LNG

Delfin Midstream is close to signing a contract with Samsung Heavy Industries for the supply of the second and third floating liquefied natural gas (FLNG) vessels for its Delfin LNG export project in Louisiana.

Italy’s Fincantieri has said it will maintain a “warm” production line for LNG bunker barges and specialized commercial vessels, signalling continued readiness to meet demand in alternative marine fuels. The Trieste-headquartered company is also targeting US naval shipbuilding as part of its strategic expansion. 

Three engines are pulling LNG demand higher, and none of them depends on how the Middle East conflict resolves. The first is North American power.

Five companies – Equinor, Gasum, Ignitis, Latvenergo and Naftogaz – have booked more than 20 TWh, or around 71% of the offered regasification capacity at the Klaipėda LNG terminal in Lithuania. About 12 TWh were allocated until 2040 ad the remaining 8 TWh through 2044, marking a decisive step in securing long-term gas supply for the Baltic region. Klaipėda LNG, also called FSRU Independence, has a regas capacity of 3.75 bcm/y equalling about 3.12 mtpa.

Caturus, a Houston-based independent gas company, has secured $9.75 billion in project finance-style debt for its Commonwealth LNG, with total equity and debt commitments reaching $21.25 billion.

Cash-rich incumbents are leading the next wave of brownfield US LNG expansions, as the Iran war has escalated project costs, disproportionately disadvantaging greenfield projects – such as Argent LNG – that lack existing infrastructure.

Abu Dhabi National Oil Company’s (ADNOC) is exploring investments in Canada’s upstream and LNG sectors through its affiliate XRG, upstream CEO Musabbeh Al Kaabi said at the at the Global Energy Show in Calgary this week.

Japan’s Inpex is seeking urgent orders from Australia’s Fair Work Commission to block a strike at its Ichthys LNG facilities. The move follows unions' threats to escalate strike actions starting Thursday after wage negotiations failed, raising the risk of disruptions to roughly 10% of Australia’s LNG exports in an already tight market.

A fifth Qatari LNG cargo, aboard the Al Daayen, has transited the Strait of Hormuz bound for China where it is expected to arrive on July 6, ship tracking data shows. Yet the cargo could change destination last minute, mirroring four China-bound US LNG cargoes that were diverted to South Korea and Japan instead.

Prolonged LNG price volatility is upending sales and purchase agreements (SPAs) as traders sound alarm over JCC/Henry Hub swings eroding fixed-price economics. Risk-averse buyers increasingly demand take-or-pay flexibility, diversion rights and reopeners to avert margins getting eroded or wiped out.