LNG

Italy-based Adriatic LNG has launched the accreditation phase for its Open Season 2026, offering medium- to long-term regasification capacity from January 2029 through December 2051. Accreditation is open through September 14 and the bidding phase will run from September 17-30.

Security costs rather than freight fundamentals are increasingly determining LNG shipping economics. Owners face "between 6 and 10 million dollars for every single shipment" simply to secure additional insurance cover, said Tom Beney, Senior Vice President of Ocean Freight at StoneX.

Danish shipyard Fayard and CEO Thomas Andersen has been urged to halt all repair and maintenance work on Russia’s ice-class Arc7 LNG carriers, as servicing carried out in 2026 risks extending the vessels’ operational lifespan beyond the EU’s sanctions deadline.

Greece has warned EU sanctions against the transhipment of Russian LNG to third countries could surrender market share to non-European rivals, as EU envoys postponed talks on the bloc’s 21st sanctions against Russia to July 23.

Click to Download

Click to Download

In another escalation of hostilities, mainly caused by Iranian strikes on commercial shipping, including an LNGC, both Iran and the US were claiming control over vessel transits, at the time of writing.

World’s gas consumption is predicted to fall for the third time in seven years, despite LNG suppliers from other regions helping to offset Middle East losses.

The EU paid an estimated €5.96 bill ($6.82 bill) for Yamal Arctic LNG in the first half of this year.

Indonesia’s PT AKR Corporindo (AKRA), the operator of the JIIPE Gresik Special Economic Zone, has established PT Andalanesa Energi Primer, a joint venture company with BW Group to develop an FSRU project.