LNG

Argentina’s state-controlled YPF, together with partners Eni and XRG, has submitted an application to enrol the Argentina LNG project in the country’s Large Investment Incentive Regime (RIGI). The $51 billion project will export liquefied natural gas from the Vaca Muerta shale formation, with operations targeted to begin in 2031.

Cambodia is adhering to its plan to begin LNG imports in 2027, with the government’s timeline anchored by the 900 MW Botum Sakor LNG-fired power project. The plant’s first 450 MW unit is scheduled to start operation in April 2027, followed by a second unit in December.

JERA Americas is advancing an LNG-fuelled power project on Hawaii, developed at a cost of $1.5 billion for the 500 MW plant plus around $500 million for offshore LNG import terminal.

INPEX, Japan’s largest exploration and production company, has signed a 15-year sales and purchase agreement to offtake 1 mtpa of LNG from ADNOC Ruwais LNG project, further advancing commercialization of the UAE-based liquefaction project.

Italy’s energy major Eni has agreed to acquire a 32% interest in three upstream blocks in the Vaca Muerta basin, designated as feedstock for an Argentine LNG export project. Argentina’s state oil company YPF, together with Eni and the Abu Dhabi-based investment firm XRG are working intensively to reach FID on the 12 mtpa Argentina LNG project during the second half of 2026.

Vietnamese authorities in Nghe An province are urging PV Power to accelerate development of the $2.25 billion Quynh Lap LNG-to-power project with a view to bringing the 1,500 MW plant into operation by 2030 – even as imported fuel costs weigh on profitability.

Caturus, a Houston-based independent gas company, has secured $9.75 billion in project finance-style debt for its Commonwealth LNG, with total equity and debt commitments reaching $21.25 billion.

Cash-rich incumbents are leading the next wave of brownfield US LNG expansions, as the Iran war has escalated project costs, disproportionately disadvantaging greenfield projects – such as Argent LNG – that lack existing infrastructure.

Vietnam’s Vingroup has proposed scrapping plans for what would have been the country’s largest LNG-fired power plant and replacing it with a renewable‑plus‑battery scheme, as soaring LNG prices make the 4.8 GW Hai Phong venture financially unviable.

Vietnam’s Vingroup has proposed dropping plans for what would have been Vietnam’s biggest LNG-fired power plant and replacing it with a renewable-plus-battery project. The 4.8 GW Hai Phong LNG-to-power project could be abandoned over high fuel costs.