LNG

Singapore-based BW LNG has placed an order for two new LNG carriers with South Korea’s Hyundai Samho shipyard. Each carrier will have a capacity of 174,000 cubic meters, with delivery targeted for 2028.

ExxonMobil has withdrawn the force majeure clause on its Rovuma LNG project in Mozambique, targeting a financial investment decision (FID) in early 2026. Situated in Cabo Delgado, the project will consist of two Train with a combined liquefaction capacity of 18 mtpa.

Woodside Energy and the East Timor government have agreed to use feedgas from the Greater Sunrise field for a proposed greenfield LNG terminal. Start-up is targeted as early as 2032 to 2035, subject to concept selection and investment decisions.

European wholesale gas prices fell below €30 per MWh on Monday, a level not seen since February 2024, as expectations for a Ukraine peace deal put bearish pressure on prices. The Dec-2025 TTF contract also slipped below this threshold amid hopes that the EU’s proposed ban on Russian pipeline gas could be softened.

The number of LNG vehicles on Chinese roads has almost tripled since 2019 as LNG fuel costs have fallen below those of diesel, offsetting the higher price of LNG-powered trucks. Shell China's VP Mobility, Hu Chuan pointed out “LNG has become a strategic energy pillar for China, thanks to its cost advantages and lower carbon footprint."

Midstream operators in the US have announced fresh investment in gas storage capacity to provide flexibility as the LNG build-out progresses into 2026. Enbrige just took FID on new storage facilities in Texas and Louisiana while Energy Transfer started to build a cavern storage at Bethel.

European countries’ reliance on US LNG imports comes with a risk, TotalEnergies’s CEO Patrick Pouyanne warns. Infrastructure constraints could limit how much LNG the US can actually deliver, while new US supply coming to market in late 2026 is largely uncontracted and could be shut-in if spot prices collapse.

Saudi Aramco has signed 17 preliminary agreements, valued more than $30 billion, during the US-Saudi Investment Forum in Washington. Projects include a potential investment in Lake Charles LNG, along with several equity and offtake agreements with US LNG developers as Aramco wants to secure an additional 20 mtpa in supply.

Exuberance in adding new LNG capacity makes the industry vulnerable to repeating the coal industry’s mistakes in 2010. Yet, consequences of an extended oversupply will be “more severe for the LNG industry as it is highly capital-intensive,” analysts warn.

Chiyoda and McDermott have signed a revised EPC contract for the Trains 2 & 3 of the $10 billion Golden Pass LNG project, concluding months of negotiations over future cost sharing and project responsibilities. Train 1 is in advanced commissioning, while Trains 2 and 3 are now expected to start up between late 2026 and 2027.