LNG

Egypt is seeking to import more LNG as electricity demand this summer is forecast to rise 8% above last year’s peak of 40 Gigawatt. Regasification capacity has been maximised, while the Damietta LNG export terminal gets used to store cargoes for emergency use.

Bangladesh’s Petrobangla and several Indian buyers are tendering for spot LNG, puling more than 11 cargoes away from Europe towards Asia by early April. Further diversions are likely since Indian companies awarded only 4 out of 15 spot LNG tenders for April and May so far, according to Platts data.

Canada is courting India as a priority market for LNG exports as Ottawa seeks to reduce the country's heavy reliance on the United States. Tim Hodgson, Canada's Energy and Natural Resources Minister, framed the country's dependence on the US market a “strategic misstep”, since 98% of Canadian energy exports still flow south of the border.

Woodside Energy and the East Timor government have agreed to use feedgas from the Greater Sunrise field for a proposed greenfield LNG terminal. Start-up is targeted as early as 2032 to 2035, subject to concept selection and investment decisions.

Qatar’s energy minister Saad al-Kaabi has threatened to halt LNG supplies to the European Union if the bloc proceeds with its planned supply chain directive. Katherina Reiche, the German energy minister will address the issue during her visit in Qatar this week.