LNG

Cash strapped US oil and gas developer, New Fortress Energy (NFE) has signed a restructuring support agreement (RSA) with its creditors.

Oslo-based LNGC owner and manager, Flex LNG has won contract extensions for two of its LNGCs.

Flex LNG said it had received notice from the charterer, a super major, of the vessels ‘Flex Resolute’ and ‘Flex Courageous’ of the exercising of the second extension option of 730 days under the original timecharter contracts for the period 1Q27 to 1Q29 for each ship.

The charterer extended the original contracts in 2024, which comprised of three firm years, plus two two-year extension options, by adding a further three firm years for the period 1Q29 to 1Q32.

The Charterer also holds additional extension options of up to seven years per vessel from 2032.

With this announcement, both vessels will be employed on firm contract with the super major until minimum 1Q32, Flex LNG explained.

Following the exercising of these options, the fleet’s firm contract backlog is 53 years and may increase to 74 years if the charterers exercise the extension options.

In addition, the ‘Flex Constellation’ commenced a 15-year timecharter contract this month with a large Asian utility and asset backed LNG trader.

Glenfarne’s $44 bill Alaska LNG project is seeing increased interest from Asian interests, due to the Middle East situation, company executives told Reuters on the sidelines of a Tokyo conference.

The unofficial Ukraine ‘coalition of the willing’ has turned into the ‘coalition of the unwilling’ when it came to helping the US police the Strait of Hormuz.

Global LNG demand is forecast to rise by 54-68% by 2040 and 45-85% by 2050 from 422 mill tonnes in 2025, boosted by growing Asian appetite, UK energy giant Shell said in its 2026 Outlook.

TotalEnergies has announced the start of production from the Quiluma field, in which it holds an 11.8% interest alongside partners, Azule Energy (37.4%, operator), Cabinda Gulf Oil Co (31%) and Sonangol E&P (19.8%).

Thailand’s Energy Minister, Auttapol Rerkpiboon is negotiating with Cheniere Energy to increase LNG deliveries under an existing contract.

Ukraine’s state-owned energy utility, Naftogaz has won a legal battle against Russia’s Gazprom.

The Swiss Federal Supreme Court rejected the Russian gas company’s final appeal against a $1.4 bill arbitration award.

This ruling confirmed a June, 2025 decision that found Gazprom liable for unpaid natural gas transport services and interest accrued.

The court dismissed Gazprom’s attempt to deflect the award, effectively exhausting all legal avenues for the Russian state-controlled company to avoid the debt.

Gazprom was also ordered to pay Swiss Francs200,000 in court fees and Francs250,000 francs in legal costs to Naftogaz.

This dispute derived from a 2019 transit agreement. Following Russia’s 2022 invasion of Ukraine, Naftogaz was forced to halt gas transits at the Sokhranivka entry point, due to hostilities but continued to provide its contracted gas transport services through the Sudzha point.

Gazprom’s subsequent refusal to pay the full contracted rates led to the International Chamber of Commerce arbitration in Switzerland.

As we enter the third week of conflict in the Middle East, there has been no let up in drone and missile strikes across the region over the weekend.

Major US LNG exporter, Venture Global has taken a final investment decision (FID) and closed a $8.6 bill project financing for the second phase of the company’s third project, CP2 LNG (CP2).