LNG

Qatar may extend its force majeure on gas supplies beyond mid-June, Italian importer Edison has said, adding that the gap could be plugged by US supplies, replacing Russian gas.

European LNG buyers, including Germany's Uniper, are exploring the possibility of purchasing supplies from Canada's Pacific coast and shipping it through the Panama Canal.

Capital Clean Energy Carriers Corp is to sell the 174,000 cu m, 2023-built LNGC ‘Amore Mio I’ to a subsidiary of a joint venture company owned 51% by CCEC and 49% by a company affiliated with energy trader, BGN Group in the first quarter of 2027 for $230 mill.

Belgian gas carrier player, EXMAR has started the conversion work needed for a new FSRU to be moored at north Holland’s EemsEnergyTerminal, which is a subsidiary of Gasunie and Vopak.

German energy developer, SEFE has secured a €2 bill five-year revolving credit facility.

This will replace state-backed KfW liquidity support.

Strong market confidence resulted in the offer being 2.2 times oversubscribed by international banks.

SEFE also said that the loan marks the company’s full independence and was a key step towards its privatisation.

BNP Paribas and UniCredit Bank acted as co-ordinators, while Bayerische Landesbank (BayernLB) served as facility agent.

More meetings planned. Oil prices were mixed early this morning with Brent futures up and US futures down over crude supply uncertainty from the key Middle East producing region, as the Strait of Hormuz remained primarily shut.

Following a meeting to discuss their response to the energy and economic impact of the Middle East war, the Heads of the International Energy Agency (IEA), International Monetary Fund (IMF), and World Bank Group issued the following statement:

Declining North Sea gas production has raised concerns over the UK’s future energy resilience.

Kuwait's Central Agency for Public Tenders is to issue a tender for the construction of an LNG reliquefaction unit at Kuwait Integrated Petroleum Industries Co’s (KIPIC) Al-Zour refinery.

This project aims to enhance the operational efficiency and reliability of the country's main LNG import facility, Kuwait’s Al-Anba newspaper said, citing a KIPIC report.

The project involves engineering, procurement, and construction (EPC) work, along with pre-commissioning, commissioning, and performance testing services, to add a unit to reliquefy boil-off gas (BOG).

The list of pre-qualified international consortia and companies participating in the tender included Fluor, GS Engineering & Construction, Tecnicas Reunidas, Larsen & Toubro, Hyundai Engineering, CTCI Corporation, Daewoo Engineering & Construction, Hyundai Engineering & Construction, Saipem, Samsung Engineering, China’s Sinopec Engineering, JGC Holdings, KBR (Kellogg Brown & Root), China National Petroleum Corp and Technip Italia.

Despite the US blockading Iranian ports and the Strait of Hormuz, Asian stocks traded higher tracking US Wall Street gains and the oil price fell early this morning on the news of a possible second round of talks between the US and Iran.