ADNOC sets up combined LNG sales and trading platform
Abu Dhabi National Oil Company (ADNOC) has launched a consolidated LNG marketing, sales and trading platform, targeting 47 mtpa of marketable LNG by 2035, including future volumes from the Ruwais LNG project.
LNG Canada at one year: equity resolves offtake, not a channel
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.
XRG expands Rio Grande stake
XRG, the investment arm of ADNOC, has acquired an additional stake in Trains 4 and 5 at the Rio Grande LNG at the Port of Brownsville, Texas. With the latest deal, XRG bought an additional 7.6% stake in both trains from a Global Infrastructure Partners (GIP) vehicle owned by BlackRock, building on its initial purchase of an indirect 11.7% interest in Trains 1, 2 and 3, also through GIP.
India lifts emergency gas curbs as Hormuz LNG traffic resumes
India has lifted an order imposing restrictions on gas suppliers as LNG deliveries from the Middle East resume. The Ministry of Petroleum and Natural Gas on Saturday withdrew provisions which had mandated all imported LNG and domestically produced gas to be sold to a list of priority customers.
Bangladesh pushes to secure 80% of Qatari contract volumes
Petrobangla is scrambling for spot LNG after QatarEnergy extended its force majeure until July 16, although the Bangladeshi state company keeps negotiating to receive at least 80% of its contracted LNG cargoes from Qatar.
LNG tops alternative fuel choices for newbuild ships
Alternative-fuelled ship orders declined in the first half this year, but LNG remained the dominant choice among shipowners, accounting for 73 of 137 vessels ordered, according to DNV, mainly for containerships and car carriers.
Canada to export Alberta oil via BC, accelerate LNG projects
Canada has moved closer to unlocking a new Pacific Coast crude outlet from Alberta while fast-tracking British Columbia LNG projects with the aim of tripping LNG production and export beyond 2030.
Newbuilt LNGC for Petronas
Malaysia’s Petronas has taken delivery of the newbuilt LNG carrier Puteri Kedah, following delivery of a the similar-sized Puteri Johor LNGC on late May. Both vessels are owned by the joint venture companies of ‘K’ LINE.
Eni, Mercuria form global trading JV to boost US LNG marketing
Italian oil and gas major Eni and the Swiss-based commodity trading house Mercuria have agreed to form a joint venture to oversee trading activities of oil, LNG, LPG and associated logistics and infrastructure rights. Operations are due to begin in 2027.
US gas era shifts as Henry Hub seen at $5/MMBtu by 2035
The decade of structurally cheap US gas 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 tightens domestic balances, Wood Mackenzie said.
