LNG

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.

Japanese utility Inpex has signed preliminary deals with BP and Shell Eastern Trading, as well as the Indonesian companies PLN Energi and Perusahaan Gas Negara, to offtake LNG from the 9.5 mtpa Abadi liquefaction project. The accords take the project closer to a final investment decision (FID) in 2027.

BP posted strong first quarter 2026 results, with higher Gulf of Mexico output offsetting Middle East disruptions and a North Sea divestment. Adjusted net profit hit $3.2 billion, more than double the nearly $1.4 billion a year earlier, the London-based company announced today.

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.

Lower oil prices are eroding profit margins of global oil and gas companies, forcing deeper structural cost cuts and threatening share buyback programs. If oil prices stay below $70 per barrel, supermajors’ free cash flow could plunge by up to 30 percent in 2026, Wood Mackenzie forecasts.

BP has secured an arbitration victory against Venture Global which was found in breach over its failure to deliver contracted cargoes from the Calcasieu Pass facility. Seeking over $1 billion in damages, BP stressed it will "vigorously defend" its position in subsequent proceedings.

Unfavourable market conditions for renewables and other low-carbon energy sources have prompted Shell, BP, TotalEnergies and Eni to bolster their core upstream operations. Reserve replacement should support future cash flows, Fitch Ratings reckons.

Kosmos Energy has halved its forecast 2025 capex budget to $400 million after posting a $7 million net loss in the fourth quarter. The independent oil and gas producer now prioritises on generating free cash flow, notably from the Greater Tortue Ahmeyim (GTA) project where a first LNG cargo is lined up.

LNG is a controversial topic in Germany: Green paint was thrown at the back entrance of Berlin’s luxury Hotel Adlon at the opening day of the Global LNG Summit while Stefan Wenzel, state secretary to Germany’s economy minister Robert Habeck spoke just prior to a panel with top executives from Cheniere Energy, ADNOC Gas, Shell and bp.

UK major BP posted solid results as its LNG portfolio increased to 23 million tonnes per annum and fourth-quarter results reflected stronger natural gas marketing and trading activities as well as higher oil prices.