LNG

Fracking in the Permian Basin has staged a record 11% annual rise in gas production, adding 2.7 bcf/d to reach 27.7 bcf/d, suppored by break-even prices as low as $61 per barrel in the Midland Basin, one of the Permian's largest oil and associated gas formations.

South Korea’s ruling Democratic Party today announced the abolition of spring caps limiting coal-fired plants to 80% capacity, alongside boosting nuclear utilization to over 80% from late-60s levels. “We aim to lift coal power caps to ease reliance on LNG for electricity generation,” an official from the Ministry of Trade, Industry and Resources said, pointing at government strategy to stabilize baseload power.

Japan’s largest LNG buyer JERA and its Korean counterpart KOGAS have agreed to deepen coordination in LNG operations by optimizing LNG shipping schedules and terminal utilization.

With more than 12 million barrels of oil equivalent per day (boepd) of Middle East crude oil and LNG production taken offline due to the Iran war, Russia emerges as the clear winner of global supply shortages. US President Trump’s sanctions relief for Russia’s short-term oil was meant to ease supply disruptions, but had little effect.

The Philippine government is regulating electricity rates to counter the risk of LNG-linked price inflation of up to 16 percent, amid Middle East shipping disruptions. Energy Secretary Sharon Garin is negotiating stable coal supplies from Indonesia to facilitate fuel switching and wants to temporarily cap spot power prices.

Squamish-based Woodfibre LNG has welcomed the arrival of its fifteenth liquefaction module as the project moves closer to complete construction by 2027. Weighing 10,847 metric tonnes, the liquefaction module is the heaviest module to become part of the future Woodfibre LNG facility. CEO Luke Schauerte calls it the “beating heart” of the liquefaction terminal.

Pakistan’s diverse domestic energy mix – nuclear, coal and hydropower – is cushioning the country from the global energy price shock following Qatar’s suspension of LNG exports. With nearly three-quarters of its electricity now generated from local sources, Pakistan managed to mitigate the immediate fallout of halt in its contracted long-term LNG deliveries from QatarEnergies.

Buyers in the EU have been snapping up all LNG from Russia’s Yamal terminal they can secure, just month before a full EU ban on Russian gas exports will take effect at the start of 2027.

Oslo-listed LNG shipowner Awilco launched a subsidiary ALNG Trading backed by a NOK 251.3 million ($26 million) private placement for shareholders and new investors, including a US partner.

Shell has declared force majeure on LNG cargoes it buys from QatarEnergy after Qatar halted output at a 77 mtpa terminal at Ras Laffan and suspended exports. Impacts on supply and term pricing are expected to start from April, while March deliveries largely continue as scheduled.