Liquefied natural gas (LNG) exports from the United States are expected to reach a record level of 10.7 million tons in November 2025. This is approximately 40% more than in November of last year. Such a rapid increase in exports could significantly impact gas prices in Europe and Asia in the coming months, even with heightened fuel consumption due to colder weather.
This is reported by Business • Media
Gas Prices in Europe Drop to a Yearly Low
On November 27, 2025, gas prices in Europe fell to their lowest levels in over a year: futures lost 45% from the peak in February, and the current price stands at €29 per MWh (approximately $355 per 1,000 cubic meters). Meanwhile, in Asia, home to the largest LNG importers, prices have dropped to a monthly low. Experts predict that new LNG production projects in the US will continue to boost export volumes, potentially doubling production by the end of the decade.
Russia Increases LNG Supplies to China
At the same time, the Russian Federation is strengthening its position in the Asian market. In September 2025, Russia increased its LNG exports to China by 73% compared to September of last year — from 751,000 tons to a record 1.299 million tons. The previous peak was recorded in July 2023 (1 million tons). By the end of September, Russia remained the third-largest LNG supplier in the Chinese market, trailing only Australia (2.127 million tons) and Qatar (1.453 million tons).
Overall, in September 2025, the Russian Federation exported 2.066 million tons of LNG to its largest Asian consumers — China, Japan, and South Korea — out of a total production of 2.765 million tons. Cumulatively over the year (September to September), shipments of Russian gas to China, including pipeline supplies and LNG, increased by 37% to 4.078 billion cubic meters.
The US is expected to export 10.7 million tons of gas in November, which is approximately 40% more than in the same month last year.