LNG

US energy technology company, Baker Hughes has won three contracts to enhance Cheniere’s Sabine Pass LNG facility in Cameron Parish, Louisiana.

US-based Yokogawa Corp has been awarded the role of main automation contractor (MAC) for the Louisiana-based Commonwealth LNG project.

French engineering and design company, GTT has recently received five orders for LNGC tank designs, plus one FLNG tank design contract.

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Shipments of US LNG to Asia have surged, exceeding 4 million tons per month in late April, May and early June, as buyers scramble for non-Middle East supplies. Shell forecasts global LNG demand could rise by 65 percent from 2025-levels to reach nearly 700 mtpa by 2050.

Contract flexibility, strong near-term demand and reliable project execution are bolstering credit profiles of US and Canadian LNG producers through 2027, Fitch Ratings said. Longer-term credit upside could fade, however, as competition intensifies, build costs rise and demand visibility weakens, leaving producers reliant on tighter capital discipline and low-cost expansions, analysts warn.

The decade of structurally cheap gas from the United States is drawing to a close, with Henry Hub prices forecast to rise towards $5 per MMBtu by 2035 from below $3 per MMBtu, as LNG demand growth and higher domestic gas-burn tightens balances.

Golden Pass LNG, the QatarEnergy and ExxonMobil joint venture, has received U.S. regulatory approval to begin preliminary commissioning activities on Train 2 — just two days after the company filed its request.

Henry Hub cash and bal-summer price are set to soften as additional Texas-to-Louisiana pipeline capacity boosts LNG feedgas flows towards the US Gulf Coast, easing oversupply in Texas.

LNG Canada passed a year of exports with feedgas near Phase 1 capacity. Across 106 loadings since the first sailing from LNG Canada since last June, South Korea took the largest single share, roughly one cargo in three, ahead of Japan at a quarter and China at just over a fifth.