ICIS 1Q25 LNG market report: reasons for market volatility
Published by Elizabeth Corner,
Senior Editor
World Pipelines,
The 1Q25 LNG market was heavily influenced by political developments, including halted Russian pipeline flows to Europe, evolving EU storage mandates, and a US-China trade war.
Despite robust US exports and new projects coming online, global LNG trade dynamics shifted as Europe outcompeted Asia for cargoes amid higher winter demand and storage concerns.
Market volatility was further driven by speculation, hedge fund activity, and shifting supply routes.
ICIS has recently published its ICIS LNG Edge: Q1 2025 Trade Flow Report.
Below are a few key points form the report:
- Russian flows halted: Gas transit via Ukraine ended, pushing Europe to boost LNG imports and raising summer prices.
- US-China trade war: China imposed steep tariffs on US LNG; no US cargoes reached China after Feb 6.
- US export boom: US led global exports, driven by new output from Plaquemines and Freeport plants.
- Europe tops imports: Europe overtook East Asia as top importer; Japan regained lead over China.
- Price volatility: TTF gas prices peaked mid-Feb before falling; Europe became the premium market.
Read the article online at: https://www.worldpipelines.com/business-news/28042025/icis-1q25-lng-market-report-reasons-for-market-volatility/
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