US, Canada offset 70% of lost LNG supply via Hormuz
Soaring LNG trade flows from the US and Canada have offset around 70% of the lost supply via the Strait of Hormuz, though further military escalations in the region and delays in restoring Qatari exports keeps could prolong market tightness into 2027, the International Energy Agency (IEA) warns.
MidOcean Energy gets UAE royal-backed funding
The Private Department of Sheikh Mohammed Bin Khalid Al Nahyan has committed to slash out $1.13 billion on MidOcean Energy, marking its first entry into the global LNG sector. The investment strengthens MidOcean's capital base and supports its strategy to expand its diversified global LNG portfolio
Vaca Muerta gains LNG traction amid Middle East supply risk
Argentina’s Vaca Muerta shale is drawing investor interest to a 15-block licensing round for blocks suited for LNG feedgas development. The bidding round comes as LNG buyers reassess their portfolio exposure to supplies chains build around the Strait of Hormuz. Disruption or perceived risk to future LNG exports from Qatar and the UAE have increased interest in Atlantic Basin alternatives.
UAE’s exit from OPEC to reshape oil-linked LNG pricing
The United Arab Emirates’ decision to leave OPEC is ushering in a more volatile oil market, with implications for LNG pricing – particularly in Asia, where many contracts remain indexed to crude benchmarks.
ADNOC reduces LNG production at Das Island
ADNOC Gas has lowered LNG production at its 6 mtpa Das Island plant and is now working on a “transaction-by-transaction basis to fulfil its contractual LNG commitments, the company said in a stock exchange filing.
Middle East LNG export ambitions require over $50 billion in CAPEX
By 2028, the Middle East envisages to add 60 mtpa of new LNG export capacity and developments will require more than $50 billion in capital spending, Rystad Energy forecasts. Qatar will lead the expansion with 48 mtpa alone through its North Field East and North Field South projects, the UAE will contribute 10 mtpa from the Ruwais LNG project, and TotalEnergies is developing the Marsa LNG project with a capacity of 1 mtpa in Oman.
Abu Dhabi gives vote of confidence to US LNG by buying over 5 percent stake in Cheniere Energy
Abu Dhabi, the wealthiest emirate in the United Arab Emirates, has taken a more than 5 percent stake in Cheniere Energy, the largest US exporter of liquefied natural gas from its Sabine Pass and Corpus Christi LNG export plants in Louisiana and Texas.
LNG producer Abu Dhabi awards huge sour gas project contracts to Bechtel and TechnipFMC
Abu Dhabi, a long-standing LNG producer and exporter, has awarded the two front-end engineering and design contracts for its planned offshore sour gas mega-project, consisting of the Hail, Ghasha and Dalma fields.
Sharjah fast-tracks FID on floating LNG import terminal to curb power shortages
Sharjah National Oil Co. (SNOC) seeks to fast-track its financial investment decision (FID) on deploying a floating gas storage and regasification unit (FSRU) in the emirate to end power shortages at times of peak summer demand. Financial close is envisaged before the end of 2017, with aim to start importing LNG by early 2019.
UAE awaits Angola LNG
June 16 (LNGJ) - The United Arab Emirates has turned to the southwest African LNG plant in Angola for supplies to help replace volumes normally shipped from Qatar. The 160,400 cubic metres capacity carrier “Malanje” is scheduled to deliver a cargo on June 29 to the UAE import facility at the port of Jebel Ali in Dubai, according to shipping data. The UAE imported 3.10 million tonnes of LNG in 2016. Among the largest volumes, 950,000 tonnes came from Qatar, 750,000 tonnes came from Nigeria and there were no deliveries from Angola.
