LNG

The Japan Korea Marker (JKM) for LNG delivery into northeast Asia for September could exceed $22/MMBtu at the start of this week as shipping disruptions widens and competition for Atlantic Basin cargoes intensifies between Europe and Asia.

The first cargo from Sempra’s Energia Costa Azul LNG terminal on Mexico’s Pacific coast is heading to South Korea, offering a new route for US LNG to Asian markets. The cargo, loaded aboard the Pacific Success, is still underway in the Pacific.

US developer Argent LNG is targeting a final investment decision (FID) within two years after securing Department of Energy approval to export nearly 1.3 trillion cubic feet per year (Tcf/y) of LNG from its proposed Port Fourchon terminal to countries with US free trade agreements.

Energy Aspects has pushed back its Qatari LNG ramp-up forecast by a further two weeks, now expecting a partial recovery from mid-August. Q3-26 loadings are seen at 5.4 million tons, down from 6.1 Mt previously, as markets price in elevated risk from prolonged Hormuz disruptions, though TTF is still unlikely…