LNG Special Report: Market strained by outages and rising Egyptian demand, subduing Asia spot activity - Vortexa

LNG Special Report: Market strained by outages and rising Egyptian demand, subduing Asia spot activity - Vortexa

LNG Special Report: Market strained by outages and rising Egyptian demand, subduing Asia spot activity

LNG

LNG Special Report: Market strained by outages and rising Egyptian demand, subduing Asia spot activity

May LNG supply fell as outages and weak NE Asia demand closed Europe-Asia arbitrage. Europe’s storage refill & Egypt’s imports underpin spot prices.

13 June, 2025

Felix Booth, Head of LNG

Key Takeaways

US and Malaysian outages offset supply growth, keeping May’s global LNG output 1.1 mt below last month
Weak NE Asian demand closed the Europe-Asia arbitrage, leaving Europe’s storage refill needs as the main price support
EU gas storage tops 50%; relaxed refill targets offer flexibility but summer imports must still rise by 2.5 mt (>30 cargoes) vs 2024
Egypt’s growing LNG and fuel-oil demand adds competition for Atlantic Basin summer cargoes
Shipping oversupply persists, with 60 vessels idle for over 40 days
USTR compromise eases export-licence revocation risks, but compliance feasibility remains uncertain

Download report

Felix Booth

Head of LNG

Vortexa

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