LNG

Despite President Trump’s assertion that talks with Iran have gone well, which were subsequently denied by Tehran, the LNG production stoppage in the Gulf region will likely last for some time.

Aided by more LNGC transits, due to the Middle East conflict, the Panama Canal is operating at full capacity, handling between 36 and 38 ships per day, instead of the 34 forecast earlier.

Several LNG importing countries affected by the halting of Qatari and UAE exports, are making other plans to shore up their energy supply.

In an effort to ease energy prices, US President Trump has granted a 60-day waiver of the Jones Act.

ADNOC subsidiary, ADNOC Gas has made temporary adjustments to its LNG production and export-traded liquids in response to ongoing shipping disruption in the Strait of Hormuz.

Global LNG exports fell to a six-month low this month, negating recent US and elsewhere supply additions, as the conflict in the Middle East halted shipments.

Cash strapped US oil and gas developer, New Fortress Energy (NFE) has signed a restructuring support agreement (RSA) with its creditors.

Japan’s major LNG player, JERA has signed a throughput agreement with Dunkerque LNG to secure regasification capacity of 2 bill cu m per year, equivalent to about 1.5 mill tonnes of LNG annually, at the French terminal.

Poland’s Gaz-System has introduced a regasification open season procedure for a possible second FSRU terminal at Gdańsk.

US LNG plant developer, Venture Global has signed a new binding agreement with commodity trader Vitol for the purchase of about 1.5 mill tonnes per annum of US LNG for five years commencing this year.