Structured intermediation for LNG spot cargoes, long-term SPAs, and small-scale supply chains across APAC, European, and Middle East markets.
From spot cargo transactions to structured long-term agreements, Meridian facilitates LNG deals across the full commercial spectrum.
Single-cargo and short-duration transactions for buyers and sellers seeking flexible, market-priced supply without long-term commitments. Sourced from Atlantic and Pacific basin exporters.
Multi-year structured supply agreements between creditworthy buyers and liquefaction project developers. Facilitating negotiation, NCNDA, LOI, and full SPA documentation under international law.
Facilitation of small-scale LNG transactions for island markets, industrial end-users, and marine bunkering operations. Ideal for off-grid energy solutions and ship-to-ship transfers.
Standard LNG quality specifications accepted for trading and intermediation through Meridian's structured process.
| Parameter | Standard Value | Unit | Test Method | Notes |
|---|---|---|---|---|
| Methane (CH₄) | ≥ 85% | mol% | GPA 2261 | Min. 85% by mole fraction |
| Gross Calorific Value | 1,000 – 1,150 | BTU/scf | ISO 6976 | Higher heating value basis |
| Wobbe Index | 47.2 – 52.0 | MJ/m³ | ISO 6976 | Interchangeability indicator |
| Total Sulphur | ≤ 30 | mg/m³ | ASTM D5504 | Post-regasification |
| Hydrogen Sulphide (H₂S) | ≤ 3.3 | mg/m³ | ASTM D5504 | Sweet gas specification |
| Water Content | ≤ 1 | lb/MMscf | ISO 18453 | Dewpoint ≤ −10°C at 70 bar |
| Liquid Temperature | −161 to −160 | °C | Standard | At atmospheric pressure |
| Density (Liquid) | 420 – 470 | kg/m³ | ISO 6578 | Composition-dependent |
Curated market signals relevant to active LNG mandates and counterparty positioning.
European LNG receiving terminals are operating near maximum capacity for the third consecutive quarter. Gate terminal (Netherlands), Zeebrugge (Belgium), and the new Gioia Tauro FSRU (Italy) are fully booked through Q2 2026, reflecting sustained demand as the bloc reduces dependence on Russian pipeline volumes.
Following two years of elevated JKM spot prices, Japanese utilities JERA, Tokyo Gas, and KOGAS of South Korea have jointly signalled intent to lock in long-term supply agreements. Market sources indicate volumes between 2–4 MTPA are under negotiation with US Gulf Coast and Qatari suppliers for delivery post-2028.
The global LNG market enters 2026 in a state of structural tightness, shaped by three compounding forces: Europe's accelerated pivot away from Russian pipeline gas, a resurgence in Asian demand driven by post-industrial recovery in China and India, and the first wave of new US Gulf Coast liquefaction capacity reaching commercial operations.
European LNG imports reached a record 121 billion cubic meters (BCM) in 2025, a 14% increase year-on-year, as the continent's FSRU fleet and existing receiving terminals operated at sustained maximum utilisation. The commissioning of three new FSRUs in Germany, Finland, and Italy added critical flexibility, but infrastructure constraints at inland distribution points continue to create regional pricing distortions within the TTF basin.
"The structural shift in Atlantic Basin LNG flows is no longer cyclical — it is a permanent redrawing of the global trade map. Europe has replaced Asia as the primary destination for flexible spot cargoes."
In Asia, the recovery narrative is more nuanced. Chinese LNG imports, which contracted sharply in 2023 due to domestic economic headwinds, rebounded 22% in 2025 as industrial demand and city-gas consumption normalised. JKM spot prices, which averaged $9.80/MMBtu in 2023, have since recovered to the $13–15 range — a level that supports new project FIDs but constrains price-sensitive buyers in South and Southeast Asia.
For mandate holders and intermediaries, the key insight for 2026 is the growing bifurcation between spot and term markets. Spot market liquidity has thinned as European buyers absorb available cargoes at premium prices, while Asian utilities are actively pursuing long-term contracting to hedge against repeat spot volatility. Structured intermediation — particularly for 5–10 year SPAs between creditworthy Asian buyers and US Gulf Coast exporters — represents the most active deal flow segment entering the year.
Meridian is actively sourcing mandates in both the spot and long-term SPA segments, with particular focus on DES deliveries into North-West European terminals and FOB transactions from US Atlantic Basin exporters targeting Asian end-buyers.