US-Iran tensions are disrupting global liquefied natural gas trade, weakening Asian imports and clouding prompt supply routes through the Strait of Hormuz, Vortexa said in a weekly note on Monday.
Asia received 4.3 million metric tons across 66 cargoes last week, the lowest level since mid-May and more than 10% below its four-week average, Vortexa said.
China imported 800,000 mt on 13 cargoes, its weakest level since April. South Korea received 600,000 mt across nine cargoes, nearly 20% below its recent average, the firm said.
Japan bucked the regional trend, with imports reaching 1.2 million mt across 20 cargoes, almost 10% above the four-week average. India also received 600,000 mt on eight cargoes, over 5% above its recent average, according to the note.
Pakistan secured two spot cargoes from BP (BP) and TotalEnergies (TTE) and expects another BP shipment on July 15-16 after delays to Qatari supply.
Asian spot LNG averaged $17.4 per million British thermal units, its highest since the US-Iran memorandum of understanding, the firm said.
Europe imported 1.8 million mt across 35 cargoes, about 8% above its recent four-week low. France received 300,000 mt on five cargoes, over 40% above its recent average after maintenance ended at key terminals, Vortexa said.
Spain imported 300,000 mt on five cargoes, about 70% above its recent average.
Greece's Alexandroupolis floating storage and regasification unit also accepted its first cargo since maintenance in March, the firm said.
European Union gas storage reached 52%, trailing the five-year average by 15 percentage points. LNG send-out averaged about 3,100 gigawatt-hours per day, the lowest since October 2024, Vortexa said.
QatarEnergy's Al Rekayyat Q-Flex carrier came under attack by a projectile on July 6 while leaving the Strait of Hormuz. Confirmed LNG transits have declined since then, although several vessels have continued crossing, Vortexa said.
Several QatarEnergy carriers resumed Automatic Identification System transmissions after operating without signals. Al Gattara, Al Samriya and Al Dafna reappeared near Ras Laffan, while Onaiza resurfaced off India and is bound for Incheon, South Korea, the firm said.
Ras Laffan loaded six cargoes, or 400,000 mt, last week, while about 15 ballast LNG carriers remained in Qatari waters. Alhamra was the only vessel to load in the UAE.
Mexico's 3.25 million mt per annum Energia Costa Azul terminal exported its first LNG cargo on July 7 aboard the Pacific Success. BW Tulip is expected to load next, while TotalEnergies will be the terminal's only LNG buyer during the ramp-up, according to Vortexa.
TotalEnergies' 1.7 million mt per annum supply agreement and Mitsui's 800,000 mtpa contract will begin later this summer, Vortexa added.
Angola's 5.2 million mtpa LNG terminal entered a planned 32-day maintenance outage on July 8 after averaging 400,000 mt of monthly loadings during the first half, the firm said.
US LNG exports totaled 2.3 million mt across 32 cargoes last week, while Australia shipped 1.6 million mt on 23 cargoes, broadly matching recent averages, Vortexa said.
Russia delivered its fourth sanctioned Portovaya LNG cargo to China's Beihai terminal on July 12 to July 13. Arctic LNG 2 also resumed seasonal shipments, while Sakhalin 2 remained offline for scheduled maintenance.
Price: $40.95, Change: $+1.75, Percent Change: +4.46%