ExxonMobil has acknowledged damage to two LNG trains in Qatar was responsible for half of its 6% worldwide production outage, indicating the 3% Ras Laffan shortfall could linger on for up to five years, considering the repair timeline.
NextDecade is preparing for a 2027 final investment decision (FID) for Train 6 at its Rio Grande LNG project, as offtake interest already exceeds the facility’s planned capacity.
Claims and counter claims, as situation escalates. A South Korean ship operated by HMM, identified as the multipurpose cargo ship, ‘HMM Namu’, suffered an explosion in the Strait of Hormuz on Monday, the cause of which is thus far unknown.
Due to the closure of the Strait of Hormuz, this has created a need for more tank storage capacity in India, local media has reported.
The Egyptian government has raised natural gas supply prices for its industrial sector, setting a minimum selling price of no less than $6.50 per MMBtu.
South Korea’s large diversified shipowning entity, Pan Ocean’s results have beaten market expectations in the first quarter of this year, helped by strong performance in its LNG and tanker businesses.
Greek gas company DEPA has been awarded the tender for one LNG held by Bulgargaz. Delivery of the cargo will be to the Marmara Ereğlisi LNG terminal in Turkey.
QatarEnergy has extended force majeure on term LNG deliveries through mid-June, with Edison notified of a 10-cargoe shortfall while Petronet says it expects to receive its full contacted Qatari LNG volumes once Hormuz transits resume.
The US Department of Energy (DOE) and American companies have announced “billions of dollars” of LNG and gas pipeline-related infrastructure investment across Central and Eastern Europe (CEE). The key objective of Trump’s ‘Peace Pipeline Framework’ and the broader ‘Three Seas’ supply corridor is to facilitate more US LNG imports.
Australia’s Woodside Energy is struggling to market volumes from its planned Louisiana LNG terminal, as its higher liquefaction fees put the 16.5 mtpa project at a disadvantage to US rivals.