Oil & Energy
LNG Trade Remains Resilient as Hormuz Traffic Gradually Recovers, Vortexa Says
LNG trade remained largely stable across Asia and Europe last week as buyers monitored developments around the Strait of Hormuz and signs of easing supply disruptions, Vortexa said Monday in its LNG Weekly.Asia imported 4.9 million tons of LNG across 79 cargoes. China received 1.4 million metric tons on 24 cargoes as warmer weather boosted cooling demand, while Japan imported 1.1 million mt across 17 cargoes.South Korea received 600,000 mt on nine cargoes, more than 15% below its recent average. India's imports fell to 500,000 mt across eight cargoes, the lowest level in a month, although it received its first Qatari LNG cargo since March aboard the Disha vessel.Pakistan imported 100,000 mt from Qatar on the Lebrethah vessel, while Bangladesh received 200,000 mt on three cargoes, its strongest level since summer 2025.Asian spot LNG prices remained steady, holding a premium of $2.3 per million British thermal units over the Northwest Europe benchmark, according to Vortexa.Europe imported 1.9 million mt of LNG on 34 cargoes, nearly 5% above its four-week average as hotter weather increased demand. France received 300,000 mt on five cargoes while maintenance continued at the 8 million mt per year Fos Cavaou terminal through the end of June.Italy imported 300,000 mt on five cargoes, the highest level in over a month, as stronger local gas prices attracted shipments. Across the European Union, gas storage reached 46% full, 14 percentage points below the five-year average, while LNG send-out averaged about 3,700 gigawatt-hours per day.QatarEnergy-controlled LNG carriers resumed Hormuz transits between June 17 and June 22, with seven vessels returning to reload for the first time since the US-Iran conflict began. Some vessels sailed with AIS tracking active, while others crossed with signals switched off, Vortexa said.Qatar loaded four LNG cargoes totaling 300,000 mt last week, including one onto the Al Hamla vessel. Two cargoes are heading to Kuwait, while the Disha and Mraikh vessels successfully exited Hormuz and later arrived in India and Pakistan.Separately, an explosion reportedly injured workers at Qatar's Ras Laffan complex on June 21 and affected the Barzan gas plant, which supplies the domestic market. Vortexa said the wider impact on LNG operations remains unclear.Australia's Ichthys LNG plant resumed exports after operator Inpex reached a pay agreement with unions and ended a five-day disruption. The facility shipped two cargoes totaling 100,000 mt last week, while Australia's overall exports reached 1.5 million mt across 22 cargoes.US exports held steady at 2.4 million mt on 35 cargoes, while Russia's Sakhalin 2 facility exported one cargo of 100,000 mt as seasonal maintenance appeared to begin.The Merkuriy vessel delivered a sanctioned Arctic LNG 2 cargo to China's Beihai terminal on June 19-20. The UK recently sanctioned Merkuriy, Kosmos, Luch and Orion, while six Arctic LNG 2 cargoes totaling 400,000 mt remain on their way to China, according to Vortexa.