In partnership with

Welcome back to LNG4U — your front-row seat to the trends driving the LNG market.
We begin with a key insight to keep you ahead 🎓, then move into the stories making waves — from price moves 💰 to offshore developments 🚢.
Let’s dive in.

🎓 LNGKnowledge

If a leak or spill 💧 of LNG occurs, the liquid will evaporate . This evaporation has two distinct phases 👇

Phase 1️⃣

👉 During the first minute, there will be a violent rate of 'boiling' as the heat 🔥for evaporation is taken from the immediate surroundings and the spill itself.

Phase 2️⃣

👉 The cold evaporated gas insulates the liquid surface, causing the rate of evaporation to stabilise 📉 (or reduce) proportional to the ratio of heat transfer from the surrounding areas to the LNG.

Source : Science direct

💰 LNGPrices

Freight rates / 174,000 m3 / 2 Stroke

Atlantic - (Spark30S)

$ 34,500 / day

Pacific - (Spark25S)

$ 28,250 / day

Natural Gas

Asia (JKM) - Dec 25

$ 11.102 / mmBtu

Europe (NWM) - Dec 25

$ 10.235 / mmBtu

Bunkers

$/MT

LNG

VLSFO

MGO

Singapore

689.10

460.00

721.00

Rotterdam

674.33

437.00

693.50

🏭 LNGTerminals

Exmar will charter and operate two 2️⃣ floating storage and regasification units to EemsEnergy Terminal from 2027 📅.

The Belgian gas ship owner and infrastructure provider said it has formed a strategic partnership with the Gasunie and Vopak-controlled terminal company 🤝 to extend the operation of the Eemshaven LNG import facility.

Exmar plans to convert an existing diesel-electric LNG carrier in the 165,000-cbm to 170,000-cbm range into a modern FSRU 🚢.

(C) Copyright Tradewinds 2025

Source: Exmar

European Union leaders green-lighted the 19th Russia sanctions package 🚨 on Thursday after Slovakia dropped its objections. 

The package aims to further starve Moscow of energy revenue 🚫 and pressure Vladimir Putin into negotiations. It bans liquefied natural gas imports from Russia in January 2027 💧, a year earlier than initially planned, and targets Russian banks, lenders in Central Asia and several crypto exchanges. 

The EU package blacklists more than 100 additional oil tankers aiding Moscow’s illicit energy trade, increasing the list to roughly 550 🚢.

(C) Copyright Bloomberg 2025

Source: Riviera Maritime Media

Chinese LNG import growth is slowing and may not be the demand driver it was expected to be 📉, but other Asian buyers of the product are emerging.

Among the reasons for this, lower economic growth, the increase of renewable energy supplies and larger Russian pipeline gas volumes 💭, most recently with the plan to develop the Power of Siberia 2 project.

(C) Copyright Tradewinds 2025

Source: Yicai Global

Western energy majors including ExxonMobil, Shell, BP, Chevron, and TotalEnergies are re-engaging in Iraq to build its first LNG import terminals 🏭.

The LNG push aims to reduce Iraq’s dependence on Iranian gas and electricity 📉.

Washington’s strategy seeks to diminish Russian and Chinese influence in Iraq’s energy sector, curb Moscow’s Arctic LNG ambitions, and strengthen U.S. energy and security leverage in both 🤝 Baghdad and the Kurdistan Region

(C) Copyright Oil Price 2025

Source: Getty Images/ Wayne Eastep

Gastrade has expanded regasification capacity two times 📈 over the course of a month and has now taken the first LNG cargo at floating storage and regasification unit (FSRU) Alexandroupolis 🚢.

The Greek LNG import terminal doubled its operational regasification capacity in September from 45.4 GWh/day to 90.8 GWh/day and then increased capacity by the same rate again on 21 October 2025, to 136.2 GWh/day 📈

(C) Copyright Riviera Maritime Media 2025

Source: Gastrade

🚢 LNGShips

Wärtsilä is staying longer on the liquefied natural gas (LNG) carrier lifecycle duty with Greece’s TMS Cardiff Gas, thanks to a multi-year deal for seven 7️⃣ LNG vessels.

