UAE’s exit from OPEC to reshape oil-linked LNG pricing
The United Arab Emirates’ decision to leave OPEC is ushering in a more volatile oil market, with implications for LNG pricing – particularly in Asia, where many contracts remain indexed to crude benchmarks.
EU power price held stable at €90/MWh despite LNG crunch
Though the Middle East conflict disrupted 80 mtpa of LNG exports, fuel diversification helped stabilise gas and power prices across Europe’s five major markets at over €90/MWh in March, while month-ahead gas prices peaked at $19/MMBtu in April.
BP doubles profit in the first quarter
BP posted strong first quarter 2026 results, with higher Gulf of Mexico output offsetting Middle East disruptions and a North Sea divestment. Adjusted net profit hit $3.2 billion, more than double the nearly $1.4 billion a year earlier, the London-based company announced today.
LNGC orders rebound, with 35 new ships contracted in Q1
Orders for LNG carriers are rebounding with Korean and Chinese shipbuilders contracting 35 new LNGC builds in the first quarter of 2026, compared with 37 over the entire last year. Commissioning of Atlantic Basin capacity spurs tanker demand, offsetting fears that Middle East supply disruption may curb shipping demand.
EU ban on Russian LNG takes effect
The first phase of the EU’s ban on Russian LNG has taken effect this weekend, removing an initial slice of the 20.3 bcm imported in 2025 at a time when European buyers are already competing for replacement cargoes for lost Qatari supply.
First Golden Pass LNG cargo heads to Zeebrugge terminal
The first LNG cargo from Golden Pass, Texas, is on route to Belgium’s Zeebrugge terminal which the carrier Al Qa’aiyyah is signalling as its destination. Loaded by QatarEnergy, as part of its Golden Pass equity quota, the cargo has likely been purchased by Eni.
Argentine cargo to arrive at Escobar FSRU in early May
Energía Argentina has awarded a spot LNG cargo to Spain’s Naturgy at tender, with the shipment due to arrive at the Escobar floating storage and regasification unit (FSRU) in the second week of May.
US regional gas prices near zero despite Middle East risks
Regional US gas prices in the Southwest and Southern California are trading near zero, even as LNG export demand hits maximum capacity. Domestic gas output exceeds 105 Bcf/d, flooding storage and capping upside, while LNG feedgas demand increased to 20.3 Bcf/d amid soaring US LNG export driven by panic buying.
AG&P to take full control of Vietnam’s Cai Mep LNG terminal
AG&P is raising its stake in Vietnam’s Cai Mep LNG terminal to 100%, taking full control of the 3 mtpa terminal as Hai Linh Company divests its interest.
Pakistan tenders for spot LNG for first time in nearly 3 years
Pakistan LNG (PLL) has issued a spot LNG tender for the first time since late 2023, seeking three cargoes for delivery at Port Qasim. Bids close on April 24, 2026.
