In the third quarter of 2025, the global LNG Price Trend reflected a market that was turbulent but still resilient. Demand and supply both grew at a moderate pace, creating a delicate balance. While some regions increased imports sharply, others reduced buying due to economic uncertainty and high prices. As a result, LNG prices moved unevenly across different markets, with noticeable volatility throughout the quarter.
Global LNG Market Overview in Q3 2025
During Q3 2025, the global LNG market saw moderate growth in overall demand along with steady increases in supply. New liquefaction capacity came online in several producing countries, adding more cargoes to the market. At the same time, demand patterns varied widely by region.
Asian LNG imports softened during the quarter. Major buyers such as China and India became more cautious due to economic uncertainty and elevated LNG prices earlier in the year. Many buyers reduced spot purchases and focused on optimizing existing contracts. This cautious approach reduced buying pressure in Asia.
In contrast, Europe recorded very high LNG import volumes. Reduced pipeline gas supplies forced European countries to rely more heavily on LNG to meet energy needs. This strong European demand helped absorb some of the excess supply in the global market.
Despite this balance, price volatility remained high. Geopolitical tensions, shifting demand patterns, and uncertainty about future supply created frequent price swings. Traders and buyers acted cautiously, avoiding aggressive positions. Overall, the LNG Price Trend during Q3 2025 showed instability in the short term but strength in the long-term fundamentals.
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What Drives the LNG Price Trend
The LNG Price Trend is shaped by many real-world factors. One of the most important is the balance between supply and demand. When new LNG production grows faster than demand, prices tend to soften. When demand rises faster than supply, prices usually increase.
Shipping and logistics also play a key role. LNG must be transported in specialized vessels, and availability of ships can affect prices. Weather conditions, such as storms or extreme heat, can disrupt shipping or increase energy demand.
Geopolitical issues also influence LNG prices. Conflicts, trade restrictions, or sanctions can affect gas flows and push buyers to seek alternative sources. Finally, competition from other energy sources, such as pipeline gas, renewables, or coal, also affects LNG demand and pricing.
LNG Price Trend in Australia
Australia is one of the world’s major LNG exporters, supplying large volumes to Asian markets. In Q3 2025, the LNG Price Trend in Australia showed a moderate downward movement. FOB prices from Port Darwin ranged between USD 14.98 and 18.21 per metric ton, reflecting a quarter-on-quarter decline of about 4.54%.
This price decline was mainly driven by softer demand from Asia. As economic uncertainty increased and fuel transition policies gained attention, some buyers deferred new LNG cargoes. At the same time, rising liquefaction capacity globally meant more competition among exporters.
Shipping volumes from Australia were lower than expected during parts of the quarter. New suppliers from other regions also entered the market, adding pressure on Australian exporters to remain competitive. Sellers had to adjust prices to attract buyers in a well-supplied market.
In September 2025, the pressure increased further, with prices falling by around 9.35% compared to August. Although production levels remained steady, weaker shipping activity and strong competition weighed on prices toward the end of the quarter.
LNG Price Trend in the United States
The United States continued to play a major role in the global LNG market in Q3 2025. However, the LNG Price Trend in the United States showed a noticeable decline during the quarter. Ex-Louisiana LNG prices ranged between USD 2.82 and 3.53 per metric ton, marking a quarter-on-quarter decrease of around 6.71%.
This decline was largely caused by oversupply and soft overseas demand. LNG production capacity in the US continued to expand, but demand from international buyers did not grow at the same pace. At the same time, Europe and Asia had access to competitive pipeline gas, which reduced the need for LNG imports in some cases.
Growing inventories added further pressure on prices. Buyers took advantage of lower spot prices but remained cautious about committing to large volumes. The Henry Hub-linked pricing mechanism also contributed to downward momentum, reflecting abundant natural gas supply in the domestic market.
In September 2025, US LNG prices showed a small rebound of about 2.05%. This increase was driven by renewed spot interest as buyers reacted to lower prices. However, this rebound was minor compared to the overall downward trend seen during the quarter.
LNG Price Trend in Qatar
Qatar is known for its stable and long-term LNG supply relationships. In Q3 2025, the LNG Price Trend in Qatar remained largely stable. FOB prices from Ras Laffan ranged between USD 10.3 and 12.29 per metric ton, showing only a marginal quarter-on-quarter decrease of about 0.20%.
Qatar’s stability came from its long-term contracts and predictable export volumes. Even though spot demand from Asia and Europe fluctuated slightly, overall trade flows remained consistent. Buyers continued to rely on Qatari LNG due to its reliability and competitive pricing structure.
In September 2025, prices dipped slightly by around 1.24%. This change reflected minor seasonal adjustments rather than any major shift in market fundamentals. Consistent upstream operations and reliable shipping schedules helped Qatar maintain stable pricing throughout the quarter.
LNG Price Trend in India
India experienced a different price movement compared to major exporters. In Q3 2025, the LNG Price Trend in India moved upward. Domestic LNG prices at Ex-Hazira increased by around 2.79%, with prices ranging between INR 6.56 and 7.18 per metric ton.
This increase was driven by rising domestic gas demand, particularly from city gas distribution companies and the power sector. As energy consumption grew, especially during periods of higher electricity demand, LNG became an important source of fuel.
Import activity remained steady throughout the quarter. While global LNG prices were mixed, firm supply costs and stable shipping conditions supported higher domestic pricing. In September 2025, prices eased slightly by about 1.00%, indicating a short-term correction after the overall upward trend.
Despite minor delivery challenges in some areas, overall demand remained healthy. The Indian LNG market showed resilience, with steady offtake and continued interest from key sectors.
Market Sentiment and Trading Behavior
Throughout Q3 2025, trading behavior in the LNG market remained cautious. Price volatility and global uncertainty encouraged buyers to avoid aggressive spot purchases. Many preferred short-term deals or flexible contracts to manage risk.
Sellers, on the other hand, focused on maintaining volumes rather than pushing for higher prices. This balanced approach helped prevent extreme price movements despite ongoing volatility.
Outlook for the LNG Price Trend
Looking ahead, the LNG Price Trend is expected to remain sensitive to global supply-demand changes, geopolitical developments, and economic conditions. While supply is expected to grow further, demand patterns may remain uneven across regions.
Price volatility is likely to continue, but strong long-term demand for cleaner energy supports the overall LNG market. Countries seeking energy security and lower emissions are expected to keep LNG as a key part of their energy mix.
Conclusion
The LNG Price Trend in Q3 2025 reflected a market shaped by regional differences, moderate demand growth, steady supply expansion, and ongoing uncertainty. While prices declined in major exporting countries like Australia and the United States, markets such as India saw upward pressure due to rising domestic demand. Qatar remained stable due to its long-term contract structure.
Overall, the global LNG market showed resilience despite turbulence. As the energy transition continues, LNG prices are expected to remain dynamic, making careful monitoring and flexible strategies essential for market participants.