Wärtsilä underlines that the deal with TMS Cardiff Gas is designed to ensure the vessels’ maximum operational reliability 🚢 by enabling flexible maintenance scheduling and optimizing time between overhauls (TBO).

The agreement will provide flexible maintenance scheduling with extended maintenance intervals 📈 and reduced spare parts consumption, along with 24/7 remote operational support 💻.

(C) Copyright Offshore energy 2025

Source: Wärtsilä

GasLog netted around $25m on the sale of a 29-year-old LNG carrier as the company slowly clears out 📉 its elderly steam turbine ships.

GasLog Partners said it completed the sale of its 145,000-cbm LNG carrier 👉 Methane Jane Elizabeth (built 2006)

(C) Copyright Tradewinds 2025

Source: Heldeline

TMS Cardiff Gas’ fixture of one of the company’s LNG carriers 🤝 to Russia’s Yamal interests at a rate more than double current levels has prompted conversation and some questions within the sector.

TMS Cardiff Gas has fixed its 174,000-cbm Bonito LNG (built 2020) to Singapore-based Yamal Trade or associates of this company for a seven-month period 📅.

(C) Copyright Tradewinds 2025

Source: TMS Cardiff

🏗 LNGShipbuilding

Global orders for liquefied natural gas (LNG) vessels have dropped sharply in 2025 📉. Only 38 vessels were ordered in the first nine months of the year, compared with 86 in the same period of 2024—a 56% decline 📊.

The slowdown is attributed to delayed final investment decisions (FIDs) in 2024 and early 2025 🕔, high newbuild prices, and increased uncertainty stemming from the U.S. Section 301 trade measures, as well as stricter environmental rules such as the EU Emissions Trading System and FuelEU Maritime 📕.  

By the end of the third quarter of 2025, only 17 LNG carriers (LNGCs) had been ordered 📉, compared with 73 in the same period last year.

(C) Copyright Drewry Maritime Research 2025

Source: Drewry Maritime Research

US LNG developer Delfin Midstream has awarded South Korean shipbuilder Samsung Heavy Industries 🤝 a contract for its first floating LNG (FLNG) vessel, marking a key step toward a final investment decision 💵 expected in November this year.

The agreement grants Delfin exclusive rights to SHI’s dock for the construction of the first FLNG vessel for the Delfin LNG project 🚢, located offshore Louisiana.

The award sets the stage for future units, reserving a build slot for a second 2️⃣ FLNG vessel once the first reaches FID, with plans for a third 3️⃣ to follow under a broader cooperation framework.

(C) Copyright Splash247 2025

Source: Delfin Midstream

Singapore LNG Corporation (SLNG) participated in a steel cutting ceremony held at Hanwha Ocean Shipyard in Geoje, South Korea, to mark the start of construction of the Floating Storage and Regasification Unit (FSRU) 🎊 for Singapore’s Second Liquefied Natural Gas (LNG) Terminal.

To meet SLNG’s operational requirements, the FSRU has been designed and engineered to operate for up to a 👉 25-year charter period without the need for dry docking, which is a first 🥇 for FSRUs worldwide.

(C) Copyright SLNG 2025

Source: SLNG

Samsung Heavy Industries has delivered a 7,500 cu m LNG carrier 🚢 to Korea Line equipped with KC-2C, a locally produced LNG cargo hold, fulfilling a long-standing aspiration for the nation’s shipbuilding industry. 

The newbuild has successfully completed its maiden voyage, transporting LNG from Tongyeong to an LNG terminal in Jeju ⚓.

KC-2C is a Korean cargo hold developed by Samsung Heavy to reduce reliance on foreign technology, primarily France’s GTT, to whom Korean companies typically pay around 💰10m for every gas carrier they build. 

(C) Copyright SLNG 2025

Source: SLNG

🤝 LNGContracts

Golar LNG has finalised a 20-year charter of its under-conversion 3.5-mtpa MK II floating LNG production unit 🤝 to Argentinian consortium Southern Energy.

The charter will bring $8bn of net earnings backlog 💵, equivalent to $400m in annual Ebitda, before commodity exposure and inflationary adjustments.

