LNG

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.

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.

Russia's oil and gas revenues from taxes are likely to increase next month, due to higher oil prices boosted by the Iran war.

State-owned Oil India has discovered oil and gas in Libya, according to an Indian stock exchange filing.

The discovery was made in Area 95/96 block, located in the Ghadames Basin in the southwestern region of the country. The area is considered highly prospective for hydrocarbons.

Oil India holds a 25% stake in the block, which covers an area of around 6,630 sq km, as part of an Indian consortium that also includes the Indian Oil Corp (IOCL).

Oil India said the find could enhance the value of its overseas assets and potentially open new revenue streams in the future, while further strengthening its global exploration footprint.

Paris-based International Energy Agency’s (IEA) latest quarterly report showed how the ongoing supply shock and infrastructure damage from the Middle East conflict are increasing price volatility and pushing back the easing of global gas balances.

Canadian pipeline operator, Enbridge has confirmed that the Canadian Government had approved the Sunrise expansion programme, a $4 bill natural gas expansion of the company’s British Columbia Westcoast pipeline system.