LNG carrier in the Suez Canal
East Asian LNG demand may not threaten Europe
Risks persist, particularly those related to weather, which could tighten gas availability for Europe
Europe’s gas market is no longer an island. The bloc pivoted rapidly towards LNG and away from Russian pipeline supplies following the invasion of Ukraine last year. This has put European gas buyers in direct competition for cargoes with the established LNG markets of East Asia. China and Japan have jockeyed for position as the world’s largest LNG consumer in recent years, with South Korea taking third place. Altogether, that means the Northeast Asia region is vital to global LNG demand and flows. And so, in this increasingly global context, East Asian demand will prove a critical factor in how much LNG is available to supply Europe this winter. “One of the biggest questions the market is fa
Also in this section
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
9 March 2026
Energy sanctions are becoming an increasingly prominent tool of US foreign policy, with the country’s growth in oil and gas production allowing it to impose pressure on rivals without jeopardising its own energy security or that of its allies, argues Matthew McManus, a visiting fellow at the National Center for Energy Analytics
6 March 2026
The March 2026 issue of Petroleum Economist is out now!
