Domestic stability continues.

According to the latest reports, today's global gas prices reversed course and fell slightly by 1.24% to $3,438 USD/mmBTU. In the domestic market, retail gas prices in May remained stable for the second consecutive month, following the trend of global gas prices.

World market

According to Oilprice.com at the end of the week, world natural gas prices reversed course and fell slightly by 1.24% (equivalent to a decrease of $0.041) to $3.438/mmBTU at the time of the survey.

Winter is ending in the Northern Hemisphere, leading to a decrease in heating demand and consequently a temporary weakening of LNG consumption in key markets such as Europe and Asia. However, this decline does not necessarily reflect a long-term trend, especially given that geopolitical factors and trade policies continue to drive LNG demand.

In Europe, despite a slight decrease in demand compared to the previous month, LNG imports from the US remain high. In March, the EU imported a record 7.04 million tonnes of LNG from the US, falling to 5.88 million tonnes in April, but still far exceeding last year's average of 3.76 million tonnes per month. Since the beginning of 2025, US LNG has accounted for 55% of Europe's total LNG imports – a figure that President Trump may consider a major achievement in his foreign energy policy.

In the domestic market, retail gas prices in May remained stable for the second consecutive month, following the trend of global gas prices.

Simultaneously, Europe has reduced its total gas imports through "demand destruction"—that is, reducing consumption through energy saving measures and industrial adjustments. However, Russian gas still contributes significantly to total imports, despite EU efforts to reduce dependence. This suggests that demand for LNG imported from the US will likely increase again as Europe prepares to stockpile for the upcoming winter.

In Asia, China unexpectedly halted LNG imports from the U.S., forcing American exporters to seek other customers in the region. Fortunately, Japan and South Korea remain major customers, while India is emerging as a potential destination, partly because it is working to reduce its trade surplus with the U.S. – in line with the Trump administration's direction.

However, the U.S. is facing a serious bottleneck in its supply chain: new port fee regulations for ships built in China, announced by Trade Representative Jamieson Greer, aimed at boosting the domestic shipbuilding industry. Meanwhile, most current LNG carriers are manufactured in China or South Korea, and the U.S. has neither built any of its own LNG carriers nor has sufficient capacity to build new ones before 2029. Shipping organizations such as the Baltic and International Maritime Council, along with investment management firm PIMCO, have warned that these regulations will drive up shipping costs, disrupting LNG exports.

In fact, the global shipbuilding industry is overloaded: demand for LNG carriers has increased by 25% in 2024, with the majority of orders going to South Korea (68 vessels) and China (41 vessels). US exporters may be able to utilize South Korean vessels in the long term, but in the short term, shipping will be affected unless there are adjustments to port policy.

This situation is becoming even more urgent as LNG demand is expected to rise again soon. Europe needs to stockpile gas for the winter and will continue to seek to completely replace Russian gas, regardless of the cost. China's temporary suspension of US LNG imports has created a temporary surplus of US supply, helping to keep prices low for Europe, but as other countries (such as India) increase purchases to adjust their trade with the US, LNG prices are likely to rise again – and not in a way that benefits European consumers.

Domestic market

Domestic retail gas prices in May remained stable for the second consecutive month, following the trend of world gas prices. Specifically, the retail price of Petrolimex gas cylinders (including VAT) in Hanoi in May 2025 was 457,400 VND/12 kg household cylinder; and 1,829,600 VND/48 kg industrial cylinder, unchanged from the price in April 2025.

For the Eastern and Southwestern regions of Vietnam, Southern Gas Trading Joint Stock Company (Gas South) announced that retail prices for May remain unchanged compared to April, applicable to the company's gas cylinder brands including: Gas Dầu Khí, VT-Gas, A Gas, and JP Gas. Accordingly, the price of gas to consumers is VND 475,400/12kg cylinder and VND 1,784,111/45kg cylinder (including VAT).

A representative from Petrolimex Gas Corporation stated that although the average world gas price contract for May 2025 is set at $600/ton, a decrease of $10/ton compared to April 2025, Petrolimex Gas Corporation will not adjust prices due to fluctuations in the USD exchange rate.

Source: https://baodaknong.vn/gia-gas-hom-nay-3-5-trong-nuoc-tiep-tiep-on-dinh-251325.html