LNG

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.

JP Morgan considers Venezuelan gas as a “backfill option for Trinidad & Tobago’s LNG facilities." Train 1 of Trinidad LNG’s three liquefaction trains is currently idled due to a lack of domestic feedgas.

Matador Resources Company, the oil and natural gas independent in the southwest United States, has entered into an agreement to acquire shale assets in the Delaware Basin of West Texas and New Mexico for $1.905 billion in cash as the current US mergers and acquisitions wheel continues to turn.

Delek Group, the Israeli developer of the Leviathan natural gas project in the East Mediterranean to supply Israel and neighbouring countries, has signed a first phase financing deal for up to $1.75 billion to start development of the Leviathan project.

Australia's Hastings Funds Management will divest its 25% stake in Freeport LNG Development L.P. to specialist fund Global Infrastructure Partners, who agreed to pay $850 million - over five times more than what Hastings paid for years ago.