LNG

Venture Global and Edison have settled their pending arbitration concerning the Calcasieu Pass project.

Completion of the settlement is expected by the end of the second quarter of this year, at which point the arbitration will be terminated.

The agreement fully resolves the arbitration in its entirety. As part of the settlement, Edison and Venture Global have also agreed to the delivery to Europe of additional cargoes beyond those envisaged under the long-term contract, to support gas supplies primarily to the Italian market.

The first delivery is scheduled for May, 2026 to the Adriatic LNG terminal.

Venture Global said that the agreement represented a significant step in strengthening commercial co-operation between the parties and it established a foundation for further future deliveries in the context of the disruption caused by ongoing geopolitical events.

South Korea’s Foreign Minister, Cho Hyun, in a telephone conversation with Oman's Foreign Minister, Badr Albusaidi, asked Oman to supply LNG and crude oil.

The global marine insurance market is to maintain the availability of cargo, hull, liability and offshore energy cover for vessels trading in the Middle East region, despite increasing geopolitical tensions, the International Union of Marine Insurance (IUMI) has confirmed.

Severe weather linked to ‘Cyclone Narelle’ has disrupted major gas infrastructure in Western Australia.

Thirty-five LNG vessels left US ports during the week ending 25^th March, the same number as recorded in the previous week.

Their LNG-carrying capacity was 134 bill cu ft, up less than 1 bill cu ft from the week before, according to data supplied to the US Energy Information Administration (EIA) by Bloomberg Finance.

Nine vessels sailed from Sabine Pass, seven from Plaquemines, five each from Corpus Christi and Freeport, four from Cameron, three from Calcasieu Pass, and two from Cove Point.

Ultimatum shift. President Trump has announced an extension of deadline to attack Iran’s energy infrastructure for another 10 days until 6th April, claiming that the request came from Tehran and that talks were going “very well”. 

Major FLNG player, Golar LNG’s Board has initiated a process to evaluate alternative directions for the company.

Japanese oil and gas operator, INPEX has ramped up its Australian gas interests, which could eventually lead to a third train being constructed at Ichthys LNG.

Electrical engineering group, ABB has upgraded the propulsion drives in nine CoolCo LNGCs.

Threats and counter threats. Iran has promised to unleash Houthi militia on a second crucial trade route leading to the Suez Canal and devastate the global economy if the US launches a ground invasion.