. China's LNG receipts from GPC facilities fell by 1mn t in 2025 compared with the previous year, likely due to growth in China's domestic gas production and increased pipeline imports. About 57pc of Gladstone's LNG exports arrived in China in 2025, down from 60pc a year earlier and a record 72pc in 2019. Upstream operator of the 9mn t/yr Australia Pacific LNG (APLNG) Origin Energy has reported natural decline at coalbed gas fields, while the Santos-operated 7.8mn t/yr Gladstone LNG reported that LNG output was up by 2pc on the year in January-September 2025 . A mandated reservation scheme policy , which will force all three Gladstone LNG projects to reserve up to 25pc of gas produced for local markets starting in 2027, has yet to be legislated by Canberra, but will not apply to existing contracted gas, the federal government said. By Tom Major Gladstone LNG exports (mn t) China Japan South Korea Malaysia Singapore Total Cargoes Dec '25 1.03 0.12 0.36 0.18 0.05 1.88 29 Nov '25 1.16 0.07 0.4 0.18 0.12 2.07 32 Dec '24 1.36 0.26 0.39 0.12 0.07 2.2 33 2025 13.33 1.71 4.32 2.29 1.22 23.46 364 2024 14.33 1.46 3.97 2.58 0.89 24.04 364 Source: GPC Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Viewpoint: Thailand’s LNG demand poised to remain slow
Viewpoint: Thailand’s LNG demand poised to remain slow
Singapore, 6 January (Argus) — Thailand's LNG demand has been on a downtrend, and sluggish economic growth in the country is expected to further slow consumption and imports. Thailand imported around 8.6mn t of LNG over January-October 2025, about 11pc lower compared with the same period in 2024, according to Global Trade Tracker data. A total of 157,976 GWh of electricity usage was recorded over January-September 2025 compared to 163,395 GWh over January-September 2024, according to data from Thailand's Energy Policy and Planning Office (Eppo). Demand was likely limited by the mild weather in the past year, keeping inventories higher than expected and limiting demand for additional gas-fired power generation. Thailand's gas demand was previously forecasted to rise through the years up to 2030 , according to the country's proposed gas management plan for 2024-37. But demand is now likely to fall as Thailand's GDP growth is expected to narrow to 2.2pc for 2025, and 1.6pc for 2026, down from a record of 2.5pc for 2024, according to a forecast by the Bank of Thailand. Natural gas consumption in 2024 was recorded at 4.496bn m³/d, up by 2.2pc from a year earlier, according to Eppo. Electricity generation and use for gas in the petrochemical and other industries rose by 6pc and about 7pc respectively, accounting for most of the increase in line with the expanding economy that year, although consumption of natural gas by industrial sector consumption fell by about 13pc following a slowdown in industrial goods production. This slowdown is likely to continue this year, according to market participants. Spot trends Thailand's interest for LNG is mostly still driven by gas-fired power generation in the industrial and electricity sectors, which prioritise stability in prices, some traders said. Thailand has committed to at least another 3.4mn t of LNG through term contracts for deliveries from 2025 onwards, which may signal a decreased appetite for spot requirements because of the limited potential for a growth in power demand. Thai utility Gulf Energy most recently signed a 10-year term agreement to receive up to 800,000 t/yr of LNG from Italy's Eni. With the latest deal between Gulf Energy and Eni, Thailand may receive up to 9.1mn t/yr of LNG through term deliveries in 2027, up from 6.5mn t/yr in 2025, and a projected 8.3mn t/yr in 2026, according to Argus data. The number of spot tenders issued by Thai importers has dwindled notably, from an average of about 12-13 tenders per quarter over 2024 to just about under seven per quarter in 2025 as of end-November, according to Argus data (see graph) . This is despite new entrants in private-sector imports — B Grimm Power, Gulf Energy and Hin Kong Power. Southeast Asia LNG demand in the wider southeast Asia region could also be curtailed as a result of gas turbine shortages and increasing production costs. The Philippines and Vietnam plan to boost their gas-fired power capacity, but significant backlogs in the manufacturing of gas turbines could result in delays. LNG demand in the region may hence be capped, despite the downward trend in spot LNG prices resulting from a new wave of LNG supplies entering the market in 2026 and after. The 14mn t/yr LNG Canada terminal's 7mn t/yr second train , for example, restarted recently, adding more volumes to the Pacific region. But some demand from Indonesia could surface. Indonesian state-run utility PLN requires 104 cargoes in 2026, while fellow state-controlled gas distributor PGN may need as many as 19 cargoes over the same period, a senior official from the country's energy and mineral resources ministry told Argus . By Joey Chan and Naomi Ong Thailand term supply Buyer Seller MTPA Start Year Duration Gulf Energy ENI 0.8 2027 10 PTT Cheniere 1.0 2026 20 PTT Oman LNG 0.8 2026 9 PTT Oman 0.3 2025 4 PTT Brunei LNG Undisclosed 2025 4 Gulf Energy ENI 0.5 2025 2 Hin Kong Power Gunvor 0.5 2024 Undisclosed PTT BP 1.0 2017 20 PTT Petronas 1.2 2017 15 PTT Shell 1.0 2017 15 PTT Qatargas III 2.0 2015 19 Argus Thailand's LNG tenders Number of tenders 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.