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.
Ignitis buys more US LNG, adds Henry Hub exposure
Lithuania’s Ignitis has agreed to buy U.S.-linked LNG from EQT, under a sales and purchase agreement (SPA) covering 10 cargoes delivered each year between 2027 and 2036. The deal marks Ignitis first long-term SPA with a US company and introduces Henry Hub-linked pricing into its procurement portfolio.
Shell CEO hesitant to invest equity in US LNG infrastructure
Shell CEO Wael Sawan has expressed reluctance to spend the company’s own equity on US LNG projects, citing the availability of low-cost infrastructure funding. His remark signals a shift towards prioritising shareholder returns over equity commitment in an increasingly oversupplied global LNG market.
