Asian countries are stepping up investment in domestic energy to curb reliance on imported LNG, as energy security overtakes cost following the three-month disruption of the Strait of Hormuz. China, India and Pakistan are accelerating spending on coal, renewables and nuclear power to reduce exposure to LNG imports.
Golden Pass LNG, the QatarEnergy and ExxonMobil joint venture, has received U.S. regulatory approval to begin preliminary commissioning activities on Train 2 – just two days after the company filed its request.
A suspected drone strike on a merchant vessel near the Strait of Hormuz is testing a fragile U.S.–Iran framework agreement to restore shipping flows through one of the world’s most critical energy corridors, with implications for LNG trade.
The European Union cannot set climate rules for the rest of the world as it moves to penalise LNG imports based on methane emissions, Philip Mshelbila, secretary general of the Gas Exporting Countries Forum (GECF) said at the Reuters Global Energy Forum in New York.
Vietnamese authorities in Nghe An province are urging PV Power to accelerate development of the $2.25 billion Quynh Lap LNG-to-power project with a view to bringing the 1,500 MW plant into operation by 2030 – even as imported fuel costs weigh on profitability.
Bureau Veritas has classed CMA CGM Notre Dame, a 24,092 TEU LNG dual-fuel ultra-large container ship delivered by Jiangsu Yangzi Xinfu Shipbuilding, marking the first in a planned series of 24 vessels for CMA CGM.
Most European LNG buyers are expected to import less than anticipated due to higher prices and tighter markets, with Poten & Partners estimating around 17 mtpa of demand destruction this year, particularly in Italy and Belgium.
Qatar expects to restore normal liquefied natural gas production “within a few weeks,” Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani told the Financial Times, provided the US and Iran establish a “hotline” to ensure safe passage through the Strait of Hormuz.
GE Vernova has secured an order to supply two 9HA.02 gas turbines and two H78 generators for Vietnam Electricity’s (EVN) Quang Trach II LNG-fuelled power plant, a combined-cycle facility expected to generate more than 1.6 GW. The plant, located in the Hon La Economic Zone in Quang Tri Province, is scheduled to begin commercial operations by 2030.
Qatar is repositioning LNG carriers back into the Middle East Gulf as loadings resume and is understood to be seeking short-term charter coverage. Offtakers are counting on QatarEnergy’s promise to reinstate at least half of Ras Laffan production capacity within a month of safe passage through the Strait of Hormuz being restored.