South Korea targets 18.8% share of LNG in power mix by 2030
Executives of South Korea’s state-run utility KOGAS have visited Alaska as the Ministry of Trade, Industry and Energy (MOTIE) targets to increase the share of LNG in the power gen mix from 16.9% currently to 18.8% by 2030. US LNG imports to Korea already more than doubled year-on-year amid an ongoing Free Trade Agreements renegotiation.
JERA secures Woodside LNG cargoes for Japan’s winter demand
Japan’s largest energy company JERA has signed a non-binding Heads of Agreement with Woodside Energy Trading Singapore to buy three LNG cargoes, or approximately 0.2 mtpa, during December to February to meet peakload power demand in the winter season. LNG from Australia will be shipped over a 5-years tenure starting from 2027.
OLT completes commissioning of FSRU Toscana terminal
OLT Offshore LNG, controlled by the Italian gas TSO Snam and Igneo Infrastructure Partners, has completed the commissioning of the new small-scale LNG service, offered through the FSRU Toscana terminal. Testing involved the bi-directional transfer of LNG between a small carrier – the ‘Avenir Aspiration’ operated by Axpo.
Freeport LNG seeks 40-month extension to complete Train 4
Developers of Freeport LNG have filed to the Federal Energy Regulatory Commission (FERC) for a 40-month extension to complete Train 4 expansion. If granted, the extension would postpone the in-service deadline from August 1, 2028, to December 1, 2031.
US baseload LNG supply to Asia forecast at 20% for July
Baseload US LNG supply to Asia – price-insensitive volumes that will head to the Pacific Basin regardless of JKM–TTF spreads – is averaging 20 percent, or 1.7 million for July. Outturn JKM prices are hovering around $12.98 per MMBtu, with analysts carefully observing developments around the Strait of Hormuz.
Canada may produce first LNG this weekend
The liquefaction process at massive LNG Canada terminal in Kitimat will start over the weekend. A tanker is on route to collect the first cargo from the plant which will initially operate at 25% capacity.
Vaca Muerta output gains make Argentina pivot towards LNG
Argentina's Vaca Muerta shale play has achieved significant first-quarter gains, with oil output rising 26% and gas production up 16% yoy, underpinning the Southern Energy LNG project. Financial close on MK II – one of two FLNG vessels supplied by Golar – is slated for Q3-2025.
Sempra reinstates Port Arthur LNG Phase 2 FID by end-2025
Sempra Infrastructure has resumed construction on the plant’s 13 mtpa Phase 1 foundations, after works were halted a fortnight ago due to a scaffolding collapse. Still, targeted FID on Porth Arthur LNG Phase 2 in the third quarter of 2025 remains in place.
Fragility of Japan’s LNG imports put Tokyo Bay supply at risk
JERA global chair & CEO Yukio Kani has pointed out the fragility of Japan’s LNG import system at an industry event in Tokyo Bay, where inventory covers just 10 days. “Any disruption could be critical, diversification is not optional,” he said, adding JERA secured 5.5 million tons of US LNG to meet post-2030 demand.
FERC approval for Commonwealth LNG paves way for $11bn project
Federal Energy Regulatory Commission’s (FERC) final order for Commonwealth LNG is affirming the authorisation of its 9.5 mpta LNG export terminal to be built along Calcasieu Ship Channel near Cameron, Louisiana. With FERC’s final order in place the $11 billion project can now go ahead.
