Rystad Energy: Global LNG importers to spend US$39 billion more in 2026 while buying less
Published . Updated .
As more buyers turn to the spot market to replace disrupted volumes in light of the Middle East conflict, Rystad Energy estimates that global LNG importers will spend at least US$39 billion more on contracted and spot supplies in 2026, despite purchasing 60.7 million t less.
Directly affected
- No company is named in this report.
Indirectly affected
- UNG United States Natural Gas Fund-9.2% 30d
United States Natural Gas Fund: it follows natural-gas prices. Linked by “lng” (natural gas) in this story.
- XLE Energy Select Sector SPDR+5.6% 30d
Energy Select Sector SPDR: it follows natural-gas prices. Linked by “lng” (natural gas) in this story.
- USO United States Oil Fund+2.7% 30d
United States Oil Fund: its price follows crude oil. Linked by “lng” (oil) in this story.
- BWET Breakwave Tanker Shipping ETF+70.4% 19d
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “lng” (tanker shipping) in this story.
- XOM ExxonMobil Holdings+11.8% 12d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “lng” (oil) in this story.
- LNG Cheniere Energy+11.0% 30d
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+3.1% 30d
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+4.2% 7d
Kinder Morgan (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 |
|---|---|---|---|---|---|---|---|
| UNGNo price data for this ticker | — | — | — | — | — | — | — |
| XLE | -2.42% | -2.96% | base | after close | after close | after close | after close |
| USO | -3.36% | -2.27% | base | after close | after close | after close | after close |
| BWETNo price data for this ticker | — | — | — | — | — | — | — |
| XOM | -3.61% | -3.44% | base | after close | after close | after close | after close |
| LNGNo price data for this ticker | — | — | — | — | — | — | — |
| EQTNo price data for this ticker | — | — | — | — | — | — | — |
| KMINo price data for this ticker | — | — | — | — | — | — | — |
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.
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Rystad Energy: Global LNG importers to spend US$39 billion more in 2026 while buying less LNG Industry
Source: LNG Industry
How far United States Natural Gas Fund (UNG) has moved since 27 Oct 2026
| Company | When | Move | Status |
|---|---|---|---|
| USO | three days earlier | -2.27% | final price |
| USO | five days earlier | -3.36% | final price |
| Select Sector Spdr Tr (XLE) | three days earlier | -2.96% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | -2.42% | final price |
| XOM | three days earlier | -3.44% | final price |
| XOM | five days earlier | -3.61% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Kevin Hern sold ExxonMobil Holdings (XOM) (jointly held), worth $100,001 - $250,000 on 31 Aug 2026. That is 57 days before publication. Filed 25 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, bought ExxonMobil Holdings (XOM), worth $250,001 - $500,000 on 31 Jul 2026. That is 88 days before publication. Filed 22 Sep 2026. View the filing.
- Rep. Michael T. McCaul sold Eqt (EQT) (held by a spouse), worth $1,001 - $15,000 on 27 Aug 2026. That is 61 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Eqt (EQT), worth $1,001 - $15,000 on 17 Aug 2026. That is 71 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Eqt (EQT) (held by a spouse), worth $1,001 - $15,000 on 14 Aug 2026. That is 74 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, sold Kinder Morgan (KMI), worth $1,001 - $15,000 on 31 Jul 2026. That is 88 days before publication. Filed 22 Sep 2026. View the filing.
- Sen. Alan Armstrong sold Williams Companies (WMB) (jointly held), worth $250,001 - $500,000 on 8 Sep 2026. That is 49 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 68 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 69 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).
Middle East on the map for this story
Geopolitics Alpha has 0 stories about Middle East from the past 7 days and 0 stories from the past 30. “Rystad Energy: Global LNG importers to spend US$39 billion more in 2026 while buying less” is tagged to Middle East.
Companies in energy around United States Natural Gas Fund (UNG)
Companies carried with this story
- UNG United States Natural Gas Fund
United States Natural Gas Fund (UNG) is linked, with no stored direction, medium confidence in the 27 Oct 2026 story “Rystad Energy: Global LNG importers to spend US$39 billion more in 2026 while buying less.” Reason on file: United States Natural Gas Fund: it follows natural-gas prices. Linked by “lng” (natural gas) in this story
- XLE Select Sector Spdr Tr
For “Rystad Energy: Global LNG importers to spend US$39 billion more in 2026 while buying less,” Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence. Reason on file: Energy Select Sector SPDR: it follows natural-gas prices. Linked by “lng” (natural gas) in this story
- LNG Cheniere Energy
For “Rystad Energy: Global LNG importers to spend US$39 billion more in 2026 while buying less,” Cheniere Energy (LNG) is linked, with no stored direction, medium confidence. Reason on file: 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
For “Rystad Energy: Global LNG importers to spend US$39 billion more in 2026 while buying less,” Eqt (EQT) is linked, with no stored direction, medium confidence. Reason on file: 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 (KMI) is linked, with no stored direction, medium confidence in the 27 Oct 2026 story “Rystad Energy: Global LNG importers to spend US$39 billion more in 2026 while buying less.” Reason on file: Kinder Morgan (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story
- WMB Williams Companies
For “Rystad Energy: Global LNG importers to spend US$39 billion more in 2026 while buying less,” Williams Companies (WMB) is linked, with no stored direction, medium confidence. Reason on file: The Williams Companies (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story
How a Middle East shock reaches United States Natural Gas Fund (UNG)
United States Natural Gas Fund (UNG) is the company in “Rystad Energy: Global LNG importers to spend US$39 billion more in 2026 while buying less,” the 27 Oct 2026 Middle East story.
What ties United States Natural Gas Fund (UNG) to the headline is this: United States Natural Gas Fund: it follows natural-gas prices. Linked by “lng” (natural gas) in this story
A second company, Select Sector Spdr Tr (XLE), is listed for a different reason: Energy Select Sector SPDR: it follows natural-gas prices. Linked by “lng” (natural gas) in this story
Dates and price levels for United States Natural Gas Fund (UNG)
LNG traded between 259.65 and 302.43 across 20 sessions. The latest close on file is 300.65. UNG traded between 9.36 and 11.43 across 20 sessions. The latest close on file is 9.57. XLE traded between 60.95 and 69.86 across 20 sessions. The latest close on file is 69.64.
The energy score for United States Natural Gas Fund (UNG)
46 out of 100
“Rystad Energy: Global LNG importers to spend US$39 billion more in 2026 while buying less” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.