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Vietnam’s Vingroup has proposed dropping plans for what would have been Vietnam’s biggest LNG-fired power plant and replacing it with a renewable-plus-battery project. The 4.8 GW Hai Phong LNG-to-power project could be abandoned over high fuel costs.
Ukraine, which has begun building up gas reserves for next winter, has expressed interest in increasing its LNG supplies through Greek terminals and the pipelines of the Vertical Corridor system, according to Ukrainian energy company, Naftogaz.
Hormuz stranglehold. Iran plans to increase its hold over the Strait of Hormuz to secure long-term economic and security gains, Vice President, Mohammad Reza Aref has said.
The US Golden Pass LNG project, jointly developed by QatarEnergy and ExxonMobil, has achieved first LNG production from the first of three LNG trains.
Through its subsidiary INPEX Masela, Japanese energy developer, INPEX Corp has extended a memorandum of understanding (MoU) with Indonesian state owned energy company, Pertamina to pursue the implementation of the Abadi LNG project.
German gas importer, SEFE, is to issue a tender for medium term LNG deliveries from 2027 to 2036.
Energy majors, including Shell and Chevron, have warned Australia against introducing a windfall tax on LNG exporters.
They claimed it would deter investment and undermine energy security, as LNG prices surge amid disruption caused by the Iran war, according to a Reuters report.
Australia became the world's second-largest LNG supplier after Iranian strikes forced Qatar to halt production, while its export revenue is set to surge, due to the supply disruptions caused by the conflict.
Canberra is weighing options to capitalise on the higher prices, with Prime Minister, Anthony Albanese asking the Treasury Department to model a tax on LNG exports and suggest reforms to the Petroleum Resources Rent Tax (PRRT).
A suggested windfall tax could exceed 25%.
Cecile Wake, Shell Australia chair, which exports gas from the Queensland Curtis LNG project and operates the FLNG ‘Prelude’ off northern Australia, warned against "short-term fixes" in response to the energy crisis.
"At times like this, there is increased risk that strong and stable policy settings are sidelined by short‑term measures or populist rhetoric," she told the Australian Domestic Gas Outlook conference.
The proposed policies would "erode project values and render many of Australia's future growth opportunities uneconomic and uncompetitive compared to global alternatives," Wake said.
She added that high commodity prices "already flow through to Australians through higher corporate income tax and PRRT receipts."
Italian LNG importer, Edison has received a new notification of force majeure from QatarEnergy affecting LNG supplies scheduled for delivery at the Adriatic LNG terminal.
New Zealand's planned LNG import terminal might not proceed, as Prime Minister, Christopher Luxon has said that the government would approve the project only if the business case stacked up.
One month on. Is the US about to invade Kharg Island, Iran’s major oil hub in the Gulf, as President Trump has hinted?
Trump said over the weekend that the US and Iran had been meeting “directly and indirectly” and that Iran’s new leaders had been “very reasonable”.
