LNG

Maintenance workers at Woodside Energy’s North West Shelf and Pluto LNG export plants in Australia went on strike late Wednesday after talks with contractor UGL collapsed. The NWS terminal in Karratha produces 14.3 mtpa of LNG, while Pluto has a capacity of 4.9 mtpa, making them a material source of Australian LNG supply.

Britain has eased restrictions on Russian LNG shipping by issuing a temporary licence for cargoes from the Sakhalin-2 and Yamal terminals bound for third countries, as Whitehall responds to tighter gas markets and soaring energy prices. The carve-out runs until January 1, 2027, and only applies to contracts with a duration of one year or less.

China is preparing to take a symbolic step by launching LNG futures denominated in yuan, rather than US Dollars. Such a listing would give Chinese buyers a domestic pricing and hedging tool at a time when energy markets remain highly exposed to geopolitical risk.

A consortium led by South Korea’s SK Innovation, Vietnam’s PV Power, and Japan’s NASU has broken ground on a $2.3 billion LNG-to-power project in Vietnam. The Quynh Lap project will have a power generation capacity of 1,500 MW, fuelled by imported LNG.

Persistent disruptions to LNG flows through the Strait of Hormuz bolster Russia’s chances of getting the Power of Siberia II pipeline built. A 2032 startup would give Gazprom a new major outlet, as the EU’s 2027 ban on Russian LNG reshapes Moscow’s long-term export strategy.

China wants to buy more American oil and may lift its 25% tariff on US LNG imports as “energy is the one thing they really need,” President Donald Trump told Fox News. Beijing could unilaterally approve the resumption of US LNG imports, but the country has proven resilient to Qatari supply disruptions in the third month of the Middle East conflict.

Caturus has taken a final investment decision (FID) on its 9.5 mtpa Commonwealth LNG export project in Louisiana, supported by $9.75 billion in total financing and several long-term offtake agreements. Construction just begun, with first LNG targeted in late 2029 and full operations by 2030.

LNG Canada, the federal government, and British Columbia have agreed on a process to resolve the remaining “final items” needed to support a potential 2026 financial investment decision on the terminal’s Phase 2 expansion.

Two shipping majors – TMS Cardiff Gas and BW Group and – have placed LNG carrier orders at South Korean shipyards, including the word-first three-tank carrier order. Expansion in the gas carrier segment is driven by rising ton-mile demand as Asian buyers replace curtailed Qatari volumes with cargoes from North America.

Abu Dhabi's sovereign wealth fund Mubadala Energy has backed Kimmeridge’s $13 billion Commonwealth LNG project in Louisiana with equity financing, enabling the project to reach financial close.