LNG

The number of LNGCs sailing from US export terminals this week rose to 39, up four.

Their LNG carrying capacity was 148 bill cu ft, up 13 bill from the previous week.

Nine vessels departed from Sabine Pass, eight from Plaquemines, six each from Corpus Christi and Freeport, four from Cameron, and three each from Calcasieu Pass and Cove Point, according to data supplied to the US Energy Information Administration (EIA) by Bloomberg Finance.

Some 100% of all Yamal LNG February exports went to the EU, totalling 1,543,347 tonnes, the German NGO Urgewald has claimed.

According to South Korean media, cautious optimism is growing that its shipbuilding industry could benefit from rising tensions in the Middle East.

This stems mainly from expectations of stronger demand for vessels to transport LNG from the US, after Qatar suspended operations at its Ras Laffan plant on Monday.

“Korean shipbuilders can take advantage of the Strait of Hormuz blockade and the suspended LNG exports from Qatar,” DS Investment & Securities analyst, Kim Dae-seong told the Korea Times.

He predicted that Asian and European countries would turn to the US as an alternative source of LNG imports, given the mounting uncertainty over Middle Eastern supply chains.

“The recent crisis will likely lead to purchase agreements and final investment decisions on US LNG projects under the phase of front-end engineering designs,” Kim said. “Unlike Chinese shipyards relying heavily on orders from China and the Middle East, (South) Korean shipyards can benefit from an increase in shipbuilding orders for US projects.”

Michael Sabel, CEO of Venture Global LNG told investors that the company has the world’s largest amount of uncontracted LNG cargoes and is ready to help stabilise markets.

"With the largest available incremental LNG capacity in the world, the United States will play a critical role during this historic disruption in the market," he said during the company’s earnings call.

Yang Jong-seo, a senior researcher at the Korea Eximbank Overseas Economic Research Institute, said future orders for LNGCs will depend on how much the US can ramp up its LNG production.

He added that the key factor is whether the conflict continues into the Autumn, when heating demand typically pushes up global LNG consumption.

The US navy could soon begin escorting vessels through the Strait of Hormuz, President Trump has said.

A New York state judge has rejected UK oil major Shell’s request to throw out an arbitration award that favoured Venture Global in a dispute over the US LNG plant developer’s alleged improper sale of LNG.

A Russian LNGC, which is sanctioned by both the US and the UK, has caught fire while transiting the Mediterranean, following a reported explosion, according to Reuters.

The vessel, identified as the ‘Arctic Metagaz’, was damaged while sailing between Malta and Libya.

Shipping and maritime security sources told Reuters that the tanker was ablaze, though no official distress signal had been received.

According to MarineTraffic ship tracking data, the vessel last reported its position off the coast of Malta.

Security firm EOS Risk Group, talking with Reuters, indicated the ship may have suffered a drone attack while sailing towards the Suez Canal after departing Murmansk on 24^th February with an LNG cargo loaded from an FSU.

The vessel had allegedly deactivated its AIS tracker for around 300 km prior to the incident.

Due to Iranian attacks on QatarEnergy’s operating facilities in Qatar’s Ras Laffan Industrial City and Mesaieed Industrial City, QatarEnergy ceased LNG and associated products’ production on Monday, sending European and Asian gas prices soaring.

US LNG developer, NextDecade Corp has given an update on activities during the fourth quarter of last year and the early first quarter of 2026.

Malaysia’s LNG owner and operator, MISC, part of the giant PETRONAS empire, has ordered another two, plus two optional 174,000 cu m LNGCs from China’s Hudong-Zhonghua shipyard.

This follows an order for three, plus three, LNGCs placed at the shipyard in January.

The vessels will be built to the shipyard’s own Changheng series Star design.

“The signing of the order further consolidates the company’s leading position in the high-end LNGC market, lays a solid foundation for the sustained sound development of the company’s production operation throughout the year,” the shipyard said.

All five firm vessels will be chartered to PETRONAS.

As the Middle East conflict escalated over the weekend with strikes occurring on several Middle Eastern countries, following the US and Israel’s attack on Iran, the Strait of Hormuz choke point, was reportedly still marginally open.