Vortexa LNG Weekly

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2 November 2026LNG Weekly
Distilling what matters in the global LNG market right nowIn partnership with KayrrosLast week at a glanceAtlantic basinPacific basinDemandEurope’s LNG arrivals maintain uptrend amid colder weather; regional spot price sets new wartime highAsia’s imports supported by pre-winter re-stocking in China and Japan; closed inter-basin arbitrage to weigh on late November deliveriesSupplyIn US, Plaquemines Phase 1 begins commercial operations and Golden Pass’s October utilisation was highest month since start-upHormuz LNG traffic weakens amid sustained vessel attacks; QatarEnergy’s Al Mayeda carrier struck during attempted outbound transit
FOCUS TOPICLNG import flows by destination region
(mt, comparison of last 4 weeks (rolling sum total))
Source: Vortexa. Get live data on platform (https://marketingmail.vortexa.com/ODM3LU1aRS01NzgAAAGlOzX1YJwcbdZ_CncQ31d75x9f_QQEFdvp6yfdoq-cnG9Z-JiiAZ96jHF0btWXEClG1Dxhu9w=)  (clients only). Import comparison is to same period last year. * ‘Last 4 weeks’ reference period = 5 October-1 November 2026. ** JKT = Japan, Korea and Taiwan.
Asia’s LNG imports rise amid pre-winter re-stocking in China and Japan
Last week's aggregate Asia arrivals (5.6 mt, 90 cargoes) were at their highest since August amid pre-winter re-stocking, although imports are expected to slow in the coming weeks due to a closed inter-basin arbitrage for flexible Atlantic cargoes to Asia. Weekly average spot LNG prices in Northeast Asia were at just a US$0.4/MMBtu† premium to Northwest Europe – the narrowest since the start of the US-Iran war.
Deliveries to China (1.8 mt, 30 cargoes) were about 20% above their four-week average, including one cargo from Qatar. Volumes to Japan (1.2 mt, 19 cargoes) were at their strongest in a month, with LNG inventories held by major power producers only marginally above their five-year average after a 15% week-on-week decline. South Korea’s receipts (0.9 mt, 13 cargoes) were slightly below their recent trendline. 
In Southeast and South Asia, shipments to India (0.4 mt, six cargoes) were at their lowest since August, while Pakistan received a cargo from Qatar for the third consecutive week. Meanwhile, Singapore’s LNG imports (0.2 mt, four cargoes) were at their highest since early 2024 after Indonesia cut piped gas deliveries to the city-state.
Europe’s LNG arrivals grow as lower temperatures drive net gas storage withdrawals; Northwest Europe spot price hits new wartime high
Europe-wide LNG deliveries (2.3 mt, 40 cargoes) were over 10% above their four-week average as colder weather supported sustained net gas storage withdrawals. EU-wide gas storage fill ended last week at 75%, still trailing the five-year average by 15 percentage points. Aggregate EU LNG send-out averaged approximately 4,200 GWh/d, almost 15% above its four-week trendline. The weekly average Northwest Europe spot LNG price rose to US$32/MMBtu†, a new wartime high.
France’s volumes (0.5 mt, seven cargoes) were at their highest since April, although the November PEG gas contract’s discount to the Northwest Europe DES LNG price is expected to disincentivise imports during the month. Germany received two cargoes (0.1 mt) after a one-week pause. A commissioning cargo also arrived at the country’s 3.7 mtpa Stade import terminal on 2 November, on the Lech Kaczynski carrier. Belgium’s receipts (0.2 mt, three cargoes) were at their strongest since Q2. 
In the Mediterranean, shipments to Spain (0.3 mt, six cargoes) were 20% below their four-week average, while Italy’s imports (0.1 mt, three cargoes) were at their lowest since June. Meanwhile, Turkey reloaded another cargo – its second in October – on the Marvel Eagle carrier, which is heading to Spain.
FOCUS TOPICLNG export flows by supply region
(mt, comparison of last 4 weeks (rolling sum total))
Source: Vortexa. Get live data on platform (https://marketingmail.vortexa.com/ODM3LU1aRS01NzgAAAGlOzX1YL7362Q9xmZffFdT5XCEO2Tl0aKQhxxgkLJQoVJgQNoXFGPXWFVyUGAUtoDMgo1HzPk=)  (clients only). Export comparison is to preceding 4 weeks in current year. * ‘Last 4 weeks’ reference period = 5 October-1 November 2026.
Hormuz LNG traffic weakens, with Al Mayeda LNG carrier one of several commercial vessels attacked around the chokepoint
There were at least eight confirmed Hormuz transits by LNG carriers last week, compared to the four-week average of 12 crossings. This excludes the QatarEnergy-controlled Al Mayeda vessel, which was attacked near the chokepoint on 30 October – within the Middle East Gulf – while attempting to transit outbound to Pakistan with AIS on. Of the confirmed LNG traffic, there were five ‘dark’ laden outbound transits and three ‘dark’ ballast inbound crossings. The former consisted of four Qatari cargoes in transit on the Al Marrouna, Al Huwaila, Al Areesh and Seapeak Methane carriers and one UAE cargo on Gas Garuda.
Qatar’s Ras Laffan terminal loaded seven cargoes (0.6 mt) last week, about 5% above its four-week average. This included a Kuwait-bound cargo on the Wadi Al Sail vessel. Kuwait’s weekly imports have remained soft since peaking in summer. Elsewhere, the Gas Garuda and Mraweh carriers each delivered UAE-origin cargoes to India: respectively to the Mundra and Dahej terminals.
US LNG exports remain robust, as Plaquemines Phase 1 begins commercial operations and Golden Pass records strongest monthly loadings
Last week, US supply (2.6 mt, 36 cargoes) was marginally above its four-week average as the Golden Pass terminal loaded for the third consecutive week (0.1 mt, one cargo). In October, Golden Pass exports averaged about 55% of its first train’s 6 mtpa nameplate capacity – its strongest month since start-up in April. As scheduled, Venture Global’s Plaquemines Phase 1 entered commercial operations on 31 October. Phase 1 covers 13.3 mtpa of the terminal’s 20.0 mtpa nameplate capacity. The first cargo under a long-term contract was lifted by Shell.
Elsewhere, Australia’s weekly volumes (1.4 mt, 20 cargoes) were at their lowest since July, owing to scheduled maintenance at the Wheatstone facility, which did not lift any cargoes for the second straight week. Equatorial Guinea did not export any cargoes for the fifth consecutive week. In contrast, shipments from Oman (0.3 mt, four cargoes) were at their highest since June. Meanwhile, LNG Canada’s weekly loadings (0.2 mt, three cargoes) were consistent with their four-week average.

† Price commentary based on Argus Media group weekly average price data.
FOCUS TOPICLNG Market SpotlightFocus topic chart (https://marketingmail.vortexa.com/ODM3LU1aRS01NzgAAAGlOzX1YJHu33AuC9l46BB9DT_XMJdFw0Npa0DtAk5ZAvgfs7sicG_F-WBg1fyxhfSRv6jp604=) 
Source: Vortexa, KayrosDaily data from the last 3 months - updated for 26 January 2026
The latest edition covers the key trends in the Middle East and the global sector. Iran’s increased attacks on commercial vessels around the Strait of Hormuz have elevated risks to Qatar and UAE supply – just after Qatari outbound LNG transits hit a wartime high. We also assess scenarios for Qatar’s intended ramp-up, and for Russia’s Yamal LNG output in Q1 2027, after its deliveries to the EU cease.LNG trade flow intelligence
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2 November 2026 · 12:00 UTC