LEAD STORY
The EU's ban on Russian LNG takes effect in stages from April 2026 through January 2027. Europe built the infrastructure. Then the Persian Gulf crisis arrived to test whether it had secured the supply, our Markets Editor Dr Alexander Wilk writes.
Developers scramble to fast-track new LNG export capacity, marketed as ‘geopolitically safe’, as force majeure on Qatari shipments acts as a catalyst and opens a narrow window for rival projects. Three to five years – that’s the timespan available for U.S. and Canadian exporters to capture displaced demand; our Markets Editor Anja Karl has more.
Also in this issue
Maritime war insurance for vessels in the Persian Gulf has been unavailable since the earliest days of the armed conflict between Iran, the United States and Israel. The Iran conflict and effective Hormuz blockade has a far-reaching impact on LNG sale and purchase agreements (SPAs), dependent on their contractual terms, termination rights and wider implication for projects bankability; James Douglass, energy partner at Keystone Law explains.
Asian LNG spot eased in April even as Brent rallied 15 percent on continuing Persian Gulf tensions. The market is clearing at substantially lower global volume: demand softening across buyers in Asia and Europe absorbed the larger share of the Qatari shortfall, with Atlantic-to-Pacific cargoes rising 1.19MMt month-on-month as the visible flow mechanism, our Markets Editor Dr Alexander Wilk writes.
LNG bunker vessels should be designed as service vessels
Written by AJ KotzeOperators must recognise the need for flexible, capable assets that can add value to a wide range of operations, writes Rostom Merzouki, ABS’ Vice President - Global Sustainability.
CoreMarine & Jumbo Offshore have been awarded a contract to perform the transport and installation of the soft-yoke (SSY) mooring systems, and hook-up of both the ‘Hilli Episeyo’ FLNG and the MKII FLNG in Argentina’s Golfo San Matías.
UK-based rotating equipment supplier, John Crane, part of Smiths Group, has been responsible for a 99.8% reduction in water consumption at a Louisiana LNG export facility.
GTT Cubic LNG tank AiP, opens new vessel design opportunities
Written by AJ KotzeApproval in Principle (AiP) for an innovative new, shape optimised LNG fuel containment system promises to offer a range of advantages for future vessel design. Fuelling Editor Malcolm Ramsay has more.
A round-up of latest events, company and industry news
Written by AJ KotzeALBANIA: AKTOR LNG USA, a subsidiary of Greek energy company, AKTOR has signed a long-term sales and purchase agreement (SPA) with ALBGAZ, Albania’s state-owned natural gas company, to import US LNG for 20 years.
Under the terms of the agreement, AKTOR LNG USA will supply ALBGAZ with 1 bill cu m of LNG per annum, starting in 2030.
