Alaska LNG aims convert JERA, TotalEnergies LoIs into firm offtake
Glenfarne and Alaska Gasline Development Corp are working to transform Letters of Intent (LoI) from JERA and TotalEnergies of France into firm, financeable offtake contracts, a critical step toward a final investment decision (FID) on the long-mooted $54 billion Alaska LNG export venture.
Total confirms oil, gas production target; sees LNG sales rise 50%
French major TotalEnergies on Monday confirmed its target to grow oil and gas production by around 3% a year through 2030, predominantly driven by LNG. Projects in Namibia, Nigeria, Libya, Malaysia, Mozambique and Papua New Guinea are meant to support the production plateau, while further growth of 2%-3% a year is planned between 2030 and 2035.
New Caspian gas from 2029 to ease Turkey’s LNG dependence
TotalEnergies, SOCAR and Abu Dhabi’s XRG have taken a final investment decision on the full development of Azerbaijan’s offshore Absheron field, securing up to 6 bcm/y of new Caspian gas from 2029. The additional volumes, destined mostly for Turkey via the TANAP pipeline, will help Ankara reduce reliance on spot LNG.
TotalEnergies lands term LNG deal with Korea’s GS Energy
French major TotalEnergies and South Korea’s GS Energy have signed a Sale and Purchase Agreement (SPA) for long-term supply of LNG, primarily to fuel GS Energy’s power plant fleet. Contracted volumes, or pricing terms were not disclosed.
Total wants to get $1.3bn loan repaid as it exits Arctic LNG 2
TotalEnergies has raised claims to get reimbursed approximately $1.3 billions for loans to Novatek’s Arctic LNG 2 project, as it completes its exits from the US-sanctioned Russian LNG project.
Pakistan’s powergen cost up 38% as spot LNG prices surge
Soaring LNG prices have propelled up Pakistan power generation cost by 38% year-on-year, analysis by local brokerage Arif Habib Ltd shows. The latest cargo, delivered in late July, was purchased from TotalEnergies $21.88/MMBtu – the highest price Pakistan LNG ever paid for a spot cargo.
Supply glut pushes LNG majors to tap SSLNG for demand growth
A record wave of LNG capacity coming online by 2030 is shifting the market’s binding constraint from supply to demand, with small-scale LNG (SSLNG) increasingly viewed not just as a niche segment but as a demand-creation tool.
Pakistan pays for supplier concentration
Pakistan LNG Ltd reportedly accepted a lone bid from TotalEnergies on 20 July, at $21.88 per MMBtu for a cargo nominally delivering on 27 to 28 July. It was the seventh spot purchase since QatarEnergy declared force majeure on 4 March, and the fifth procured for a July delivery window. The four before it cleared successively higher, at $16.74, $17.37, $18.23 and $20.70, the last of which was already the most expensive spot cargo Pakistan had bought since 2022. Not all of the purchased cargoes had berthed at the time of writing, according to our data.
Egypt close to sealing term LNG supply deal worth up to $11bn
Egypt is close to sealing a multi-year LNG supply deal that could lock in 15 to 18 cargoes a month for at least three years. Reuters calculations put the deal value at $8-11 billion a year, depending on pricing and volume, with final terms still under negotiation.
First cargo from Mexcio’s ECA LNG en route to Asia
TotalEnergies has shipped the first LNG cargo from ECA LNG Phase 1 in Mexico to Asia, marking a commissioning milestone for the 3.25 mtpa Pacific-facing terminal, feed with U.S. natural gas delivered by pipeline from Permian Basin.
