Persian Gulf LNG exports slump after attack on Qatari cargo
Laden LNG transits through the Strait of Hormuz have dropped sharply, down from roughly 0.8 cargoes per day in late June to just 0.2 cargoes per day by July 15, as shipowners grow increasingly cautious after the attack on QatarEnergy LNG carrier Al Rekayyat. Only one LNG cargo is known to have transited the Strait of Hormuz in the past week, according to S&P Global Energy’s vessel-tracking data, while a growing number of LNG stored aboard tankers waiting inside the Persian Gulf for safer passage.
Singapore secured sufficient LNG to last until year-end
Singapore has secured enough LNG from outside the Middle East to last through the end of this year, as state-owned buyer GasCo accelerated spot purchases to replace cargoes affected by disruptions around the Strait of Hormuz. Negotiations are underway for long-term offtake from the US, Australia and Canada.
US gas exports to grow 30% by 2027 as LNG terminals ramp up
Five US LNG projects are set to start operations and ramp up productions by the end of 2027, adding nearly 30% to the country’s current peak export capacity of 18.3 bcf/d and helping offset 10 Bcf/d of damaged Qatari export capacity, according to US government analysts.
