LNG

Italy’s Fincantieri has said it will maintain a “warm” production line for LNG bunker barges and specialized commercial vessels, signalling continued readiness to meet demand in alternative marine fuels. The Trieste-headquartered company is also targeting US naval shipbuilding as part of its strategic expansion. 

Venture Global and Greece’s Atlantic-SEE LNG Trade have doubled the volume under their long-term supply agreement, raising the commitment to at least 1 mtpa of US LNG starting in 2030 for a two-decade tenure.

Australian energy giant Woodside has exercised its pre-emptive right to buy PetroChina’s 10.67% stake in the Browse gas field, blocking a deal with Japan’s Inpex. Browse is meant to underpin a development liking to Woodside’s North West Shelf LNG terminal, whose current gas resources are depleting.

D.Trading, the trading arm of Ukraine’s DTEK Group, has completed a delivery of U.S.-origin LNG to the Netherland’s Gate terminal in Rotterdam. Though volumes and origin of the cargo was not disclosed, the shipment underlines D.Trading growing involvement in the Atlantic Basin.

Three engines are pulling LNG demand higher, and none of them depends on how the Middle East conflict resolves. The first is North American power.

Five companies – Equinor, Gasum, Ignitis, Latvenergo and Naftogaz – have booked more than 20 TWh, or around 71% of the offered regasification capacity at the Klaipėda LNG terminal in Lithuania. About 12 TWh were allocated until 2040 ad the remaining 8 TWh through 2044, marking a decisive step in securing long-term gas supply for the Baltic region. Klaipėda LNG, also called FSRU Independence, has a regas capacity of 3.75 bcm/y equalling about 3.12 mtpa.

Deutsche Energy Terminal (DET) is preparing to commission its floating storage and regasification unit (FSRU) in Stade in September to facilitate LNG imports for the peak winter season.

Caturus, a Houston-based independent gas company, has secured $9.75 billion in project finance-style debt for its Commonwealth LNG, with total equity and debt commitments reaching $21.25 billion.

Cash-rich incumbents are leading the next wave of brownfield US LNG expansions, as the Iran war has escalated project costs, disproportionately disadvantaging greenfield projects – such as Argent LNG – that lack existing infrastructure.

Abu Dhabi National Oil Company’s (ADNOC) is exploring investments in Canada’s upstream and LNG sectors through its affiliate XRG, upstream CEO Musabbeh Al Kaabi said at the at the Global Energy Show in Calgary this week.