LNG

China’s state-owned oil and gas company CNOOC sees potential for an energy cooperation with the US, and would consider investing alongside US partners in future projects, a senior executive said, as signs of a thaw in trade relations emerge.

High prices are causing a drop in seaborne coal imports to India, though LNG is no alternative due to supply constraints and record prices, leaving Indian utilities struggling to meet soaring electricity demand this summer.

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.

New Zealand’s government is aiming to sign a contract for developing the country’s first LNG facility before the November general election, with energy minister Simeon Brown saying a preferred bidder is likely to be selected before the vote. Imported LNG is intended to insulate New Zealand against drought risk, which can undermine its mainstay hydropower generation.

Europe is hard pressed to start importing LNG as storage levels are below 30% as of mid-April. The EU27 would need an optimal LNG supply equivalent to 86 bcm for six months, the European Network Transmission System Operators for Gas (ENTSOG) said in its summer 2026 outlook.

Australian developer Viva Energy has received federal environmental approval for its proposed floating LNG import terminal at Geelong, deemed vital to offset declining domestic gas production in Victoria.

India’s energy security is under strain due to loss of Qatari LNG deliveries, prompting Petronet to activate emergency clauses in other import agreements and scrambles for spot cargoes from Australia and the US to offset the shortfall.

US-Israeli air strikes against Iran has exposed Asia’s vulnerability to imported LNG and the lack of energy self-sufficiency through domestically generated clean energy. China, India, Japan and South Korea account for 75% of oil and 59% of LNG flows through the chokepoint.

Dutch terminal operator Vopak has delayed its final investment decision (FID) on South Africa’s first LNG import facility until the first quarter of 2028. The decision follows a court order, halting state utility Eskom’s plans for a 3,000 MW LNG-fuelled power plant at Richards Bay.

Turkey’s state energy company Botas has renewed its pipeline gas contract with Russia’s Gazprom, keeping volumes unchanged at 21.8 bcm/y. Analysts say this removes much of the upside risk to Turkey’s LNG demand in 2026.