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The US-Iran memorandum has been signed by both presidents, ahead of Friday's scheduled ceremony, and commits Iran to clearing Hormuz of mines within 30 days. Yet ADNOC's carriers are holding back: four sit dark off Khor Fakkan, home from earlier delivery runs, even as Qatar's Disha ran the strait in the open just as the deal broke.
Qatar could restore LNG production at unaffected Ras Laffan trains within a month after safe shipping through Hormuz resumes, sources told Reuters. Shipping and logistics are deemed the main bottlenecks, rather than plant operation.
Exxon Mobil has signed a preliminary LNG supply agreement with Zululand Energy Terminal (ZET), South Africa’s planned first LNG import facility, as the US energy major seeks to grow its global LNG supply to more than 40 mtpa by 2030.
Tehran will reopen the Strait of Hormuz immediately after the US and Iran signed a memorandum to end the conflict in Versailles late on June 17 – earlier than planned. Oil and gas prices fell sharply on the news, and LNG benchmarks trimmed the geopolitical risk premium that has buoyed them since the conflict intensified.
Japan’s JERA has received its first LNG cargo from Australia’s Barossa project, marking the start of contracted deliveries. Barossa has a nameplate capacity of about 3.4 mtpa, and JERA is entitled to lift roughly 425,000 tpy of LNG, reflecting its equity participation.
More than forty Qatari LNG carriers, some 3.4mmt of carrying capacity, waiting in- and outside Hormuz, eager to follow Disha’s open crossing. Vessels are not the constraint. The strait and the offline Ras Laffan trains are.
Following substantial completion of Train 6 of Corpus Christi Liquefaction Stage 3 project, Cheniere is rushing to finalise the full seven-train, 10 mtpa expansion later this year. The project will raise CCL’s liquefaction capacity to more than 25 mtpa.
European buyers are shying away from signing long-term offtake contracts for US LNG, making it harder for new export projects to secure financing and move towards construction.
Japan’s resale of US LNG to other countries in Asia – notably South Korea, China and India – has generated emissions equivalent to roughly 17 coal plants a single year, Zero Carbon Analytics’ (ZCA) latest report finds.
Grain LNG has opened an expression of interest (EoI) for 3 mtpa of regasification capacity available from 2029 at the UK’s second largest LNG terminal. The EoI runs through July 15.
