LNG

India is reportedly fast-tracking plans to secure uninterrupted gas supplies from the Gulf through a direct deepsea pipeline.

Oslo-based LNGC owner, Awilco LNG has suffered a net loss of $6.4 mill and loss per share of $0.05 in the first quarter of 2026, down from $4.4 mill and of $0.03, respectively, in the previous quarter. 

Australian engineering company, Worley has signed a memorandum of understanding (MoU) with its US counterpart, Baker Hughes, to jointly pursue opportunities in the LNG sector.

The collaboration combines Worley’s engineering, procurement, construction management (EPCM), and engineering, procurement, construction & installation (EPCI) execution capabilities with Baker Hughes’ turbo-machinery, modular liquefaction technologies, and expertise in gas processing and power solutions.

Together, the companies will deliver fully integrated, lower‑carbon LNG infrastructure that meets the surging global demand for reliable, affordable, and sustainable energy, Worley said.

This agreement is intended to support both organisations’ growth plans in a market expected to benefit from significant LNG capacity additions in the coming years, driven by energy security, industrial demand, and de-carbonisation goals.

Doing deals. Iraq and Pakistan have reportedly reached separate agreements with Iran to allow oil and LNG shipments through the Strait of Hormuz.

Oslo-based LNGC owner and operator, Flex LNG has reported vessel operating revenues of $80.5 mill for the first quarter 2026, compared to $87.5 mill for the previous quarter.

US LNG developer, Venture Global has signed two firm agreements with TotalEnergies and Vitol for the purchase of additional US LNG. 

India’s Minister for Petroleum and Natural Gas, Hardeep Singh Puri claimed that the country has 60 days of crude oil, 60 days of LNG, and 45 days of LPG reserves available.

Furthermore, he said that panic buying was on the rise in India, due to fear mongering.

He advised that India’s supply was in check, and no dryout has been reported. Puri mentioned that petrol consumption was up by 6%, due to rumours about supply.

On a social media video, he said: “There is no shortage of any petroleum product in the country... India has 60 days of crude oil, 60 days of LNG, and 45 days of LPG reserves available.

“Amid tensions in West Asia, to ensure uninterrupted supply, India has unprecedentedly increased its daily LPG production (from 35,000 tonnes to 54,000 tonnes),” he posted.

Noting that many countries experienced fluctuations in oil prices and availability, India was not affected at all. “Some people tried their best to engage in hoarding and spread rumours, but under the guidance of PM, Narendra Modi, our efforts ensured that there was no shortage of petrol, diesel, or LPG anywhere in the country,” he added.

Woodside Energy’s proposed Browse to North West Shelf (NWS) project represents a significant opportunity to strengthen Australia’s energy security, support the energy transition and deliver long-term economic benefits for Western Australia and the nation, a report has found. 

Relative newcomer, Houston-based Liberty Bay FLNG is finalising plans for a 1.4 mill tonnes per annum FLNG project in either Mexico or Argentina, aiming for startup in late 2029 or early 2030, according to CEO, Deepak Bawa, speaking with Platts.