LNG

Taiwan’s state-owned CPC Corp is moving closer to buying 6 million metric tons a year of LNG from Alaska LNG, with deliveries targeted from 2032 at the earliest as the company is considering investing up to $4.4 billion in the Glenfarne-led project.

Venture Global is in preliminary discussions to sell additional US LNG volumes of LNG to Chinese buyers. For PetroChina, the potential supply would total more than 1 mtpa, people familiar with the matter told Bloomberg.

Glenfarne, lead developer of the Alaska LNG project, claims that liquefying Alaska’s North Slope gas and shipping it to Asia would be at least 65% cheaper than shipping LNG from the US Gulf Coast. Brushing aside criticism over the project’s high cost, Glenfarne told Reuters that the Alaska LNG project itself entails some $1.4 billion per mtpa in delivery costs.

Chevron is expanding its LNG portfolio through long-term offtake agreements rather than committing billions of dollars to develop new liquefaction plants – a strategy aimed at lifting tradable LNG volumes to more than 20 mtpa by 2030.

ConocoPhillips has committed to offtake 1 million ton per annum (mtpa) of LNG from Venture Global for 20 years, starting in 2020. The deal further expands Venture Global’s sales portfolio. The company has over 100 mtpa of capacity in production, construction, or development making it one of the largest US LNG exporters.

Venture Global has filed with the U.S. Federal Energy Regulatory Commission (FERC), seeking authorization to place its Phase 1 Plaquemines LNG export terminal into service, the final regulatory hurdle before commercial start-up. If approved, Venture Global could meet its targeted Q4-2026 commercial operation date.

QatarEnergy expects the first 8 mtpa liquefaction train at its North Field East (NFE) expansion to start up in the first half of 2027, but the timing of subsequent trains will hinge on a sustained reopening of the Strait of Hormuz, CEO Saad Sherida Al‑Kaabi said.

Sempra Infrastructure has opened the FERC pre‑filing process for Port Arthur LNG North, a four‑train, 27 mtpa expansion of its Texas export terminal that could start shipping LNG in late 2034, if approved by the US energy regulator and financing is secured.

The Alaska LNG project has emerged as South Korea’s likely first U.S. investment under a $200 billion trade deal, with Seoul signalling a possible announcement in late August or early September.

The arbitrage for flexible US LNG cargoes heading to Asia is open with spreads between the Japan Korea Marker (JKM) and the Dutch TTF widening, as the tepid recovery of Qatari and UAE LNG exports is unlikely to outpace rebounding Asian demand.