LNG

Fracking activity is ramping up across the U.S. as producers cater to booming LNG export demand and seek to pre-empt service price spikes. Early movers can reap superior margins. For an average Permian Basin well, a 10% rise in drilling and completion costs for a new well lifts the breakeven price by 7.5% and cuts the lifetime internal rate of return by 40% compared to a well drilled prior to the cost escalation, Rystad Energy finds.

Apollo Global Management, Blackstone and KKR are vying to acquire a substantial for a stake in Shell’s LNG Canada project, in a deal that could be valued at $10–$15 billion. The three asset management firms are the remaining bidder in an auction, run by Shell.

UK energy giant Shell's move to buy one of Canada's largest natural gas producers increases the likelihood that the LNG Canada plant expansion will move ahead. Shell has announced its intention to buy Calgary-based ARC Resources in a deal valued at $22 billion, accounting for the Canadian company's debt.

Shipments from Canada’s LNG Canada plant surpassed 1 million metric tons in April, marking a new monthly record, according to LSEG data, as the $40 billion facility is ramping toward its full design capacity. All cargoes set sail to Asia, mainly South Korea.

Energía Argentina has awarded a spot LNG cargo to Spain’s Naturgy at tender, with the shipment due to arrive at the Escobar floating storage and regasification unit (FSRU) in the second week of May.

Sempra's Energía Costa Azul (ECA) LNG terminal has received its first feedgas with a view to start LNG production this spring. The Pacific-facing terminal is targeting Asian markets, with offtake by TotalEnergies and Mitsui supporting Phase 1 project economics.

Argentina’s Camuzzi Gas Inversora has signed a memorandum of understanding (MoU) with commodity trading giant, Vitol regarding its LNG del Plata project.

• March-April exports amounted to 21.28MMt • Up by 1.11MMt (6pct) from January-February period • Shipments up by 2.91MMt (16pct) over period year-on-year • Comb. US LNG capacity utilisation at 99pct for the report period 

Period between 1 March 2026 and 30 April 2026, inclusively

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