In November 2025, liquefied natural gas (LNG) exports from the United States will reach a record level. According to estimates, the US will export 10.7 million tons of LNG in a month, which is about 40% more than in November of the previous year. This significant increase in supply has already impacted the cost of energy resources in Europe and Asia, contributing to a decrease in prices in the coming months, although seasonal cold weather may increase demand for gas for heating.
This is reported by Finway
Decline in Gas Prices in Europe and Asia
On November 27, European gas futures fell to their lowest level in over a year, while in Asia, home to leading importers, prices reached a monthly low. During trading on Friday, the cost of gas in European markets dropped by 45% compared to the peak in February, reaching €29 per megawatt-hour, or $355 per 1,000 cubic meters. Analysts predict that new infrastructure projects will allow the US to double LNG export volumes by the end of the decade.
Increase in LNG Exports from Russia to China
Alongside the US, the Russian Federation is also increasing its liquefied gas exports. In September 2025, Russian LNG supplies to China rose by 73% compared to the same period last year—from 751,000 tons to a record 1.299 million tons. The previous peak in supplies to China was recorded in July 2023 (1 million tons). Thus, as of September, Russia ranked third among LNG suppliers to the Chinese market, trailing only Australia (2.127 million tons) and Qatar (1.453 million tons).
“In total, in September, Russia supplied 2.066 million tons of LNG to the largest Asian buyers (China, Japan, South Korea) with an overall production volume of 2.765 million tons.”
Total Russian gas supplies to China, including both pipeline and LNG, increased by 37% year-on-year (September to September), reaching 4.078 billion cubic meters. These trends indicate a strengthening competition in the global gas market among leading exporters.