Gastech 2025 — Global Gas and LNG Conference, Singapore, September 2025
Gastech 2025 in Singapore drew approximately 55,000 attendees from 120 countries to the world's most LNG-dependent region. With Asian gas demand growth accelerating and US LNG capacity expanding post-permit-pause-lift, the conference debated whether the global LNG market is heading for surplus or tightness in the late 2020s — a question with direct implications for both gas-linked electricity prices and the diesel pump prices that track global energy cost floors.
Gastech 2025 — event overview
Gastech is held biennially, rotating among major gas hub cities. The 2025 Singapore edition follows Gastech 2024 (Milan) and precedes the next edition. Official event information at gastechevent.com. Singapore is strategically chosen: it is the world's largest LNG bunkering hub and sits at the heart of the Asian gas demand growth story.
Asian LNG demand — the growth engine at Gastech 2025
The dominant demand discussion at Gastech 2025 was the diverging Asian LNG demand picture: Japan and Korea, the two largest historical LNG buyers, are showing flat to declining demand as nuclear restarts (Japan) and renewable penetration increase; while South Asia (India, Bangladesh, Pakistan) and Southeast Asia (Vietnam, Philippines, Thailand) are growing rapidly from a lower base.
| Buyer | 2025 LNG imports (mtpa est.) | Trend | Driver |
|---|---|---|---|
| Japan | ~70 | Flat to declining | Nuclear restarts, renewables |
| China | ~78 | Moderate growth | Gas power, industrial use |
| South Korea | ~46 | Stable | Gas-fired power; renewables offset |
| India | ~26 | Strong growth | City gas distribution, fertiliser, power |
| SE Asia (combined) | ~25 | Rapid growth | New LNG-to-power projects |
The net effect: Asian LNG demand is growing at approximately 3–4 % per year, but the growth is shifting southward. This is reshaping trade flows and influencing the JKM spot price premium over TTF, which in turn affects European gas prices through cargo competition. Related: European gas prices recovery and LNG price volatility in Europe.
US LNG expansion — post-permit-pause capacity
The lifting of the Biden administration's LNG export permit pause (January 2024) and the new administration's pro-LNG stance created a pipeline of newly permitted US LNG projects. By Gastech 2025, several had reached or were approaching Final Investment Decision (FID):
- Plaquemines LNG Phase 2: FID taken; 13.3 mtpa; expected online 2028
- CP2 LNG (Louisiana): Permitted; seeking offtake agreements; 20 mtpa target
- Corpus Christi Stage 3 expansion: Under construction; 10.8 mtpa; Gastech was a signing venue for Asian offtake
- Port Arthur LNG Phase 2: In development; targeting 20 mtpa with Saudi Aramco as anchor buyer
If all announced projects proceed, US LNG export capacity could reach 30+ mtpa of additional supply by 2030. The market is divided on whether Asian demand growth can absorb this without a structural LNG price decline — a scenario that would reduce European TTF and Asian JKM benchmarks and, indirectly, diesel pump prices through lower refinery operating costs. The US LNG export surge article covers the supply side in depth.
Hydrogen and gas — Gastech 2025's decarbonisation debate
Gastech 2025 featured a major hydrogen conference track, reflecting the gas industry's push to reframe LNG as a hydrogen carrier and position blue/green hydrogen as an export product from gas-rich nations. Key signals:
Australia: Australian LNG exporters (Woodside, Santos) are advancing plans to convert LNG export terminals into hydrogen ammonia export facilities — using renewable electricity or gas with CCS to produce hydrogen and exporting as ammonia (which is easier to ship than liquid hydrogen). Japan's hydrogen import ambitions were announced as anchor demand.
Qatar: QatarEnergy presented its North Field East expansion (adding 48 mtpa of LNG) alongside a pledge to capture and store CO₂ from the new trains — positioning Qatari LNG as among the lowest-carbon LNG globally. Carbon intensity of LNG production is increasingly a purchase criterion for European utilities.
The economics of hydrogen as a transport fuel versus a heating fuel are in the hydrogen fuel glossary entry. Current global fuel prices for context are in the FuelTheGuide Explorer.
Southeast Asia — the new LNG demand frontier
Southeast Asia was the conference's growth story. Vietnam, the Philippines, Thailand, and Indonesia are all developing new LNG-to-power infrastructure as they move away from coal under JETP (Just Energy Transition Partnership) financing. Key projects discussed at Gastech 2025:
- Vietnam: First LNG import terminal (Son My) receiving first cargoes in 2025; power sector demand could reach 10+ mtpa by 2030
- Philippines: Multiple LNG FSRU (floating storage and regasification unit) projects to supply gas-fired power plants replacing ageing coal units
- Thailand: Expanding existing PTT LNG terminal; targeting 20 % gas in power mix
Southeast Asia's LNG import growth is structurally supported by JETP financing (Japan, US, EU, UK, Canada pledging USD 20 billion) and the economic case for gas versus new coal — even at elevated LNG prices, gas-fired power is increasingly competitive. The Southeast Asia energy transition story is in Southeast Asia energy transition.
JKM — the Asian LNG price benchmark explained
The Japan Korea Marker (JKM) is the primary spot price benchmark for LNG delivered to Northeast Asia. It is assessed daily by S&P Global Platts based on reported spot transactions for cargoes delivered to Japan, Korea, Taiwan, and China. JKM is to Asian LNG what TTF is to European gas or Henry Hub to US gas — the key reference for spot market pricing and increasingly for long-term contract indexation.
JKM's significance for global fuel markets: when Asian demand spikes (cold winters in Japan/Korea, heatwaves driving air conditioning), JKM rises sharply, attracting spot LNG cargoes away from Europe. This reduces European supply and pushes TTF higher, which flows through to refinery operating costs and ultimately to European diesel pump prices. The JKM-TTF arbitrage is one of the key mechanisms linking Asian weather to European fuel pump prices. Context in European gas prices recovery.
Frequently asked questions
What is Gastech and where is it held?
Gastech is the world's largest gas and LNG conference and exhibition, held biennially. The 2025 edition was at Singapore EXPO, 23–26 September 2025. ~55,000 attendees from 120 countries. Organised by dmg events. See gastechevent.com.
What were the main themes at Gastech 2025?
Asian LNG demand growth (India, SE Asia surging; Japan/Korea flat), US LNG capacity expansion post-permit-pause-lift, blue/green hydrogen export plans from Australia and Qatar, Southeast Asia LNG-to-power development, and long-term LNG supply-demand balance outlook to 2030.
How does Gastech affect LNG and fuel prices?
Gastech is a major long-term LNG contract signing venue. Supply deals announced there lock in volumes for 15–20 years. Short-term market sentiment is also shaped by buyer and seller production forecasts. Higher LNG prices flow through to European TTF and ultimately refinery costs, affecting diesel pump prices.
What is the JKM gas price and why does it matter for Asia?
JKM (Japan Korea Marker) is the Asian LNG spot price benchmark. When JKM rises (cold winter in Japan/Korea), LNG cargoes are attracted to Asia from Europe, tightening European TTF supply and pushing gas prices higher — which flows through to European refinery costs and diesel pump prices within weeks.