SK-led consortium breaks ground on $2.3bn LNG-to-power project
A consortium led by South Korea’s SK Innovation, Vietnam’s PV Power, and Japan’s NASU has broken ground on a $2.3 billion LNG-to-power project in Vietnam. The Quynh Lap project will have a power generation capacity of 1,500 MW, fuelled by imported LNG.
Karpowership to deploy FSRU in Yucatan Peninsula
Turkish floating power producer Karpowership will deploy a 250-MW gas-fired powership alongside a floating storage and regasification unit (FSRU) in Mexico’s Yucatán Peninsula under a three-year agreement with grid operator CENACE. Both vessels are expected to arrive in the coming week, due for immediate commissioning.
Hormuz LNG transit risk boosts chances for Russia-China pipeline
Persistent disruptions to LNG flows through the Strait of Hormuz bolster Russia’s chances of getting the Power of Siberia II pipeline built. A 2032 startup would give Gazprom a new major outlet, as the EU’s 2027 ban on Russian LNG reshapes Moscow’s long-term export strategy.
Ichthys LNG strike risk leaves Japan most exposed
Strike threats at Inpex-operated Ichthys LNG terminal from May 27 leave Japan most vulnerable, given its heavy reliance on contracted Australian supply. Around 70% of the LNG from the 9.3 mtpa Ichthys facility in Darwin is sold to Japanese offtakers, notably JERA, Kansai Electric, Kyushu Electric, Osaka Gas, Toho Gas, and Tokyo Gas.
Technip advances Commonwealth LNG towards 2029 first cargo
Technip Energies’ latest full notice to proceed on Caturus’ 9.5 mtpa Commonwealth LNG export terminal marks another milestone for the U.S. Gulf Coast LNG buildout, even if the terminal is not expected to ship its first cargo before 2029.
Glenfarne, ConocoPhillips advance Alaska LNG Phase 1 FID
Glenfarne Group has signed a preliminary 30-year gas supply pact with ConocoPhillips, securing sufficient volumes for Phase 1 financial close on the Alaska LNG project.
Woodside may veto Inpex’s Browse deal over NSW LNG threat
Woodside is considering using its pre-emptive rights to veto Inpex’s farm-in to the Browse joint venture, as this move threatens to undermine feedgas supply for its North-West Shelf LNG export terminal. The deal is seen as a catalyst to shift Browse gas production away from the NWS LNG hub towards Inpex’s Ichthys LNG train in Darwin.
Iraq hit by Iranian gas squeeze as Excelerate LNG deal advances
Iraq’s power sector remains vulnerable to fluctuations in Iranian gas supplies, prompting Baghdad to press ahead with plans to import LNG through the country’s first floating terminal, developed by Excelerate Energy.
China seeks more US oil, may lift tariff on LNG
China wants to buy more American oil and may lift its 25% tariff on US LNG imports as “energy is the one thing they really need,” President Donald Trump told Fox News. Beijing could unilaterally approve the resumption of US LNG imports, but the country has proven resilient to Qatari supply disruptions in the third month of the Middle East conflict.
Caturus takes FID on Commonwealth LNG
Caturus has taken a final investment decision (FID) on its 9.5 mtpa Commonwealth LNG export project in Louisiana, supported by $9.75 billion in total financing and several long-term offtake agreements. Construction just begun, with first LNG targeted in late 2029 and full operations by 2030.
