An LNG tanker
Asian demand critical to absorb fresh LNG supply
Purchasing from region will help determine if prices will stay buoyant in the second half of this decade as supply increases, with significant volumes due online in the next three years
The LNG market is approaching an inflection point. It will revert from net short in recent years, following Russia’s invasion of Ukraine and underwhelming capacity additions, to net long as much-touted projects finally begin to start up. Next year will mark the beginning of a three-year ramp-up in supply. Among the projects that might come online in 2025 are the 14mt/yr LNG Canada terminal, ExxonMobil’s 15.6mt/yr Golden Pass, the first phase of Venture Global-developed Plaquemines, the first two mega-trains of Qatar’s North Field Expansion, Corpus Christi’s 10mt/yr third stage, Nigeria LNG’s 8mt/yr Train 7 expansion and the 3.25m t/yr Energia Costa Azul facility in Mexico by Sempra Energy.
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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!
