LNG

Tanzania Petroleum Development Corp, TAQA affiliate Rosetta Energy and the infrastructure investor Africa50 have signed a binding gas sales agreement (GSA) for East Africa LNG, Tanzania’s first LNG export terminal.

China’s Hudong-Zhonghua Shipbuilding Group is expanding its production facilities at Changxing Island in Shanghai to address its growing backlog of LNG carriers and other large vessels. The shipyard’s LNGC orderbook increased to nearly 60 ships by mid-2026, up from 57 at the start of the year.

Atlantic freight rates for spot LNG cargoes have fallen to a seasonal low of $20,000 per day, down $31 over the last fortnight, opening the arbitrage window for US LNG heading to Europe rather than Asia. Several LNG charterers have fixed vessels below round-trip economics due to a lack of fresh enquiry for Atlantic cargoes from Pacific Basin buyers, while shipowners are seen to be reluctant to ballast vessels westward.

High-risk operators of LNG carriers are seen exploiting a shortage of shipowners willing to transit Hormuz. At least four very large gas carriers with a history of carrying Iranian LPG have loaded cargoes in the UAE and Qatar in recent weeks, according to Lloyd’s Lists findings with analysts noting that before the conflicts, it was rare for vessels linked to sanctioned trades to re-enter mainstream markets.

Venture Global is well positioned to capture most incremental demand arising from Qatari supply constraints, given the rapid build-out of its US liquefaction capacity, RBC Capital Markets said in an investor note.

Kino Aski, led by the Atikamekw Nation, has partnered with energy developer Marinvest Energy Canada to develop a 15 mtpa LNG project in Quebec, targeting European buyers. The project is still in the development phase, with technical studies, environmental assessments and consultations underway.

The September Henry Hub contract settled 8.6 cents higher at $2.759 per million British thermal units on Wednesday, according to CME data. Analysts anticipate further price rises as weather forecasts turned hotter across the southern and western part of the US. Eli Rubin, senior energy analyst at EBW Analytics Group, said peak demand on the Electric Reliability Council of Texas (ERCOT) system could set a new record this week. The grid operator forecast demand would exceed its 91.089-gigawatt (GW) record on each day from August 20 through August 24, with the potential to rise by almost 1 GW above the previous peak later in the period. Houston temperatures are expected to average about 100 degrees Fahrenheit (38 degrees Celsius) this entire week through August 23, roughly 5 F above normal, according to AccuWeather data.

China’s push to build out its coal-to-gas (CTG) industry will curb reliance on imported LNG. Targeted to reach 28 Bcm/year of synthetic gas production by 2030, Beijing’s CTG program equates to roughly 20 mtpa of pipeline‑quality gas that can substitute for imported LNG.

CNOOC's Binhai regasification terminal in Jiangsu has resumed commercial LNG reloads and received its 100th LNG carrier, underscoring its role in the Chinese gas trading market.

With risks to ship LNG cargoes through the Strait of Hormuz likely to persist into the upcoming winter, Argus’ TTF front-month price assessment was last seen not far off €64/MWh, its highest level since January 2023.