LNG at a crossroads: Asia’s demand, a coming glut and the push for flexibility
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At ADIPEC 2026, energy leaders explore how destination-free contracts, hybrid pricing, and price-sensitive Asian demand absorb the upcoming global LNG supply
Directly affected
- No company is named in this report.
Indirectly affected
- UNG United States Natural Gas Fund
United States Natural Gas Fund: it follows natural-gas prices. Linked by “lng” (natural gas) in this story.
- XLE Energy Select Sector SPDR
Energy Select Sector SPDR: it follows natural-gas prices. Linked by “lng” (natural gas) in this story.
- AAXJ iShares MSCI All Country Asia ex Japan ETF
iShares MSCI All Country Asia ex Japan ETF holds stocks listed in Asia, which this story is about (“asia”).
- LNG Cheniere Energy
Cheniere Energy (natural gas distribution): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story.
- EQT Eqt
Eqt (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story.
- KMI Kinder Morgan
Kinder Morgan (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story.
- WMB The Williams Companies
The Williams Companies (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| UNG | +6.94% | +1.94% | base | +1.22% | +2.94% | +2.77% | +3.66% |
| XLE | +1.44% | +2.16% | base | -0.83% | -5.58% | -7.74% | -8.36% |
| AAXJ | +2.41% | +2.89% | base | +0.08% | +0.91% | -5.77% | -3.38% |
| LNG | -3.81% | +2.35% | base | -0.14% | -6.29% | -9.55% | -10.77% |
| EQT | +2.63% | -0.55% | base | -1.08% | -4.23% | -7.69% | -9.40% |
| KMI | +3.48% | +3.80% | base | +0.49% | -3.67% | -7.10% | -8.05% |
| WMB | +4.07% | +5.18% | base | +1.82% | -4.66% | -9.90% | -9.98% |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
LNG at a crossroads: Asia’s demand, a coming glut and the push for flexibility Energy Connects
Source: Energy Connects
Energy
| Company | When | Move | Status |
|---|---|---|---|
| AAXJ | that day | +0.08% | final price |
| AAXJ | the next day | +0.91% | final price |
| AAXJ | two days later | -5.77% | final price |
| AAXJ | three days later | -3.38% | final price |
| AAXJ | three days earlier | +2.89% | final price |
| AAXJ | five days earlier | +2.41% | final price |
| EQT | that day | -1.08% | final price |
| EQT | the next day | -4.23% | final price |
| EQT | two days later | -7.69% | final price |
| EQT | three days later | -9.40% | final price |
| EQT | three days earlier | -0.55% | final price |
| EQT | five days earlier | +2.63% | final price |
| KMI | that day | +0.49% | final price |
| KMI | the next day | -3.67% | final price |
| KMI | two days later | -7.10% | final price |
| KMI | three days later | -8.05% | final price |
| KMI | three days earlier | +3.80% | final price |
| KMI | five days earlier | +3.48% | final price |
| LNG | that day | -0.14% | final price |
| LNG | the next day | -6.29% | final price |
| LNG | two days later | -9.55% | final price |
| LNG | three days later | -10.77% | final price |
| LNG | three days earlier | +2.35% | final price |
| LNG | five days earlier | -3.81% | final price |
| UNG | that day | +1.22% | final price |
| UNG | the next day | +2.94% | final price |
| UNG | two days later | +2.77% | final price |
| UNG | three days later | +3.66% | final price |
| UNG | three days earlier | +1.94% | final price |
| UNG | five days earlier | +6.94% | final price |
| WMB | that day | +1.82% | final price |
| WMB | the next day | -4.66% | final price |
| WMB | two days later | -9.90% | final price |
| WMB | three days later | -9.98% | final price |
| WMB | three days earlier | +5.18% | final price |
| WMB | five days earlier | +4.07% | final price |
| XLE | that day | -0.83% | final price |
| XLE | the next day | -5.58% | final price |
| XLE | two days later | -7.74% | final price |
| XLE | three days later | -8.36% | final price |
| XLE | three days earlier | +2.16% | final price |
| XLE | five days earlier | +1.44% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Michael T. McCaul sold EQT (held by a spouse), worth $1,001 - $15,000 on 27 Aug 2026. That is 68 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought EQT, worth $1,001 - $15,000 on 17 Aug 2026. That is 78 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold EQT (held by a spouse), worth $1,001 - $15,000 on 14 Aug 2026. That is 81 days before publication. Filed 14 Oct 2026. View the filing.
- Sen. Alan Armstrong sold Williams Companies (WMB) (jointly held), worth $250,001 - $500,000 on 8 Sep 2026. That is 56 days before publication. Filed 22 Oct 2026. View the filing.
- Sen. Alan Armstrong bought Williams Companies (WMB) (jointly held), worth $15,001 - $50,000 on 20 Aug 2026. That is 75 days before publication. Filed 17 Sep 2026. View the filing.
- Sen. Alan Armstrong bought Williams Companies (WMB) (jointly held), worth $1,001 - $15,000 on 19 Aug 2026. That is 76 days before publication. Filed 17 Sep 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
How solid the energy case looks
12 out of 100
“LNG at a crossroads: Asia’s demand, a coming glut and the push for flexibility” scores 12 out of 100. The score uses 1 sources.