LNG

Argentina's Vaca Muerta shale play has achieved significant first-quarter gains, with oil output rising 26% and gas production up 16% yoy, underpinning the Southern Energy LNG project. Financial close on MK II – one of two FLNG vessels supplied by Golar – is slated for Q3-2025.

Sempra Infrastructure has resumed construction on the plant’s 13 mtpa Phase 1 foundations, after works were halted a fortnight ago due to a scaffolding collapse. Still, targeted FID on Porth Arthur LNG Phase 2 in the third quarter of 2025 remains in place.

JERA global chair & CEO Yukio Kani has pointed out the fragility of Japan’s LNG import system at an industry event in Tokyo Bay, where inventory covers just 10 days. “Any disruption could be critical, diversification is not optional,” he said, adding JERA secured 5.5 million tons of US LNG to meet post-2030 demand.

PacificLight Power (PLP), affiliate of Meralco Power Gen, has completed and commissioned an LNG-fuelled power plant (100 MW) on Jurong Island, Singapore. The fast start unit, powered by Siemens turbine, will provide ancillary services and supplement power supply from PLP’s existing 830 MW combined-cycle unit.

Federal Energy Regulatory Commission’s (FERC) final order for Commonwealth LNG is affirming the authorisation of its 9.5 mpta LNG export terminal to be built along Calcasieu Ship Channel near Cameron, Louisiana. With FERC’s final order in place the $11 billion project can now go ahead.

PetroChina’s trading division strives to enhance the flexibility of its LNG portfolio by adding US LNG, which comes without destination clauses. This offers room for re-sale, compared to deliveries under long-term countries from countries like Qatar.

Developers plan to add 18.7 gigawatts of combined-cycle capacity to the US power grid by 2028, with 4.3 GW under construction. In contrast, an 98 MW unit at Plaquemines LNG terminal was the only gas power unit to come online last year.

Bangladesh’s state-owned Rupantarita Prakritik Gas Company Ltd (RPGCL) has launched a series of tenders to buy two spot LNG cargoes for delivery on July 15-16 and July 17-18, a company official told local news. Each spot cargo is understood to carry about 3.36 mmBtu of LNG for delivery at Moheshkhali Island FSRU in the Bay of Bengal.

Fitch Ratings has revising down EBITDA margins for global corporates to below 18%, down 0.5pp from forecasts in early 2025. For the oil & gas sector, Fitch changed its outlook from ‘neutral’ to ‘deteriorating’ after the rating agency already cut its global GDP growth projections in April due to the uncertainty surrounding US tariffs.

Gaztransport & Technigaz (GTT) of France has been hired by HD Korea Shipbuilding & Offshore Engineering (HD KSOE) to design the tank for a new LNG carrier, built on behalf of Purus. Hyundai Samho Heavy Industries (HSHI) is assembling the vessel, due for delivery in Q4-2027.