Asia/Pacific

The projects will add nearly 11 Bcm of working gas capacity as China strengthens its natural gas infrastructure and supply security.

Venture Global has signed a 20-year LNG supply agreement with Tokyo Gas, adding 1 MMtpa of long-term sales and bringing its 2025 contract total to 7.75 MMtpa. The deal strengthens U.S.–Japan LNG trade as Gulf Coast export capacity continues to expand.

McDermott has safely wrapped up subsea pipeline installation and heavy-lift work for Sarawak Shell’s FaS development offshore Malaysia, marking more than one million safe work hours and reinforcing its role in Asia’s offshore infrastructure build-out.

China’s crude imports from Indonesia have jumped to record levels, far exceeding Indonesia’s actual exports—a shift traders say reflects rebranded Iranian barrels moved via ship-to-ship transfers off Malaysia amid tighter scrutiny. Analysts warn the rerouting could further distort global crude trade flows.

The IEA says the next LNG wave is reshaping global gas markets, easing tight pipeline supply and helping Europe balance declines from Russia and Norway. Demand remains weak in Asia, but is expected to rebound by 2026.

China received its 14th LNG shipment from Russia’s sanctioned Arctic LNG 2 project, with the Arctic Mulan delivering to Beihai terminal in Guangxi, data from LSEG and Kpler show.

Venture Global and Japan’s Mitsui signed a 20-year LNG supply deal for 1 MMtpy starting in 2029, expanding U.S. LNG exports to Asia and marking the company’s third long-term agreement with Japanese partners this year.

Indonesia is short about 20 LNG cargoes this year as rising domestic demand strains supply. The country plans to postpone some export obligations to 2026, according to Energy Minister Bahlil Lahadalia.

XRG signed an agreement with Azerbaijan’s Ministry of Economy to acquire a stake in Southern Gas Corridor CJSC, expanding its Caspian energy portfolio and reinforcing UAE-Azerbaijan cooperation in gas infrastructure.

U.S. Energy Secretary Chris Wright said there is major “win-win” potential for natural gas trade between the United States and China, citing China’s position as the world’s largest gas importer and America’s growing LNG export capacity. Wright also reaffirmed U.S. readiness to supply Europe’s gas needs.

Japanese LNG buyers JERA, Tohoku Electric, and Kyushu Electric said they can secure alternative gas supplies if Russian Sakhalin-2 shipments are disrupted. The assurances come as the U.S. urges Japan to phase out Russian energy imports and expand ties with U.S. LNG projects.

Tokyo Gas will prioritize the U.S. market in its overseas expansion strategy, including potential LNG offtake from the $44 billion Alaska LNG project. The company plans to invest up to $8.6 billion over three years, with $2.3 billion allocated to overseas and U.S. gas asset development.

Singapore’s GasCo is in talks with LNG suppliers for long-term contracts as it prepares to begin operations by January 2026. The government-backed company aims to secure stable gas supplies for Singapore’s power sector while balancing long-, medium-, and short-term procurement strategies.

Global LNG demand is expected to rebound as new supply enters the market and prices ease, according to executives at the Asia Gas Markets Conference. Lower prices, growing liquidity, and innovative trading strategies are set to drive demand growth across Asia and Europe through the next decade.

China led global underground gas storage expansion in 2025, adding 6 billion cubic meters of capacity to reach 19.8 bcm, according to the International Gas Union. The growth helped lift total global storage to 424 bcm, with Asia emerging as the only region showing robust new development.