LNG

Abu Dhabi National Oil Company (ADNOC) has agreed to supply Thailand’s Gulf Group with 2 mtpa of LNG from 2027, in a deal aimed to captialise on structurally rising gas demand in Southeast Asia.

Plans to develop several LNG-fuelled power stations in Vietnam are facing delay, mostly due to affordability issues. Developers are also struggling with power-purchase agreement negotiations, land-clearance procedures and the high and volatile cost of imported LNG. Of 18 LNG power projects under government monitoring, only the Hiep Phuoc project is currently considered on track, while just two have begun construction.

Turkey’s state pipeline operator BOTAS has launched a tender for a 940-day charter of one LNG carrier. Deadline for submitting bids is October 15, at 15:00 local times.

Shell has awarded OceanMight an engineering, procurement and construction (EPC) contract for structures linked to gas field off Sarawak with a view to sourcing new feedgas for Malaysia’s existing processing and LNG infrastructure.

Baker Hughes has teamed up with Venezuela’s state oil company PDVSA, engineering firm Lindsayca and LNG developer Fulcrum LNG to revitalise and expand the country’s natural gas infrastructure and set up a pathway to LNG exports.

British gas company Centrica has tentatively agreed to buy 1 mtpa of LNG from Canada’s Ksi Lisims LNG export project, strengthening the developer’s progress toward securing firm offtake and taking a final investment decision. The non-binding Heads of Agreement (HoA) is for 20 years of supply on a free-on-board (FOB) basis.

US dry natural gas production set an all-time high in July, led by a record surge in the Permian Basin, as higher global gas and LNG prices spurred additional output to offset constrained Qatari deliveries, according to the Energy Information Administration’s latest Natural Gas Monthly. Gross withdrawals in Texas and New Mexico increased by a combined 1.7 Bcf/d, or 3.2% from June to July, pushing total US gross withdrawals to a record 137 Bcf/d and lifting both marketed and dry production to new peaks. EIA analysts expect production will keep rising since flexible US LNG exports fill much of the gap left by constrained Qatari deliveries as long as shipping constraints through the Strait of Hormuz persist.

Singapore-based Seatrium has secured its ninth floating storage and regasification unit (FSRU) conversion contract from Turkey’s Karpowership, awarding the LNGT Akdeniz project following the sail-away of LNGT Türkiye – the seventh and final vessel under the pair’s seven-FSRU programme.

Glenfarne, lead developer of the Alaska LNG project, claims that liquefying Alaska’s North Slope gas and shipping it to Asia would be at least 65% cheaper than shipping LNG from the US Gulf Coast. Brushing aside criticism over the project’s high cost, Glenfarne told Reuters that the Alaska LNG project itself entails some $1.4 billion per mtpa in delivery costs.