Energy price explosion. The World Bank has forecast a 24% surge in energy prices this year, due to the Iran war and the resulting blockade of the Strait of Hormuz, according to its latest Commodity Markets Outlook.
UK energy giant Shell's move to buy one of Canada's largest natural gas producers increases the likelihood that the LNG Canada plant expansion will move ahead, industry sources told newswires.
French utility EDF has postponed a decision to sell part of its Italian subsidiary Edison, due to the Middle East conflict disrupting Qatar LNG supplies imported into Italy, sources have told Reuters.
Argentina’s Camuzzi Gas Inversora has signed a memorandum of understanding (MoU) with commodity trading giant, Vitol regarding its LNG del Plata project.
TotalEnergies Board has approved the first quarter 2026 financial statement.
Rio Grande LNG has requested an extension from the Federal Energy Regulatory Commission (FERC) to complete construction of its LNG export terminal, according to a filing.
In the filing, the company said delays were primarily driven by extended litigation and regulatory proceedings that affected financing and construction timing.
Construction did not begin until July, 2023—nearly four years after the original authorisation—due to uncertainty tied to court remands and rehearing processes, the company claimed.
The project involves five LNG trains, storage tanks and marine loading facilities, with the first train expected to be completed in late 2027 and additional trains coming online in phases thereafter.
More than $10.5 bill has already been invested in the terminal, with roughly 5,000 workers currently active on site, the developers said.
This request does not involve changes to the project’s scope or environmental approvals and applies only to the construction schedule, the filing said.
FERC will review the request under its “good cause” standard, with litigation-related delays cited as a key factor.
A light at the end of the Strait? The first laden LNGC thought to have transited the Strait of Hormuz since the end of February is currently off India, Bloomberg reported, citing ship-tracking data.
Japan's largest power generator and top LNG buyer, JERA has secured adequate LNG inventories through July to cover Middle East supply disruptions caused by the US/Israeli war with Iran, a company executive told Reuters.
Spain's energy company, Repsol and Italy's counterpart, Eni are trying to increase production at Venezuela's Cardon IV gas field to 645 mill cu ft per day, according to its project manager, talking at a Caracas oil conference.
Vietnam is importing more LNG at elevated prices, as the Iran war curbs global supplies.