lng - CrudeMaterial

Five-to-One: The LNG Arbitrage That's Rewriting the Export Playbook

Henry Hub at $3.3, JKM at $18, TTF near $16… the spread that makes every molecule sail. US LNG exports just hit 573.5 bcf as Hormuz stays shut and new trains fire up. The arb's never been this wide, this long, or this structural…

Cheniere Bets $4.69 Billion on Tight Markets Staying Tight

Sabine Pass just locked in the costliest LNG expansion contract in U.S. history — while Hormuz is still closed and global prices are $18.

July Disconnect Moves 2.4 Million Tonnes

The Hilli Episeyo ends its Cameroon contract next month and won't reach Argentina until late 2027. Markets aren't pricing the gap.

$16 Gas Nobody Wants

JKM sits at $18.30 while Henry Hub trades $3.29, but record Mexican pipeline demand is keeping Gulf Coast molecules at home.

Backwardation Meets Geopolitics at 35% Full

Equinor says Europe misses 90% storage if Hormuz stays shut another month. Summer contracts cost more than winter.

Europe Enters Refill Season With an Empty Tank

Storage sits at 38.8% versus a 55% norm. Winter 2026-27 math doesn't work if Hormuz stays shut.

Canberra Just Told JERA Where It Can Source Its Next 40 Bcm

Australia's 20% LNG reservation hits existing contracts. Asia's biggest buyer is reconsidering a $180 billion supply relationship.

When Shipyards Move Faster Than OPEC Meetings

China just cut LNG carrier build time from 40 to 16 months. Qatar's order book is full through 2030, and the margin squeeze is coming.