Eni strives to launch Petronas gas JV in 2026
Eni seeks to launch its gas joint venture with Petronas in 2026 to develop gas fields in Malaysia and Indonesia with a view to becoming a regional LNG player. Petronas brings the Bintulu LNG complex and FLNG assets in Malaysia, while Eni seeks to channel upstream gas production into its JV partner’s expanding LNG supply chains.
Bullish outlook for prompt Henry Hub price
Technical factors support upward momentum for Henry Hub gas prices, especially for the winter 2025/26 strip. Energy Aspects’ quant analysts team sees open interest (OI) erosion in the near-term contracts which creates opportunity for new risk to be added along the curve.
OTL offers LNG slots for November and multi-year allocation
OLT Offshore LNG Toscana has made available regas capacity for November annual and multi-year allocation – without expression of interest – from the Gas Year 2026/2027 to Gas Year 2043/2044. The auctions will be held from November 26 to December 3 through GME’s platform.
YPF and Eni edge closer to FID on Argentina LNG project
Argentina’s state oil and gas company YPF and the Italian energy giant Eni have signed the final technical project description (FTPD) for a 12 mtpa phase of the integrated Argentina LNG project – the final step before financial close. The floating LNG terminal is designated to export gas from the vast Vaca Muerta shale.
ExxonMobil gets greenlight for $5bn LNG-to-power plant in Vietnam
ExxonMobil has been authorised to develop a $5.09 billion LNG terminal and adjacent gas-fuelled power plant in the Vietnamese port city of Hai Phong. The LNG import terminal is approved with a capacity of 6 mtpa, enough to fuel 2.25 GW of power generation capacity that is scheduled to start operations by 2026/27.
BP wins arbitration against Venture Global, seeks $1bn in damages
BP has secured an arbitration victory against Venture Global which was found in breach over its failure to deliver contracted cargoes from the Calcasieu Pass facility. Seeking over $1 billion in damages, BP stressed it will "vigorously defend" its position in subsequent proceedings.
LNG puts an end to gas-burn growth in the US
2025 marked an end to a 13-quarter run of gas generation growth in the United States, where rising feedgas demand for LNG exports pushed up Henry Hub gas prices and made utilities switch to coal. Gas-burn fell by 34 TWh or -3.9%, compared with a 44 TWh or 5.4% rise last year, lowering the share of gas in the US power mix to 37.9% from over 40%, Ember think tank finds.
Hanwha completes LNG ship-to-ship transfer during sea trials
South Korean shipbuilder Hanwha Ocean has completed the world’s first ship-to-ship transfer of LNG between two vessels while both were on sea trials off Geoje Island. This operational breakthrough involved the new-built Maran Gas Syros and GasLog’s Woodside Jirrubakura.
Favourable arbitrage makes more US LNG head to Europe
US LNG exports are forecast to rise to 2.43 million metric tons per week heading into late 2025 and early 2026, driven by demand recovery and below-average gas storage in Europe. American shippers exported a record 9.4 million metric tons of LNG in September, with two-thirds of the cargoes sold to Europe as the arbitrage window stays open.
Turbine shortages delay LNG-to-power projects in Southeast Asia
Lengthy equipment-order backlogs delay and inflate costs of LNG-fuelled power projects in Vietnam and the Philippines. Some turbine makers advise developers to plan 7-8 years ahead for turbine procurement.