(C) Copyright Tradewinds 2025

Source: Golar LNG

Glenfarne Alaska LNG has boosted the commercial momentum of its Alaskan liquefied natural gas (LNG) export development through a deal with Japan’s energy utilities giant Tokyo Gas 🤝, representing the fifth agreement in seven months, totaling more than half of the project’s volume 💧.

The duo’s letter of intent (LOI) is for the offtake of one million tonnes per annum (mtpa) of LNG 💧 from the Alaska LNG project, adding commercial momentum to the progress made in developing the 20 mtpa project, which is perceived to be the only federally authorized export terminal on the U.S. Pacific Coast.

(C) Copyright Offshore Energy 2025

Source: Alaska LNG

💧 LNGBunkering

Anew Climate and Seaspan Energy have completed their first ship-to-ship (STS) loading operation 🥇 of renewable liquefied natural gas (bio-LNG) in the Port of Long Beach, California, making an important step forward in the transition to lower-carbon marine fuels 🌎 on the North American West Coast.

The renewable natural gas (RNG) used to produce the bio-LNG was sourced from a Morrow Energy facility 🏭. The RNG from this facility has a low certified carbon intensity of 7.74 grams of CO2e per megajoule of energy ⚡ under the ISCC framework.

(C) Copyright Offshore Energy 2025

Source: Seaspan Energy

Avenir LNG participated in a steel cutting ceremony for its next 20,000 cbm LNG bunkering vessel 🚢 at Nantong CIMC Sinopacific Offshore & Engineering.

This marks the start of construction for Hull S1124, the second of two 2️⃣ vessels in their latest series. Delivery is scheduled for early 2027 🎊 and the vessel will go on to serve under a long term charter.

(C) Copyright Avenir LNG 2025

Source: CIMC SOE

Maritime transportation company Brittany Ferries, in collaboration with marine fuels supplier Titan, has marked the first 🥇 delivery of liquefied biomethane (LBM/bioLNG) to its electric-hybrid ship, Saint-Malo.

The milestone operation took place during the ferry’s regular bunker call at Portsmouth International Port with Titan-operated bunkering barge Optimus 🚢.

Liquefied biomethane, or bioLNG, is used to deliver overcompliance with the FuelEU Maritime regulation 🎯, presenting benefits via pooling, banking, and borrowing.

(C) Copyright Offshore Energy 2025

Source: Brittany Ferries

🔥 LNGAsFuel

Evergreen Marine Corporation has commissioned Chinese and South Korean shipyards 🤝 to build a total of 14 vessels with a 14,000 TEU capacity and dual-fuel LNG propulsion, each worth about 💰200 million.

The ships are scheduled for delivery between 2028 and 2030 🎊.

(C) Copyright Offshore Energy 2025

Source: Hudong-Zhonghua Shipbuilding

Disputes between owners and charterers over fuel quality have generated a steady income stream for marine lawyers over many decades 📅. But the arrival of new fuels, a key component in shipping’s now disrupted decarbonisation drive, is generating a new category of disputes relating to VLSFO 🛢. 

Dual-fuel LNG carriers, which operate mostly with LNG as fuel 💧, also carry large volumes of VLSFO as a back-up. But the fuel, with a maximum sulphur content of 0.5%, can become unstable at sea. It may separate and even solidify in bunker tanks , becoming unusable 🚨. The risk escalates when VLSFO is stored on board for long periods

The risks are many and varied, affecting both hull and machinery insurers and P&I Clubs 📘. And experts point out that as proactive owners and operators continue their quest for cleaner fuels, the scale of these fuel risks is only likely to rise 📈

(C) Copyright Seatrade Maritime 2025

Source: Marine Insight

📺 LNGAds

ADIPEC 2025 returns to Abu Dhabi from 3–6 November under the theme “Energy. Intelligence. Impact.” — bringing together 205,000+ attendees, 1,800 speakers, and 2,250 exhibitors from across the global energy, technology, and finance sectors.

Register now to join the world’s meeting place for energy, AI, and innovation:

Have a great week ahead !

Mustapha 👋🏻

Did You like this LNG4U Edition ?

Login or Subscribe to participate

If YES, please share it with your friends in Social Media to grow our LNGiers community