LNG short-term webinar: November 2025

Global gas prices have begun to diverge. The TTF month-ahead contract continues to decline, even as European demand rises with the arrival of winter. In contrast, soaring freight costs have pushed Asian spot buyers to bid higher in order to secure cargoes. Looking ahead to 2026, we anticipate demand growth in South Korea and Taiwan, while Japan is likely to see some downside as nuclear restarts accelerate. Global supply expansion will continue to favour Europe, with southern markets such as Spain and Italy remaining resilient. At the same time, Egypt and Türkiye are poised to emerge as increasingly competitive players in the global gas landscape. In this outlook and webinar, we investigate the following topics: - Recent dynamics on prices - Global LNG balances - European gas balances and possible ceasefire impact