LNG

One US LNG cargo reached China on 16 July, the first in seventeen months, but it may never be imported. Our tracking shows the Al Fat'h diverted from Huizhou, an ordinary customs berth, to bonded Yangpu, where a cargo can wait, clear customs, or leave again with duty never falling due. Which of those happens is not yet knowable, and Beijing's tariff on US LNG still stands.

Venture Global’s average liquefaction fee surged 69% in the second quarter to an average $6.45 per million British thermal units, up from $3.82/MMBtu in the first quarter, as higher LNG prices lifted returns on commissioning cargoes and short-term sales, the company said in a regulatory filing.

Venture Global and Greece’s Atlantic-SEE LNG Trade have doubled the volume under their long-term supply agreement, raising the commitment to at least 1 mtpa of US LNG starting in 2030 for a two-decade tenure.

Venture Global and Thailand’s state-controlled energy giant PTT PCL are in advanced talks for binding LNG offtake, supposedly from the Plaquemines or CP2 export facilities in Louisiana. If finalized, the deal would help diversify Thailand’s LNG supply away from Middle Eastern sources.

CPC Corp, Taiwan’s state-run LNG buyer, has redirected spot and short-term tenders to US producers like Cheniere or Venture Global to offset suspended Qatari supplies. Customs data show monthly imports reached 2.07 million tonnes in April, up 4.34% year-on-year, with the upward trend continuing.

Venture Global is working with countries all over the world to deliver critical cargoes. CEO Mike Sabel said the company is prepared to seal contracts for short-term delivery periods with potential LNG purchasers. Speaking at CERA Week in Houston, Texas, alongside Louisiana Governor Jeff Landry, the Venture Global CEO touted: “We have the most available LNG for years to come.”

Venture Global LNG has agreed to sell about 0.5 mtpa of US LNG to commodity trader Trafigura for five years starting in 2026. The contract highlights how traders are locking in flexible US LNG volumes to brace for the risk of a protracted halt of shipments out of Qatar.

Greece has signed its first long-term LNG supply contract, agreeing to purchase at least 700 million cubic meters annually from Venture Global for the next 20 years. The LNG will be procured by a Greek partnership between AKTOR and DEPA Commercial, with an option to expand the annual offtake to 2 billion cubic meters.

Venture Global has requested regulatory approval to feed natural gas into the final block of its Plaquemines LNG plant by Thursday. If FERC approves, LNG will soon be produced at all 36 trains of the 27.2 mtpa liquefaction terminal – more than a year before long-term offtakers were meant to receive their contracted cargoes.

Venture Global is advancing talks to ship more LNG cargoes from its Plaquemines terminal in Louisiana to Ukraine’s largest private energy company DTEK, as the war-torn country scrambles to secure energy this winter. Delivered gas could cost a premium to spot LNG imports into northern Europe.