LNG

South Africa’s state -owned Transnet National Ports Authority (TNPA) has signed a 25-year terminal operator agreement with Zululand Energy Terminals (ZET) to develop the country's first LNG import terminal at Richards Bay’s South Dunes precinct.

The last two years saw a significant slowdown in the growth of global seaborne LNG trade.

German state-owned LNG terminal operator Deutsche Energy Terminal (DET) has marketed regasification capacities at the Brunsbüttel and Wilhelmshaven 01 terminals for 2025 via the digital marketing platform Prisma.

On four marketing days, on 23rd December, 2024 and between 4th and 6th February, 2025, some 17 market participants acquired time slots to use the regas capacities (short-term capacities) at the two sites this year.

Slots were marketed both with and without obligation to deliver for the traders.

All 50 slots offered were sold. The average price achieved in the December auction was €0.11 per MMBtu, while the average price in the February auction was €0.30 per MMBtu.

“We are pleased that we were able to complete the current marketing round successfully under tight time constraints. Our offer was well received by the traders and all the slots we offered were marketed. At the same time, we are looking ahead as the currently declining storage levels must be replenished in good time during the year,” said Dr Peter Röttgen, DET Managing Director.

DET also said that it would inform the market and the public about the next marketing rounds in due course. 

Kosmos Energy has confirmed that first LNG production had been achieved at the bp-operated Greater Tortue Ahmeyim (GTA) project, offshore Mauritania & Senegal.

Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and GAIL India are considering purchasing US LNG, India’s Oil Secretary, Pankaj Jain told reporters in New Delhi on Monday.

US infrastructure developer, Harvest Alaska has signed an agreement with Marathon Petroleum Corp (MPC) and Chugach Electric Association to boost Southcentral Alaska's energy supplies.

Abu Dhabi-based ADNOC Gas delivered a record $5 bill net income last year.

In addition, the 2024 $8.65 bill EBITDA was a rise of 14% year-on-year.

A full year dividend of $3.41 bill was confirmed, growing by 5% per annum.

Adjusted revenue rose by 7% y-o-y to $24.43 bill, driven by greater diversified growth in the UAE economy.

ADNOC Gas also reported its highest quarterly income of $1.38 bill for the fourth quarter of last year since its IPO.

CEO Fatema Al Nuaimi, said: “Our record-breaking fourth quarter results demonstrate our ability to deliver on our ambitious growth strategy as we seek to realise EBITDA growth of over 40% by 2029.

“ADNOC Gas’ evolution into one of the highest income generating companies listed in the UAE, which is a testament to our commitment to create long-term and sustainable value for our shareholders, as we invest in growth projects to meet the growing demand for lower carbon domestic gas, LPG and LNG, both locally and globally as key fuels in the energy ttransformation," she said.

The company’s updated strategy was unveiled after 3Q24, which targets an EBITDA increase of over 40% by 2029 and entails capital expenditure (CAPEX) of up to $15 bill for the 2025/2029 period.

This includes the acquisition of ADNOC’s 60% share of the lower-carbon intensity Ruwais LNG project at cost in 2H28. 

Recently formed LNGC player, Capital Clean Energy Carriers Corp (CCEC), has reported a considerable increase in fourth quarter 2024 net income, due to the addition of five LNGCs.

An agreement has been signed by funds advised by Basalt Infrastructure Partners to add a newbuilding 180,000 cu m LNGC to the Vanadis LNG platform.

French engineering company, GTT has signed a co-operation agreement with two major Chinese companies.