LNG

Argentina’s Río Negro provincial government has signed a memorandum of understanding (MoU) with state controlled energy company, YPF to establish a regulatory framework and institutional co-operation aimed at developing the Argentina LNG project.

bp is still interested in cross-border opportunities with Venezuela, despite the Caracas government suspending all bilateral energy agreements with Trinidad and Tobago last year, the UK energy major’s country head, David Campbell, said at an energy conference held in Port of Spain.

Both Shell and bp had been granted licenses by the US and Venezuela to develop offshore natural gas projects at the maritime border, which contains huge reserves.

"There is an industrial logic that says there are resources across the border where people are perhaps more cautious to invest, right next to our underutilised assets like Atlantic LNG and Point Lisas," Campbell said.

"It is an obvious project to have," he added in reference to Cocuina-Manakin, the gas project bp and Venezuela's state-run PDVSA had been planning.

Cocuina-Manakin contains gas deposits that extend across both countries, thus joint development is needed to begin production, after the exploration phase was completed several years ago.

About 10% of all of bp's capital spending worldwide went to energy projects in Trinidad last year, Campbell revealed during the conference.

Major gas consuming regions recorded an increase in demand in late 2025, according to the January report from Dubai-based Gas Exporting Countries Forum (GECF).

Asian spot LNG prices rose for a second week in a row to hit a nine-week high, as lower winter temperatures across the northern hemisphere lifted heating demand.

The African Development Bank’s Board has approved a $150 mill senior loan to support the development of the ‘Coral Norte’ FLNG project.

Glenfarne Alaska LNG has provisionally appointed Australian engineering company, Worley to handle engineering, procurement, and construction management (EPCM) services for the first phase of the project.

Atlantic LNGC freight rates continued to fall last week ending up at $16,250 per day last Friday, while Pacific rates also softened, according to Spark Commodities.

The US front-month arbitrage to northeast Asia, via the Cape of Good Hope, also closed out further.

"This (last) week saw the strongest signal to Europe for US prompt cargoes since December, 2022, driven by continuing falls in the JKM/TTF spread, as the JKM fails to match the recent TTF rally," Spark’s analyst, Qasim Afghan, explained.

A surge in LNG supply is expected to play a key role in rebalancing global gas markets in 2026, leading to stronger demand growth after a slowdown last year, according to the IEA’s latest quarterly Gas Market Report.

UK’s energy giant Shell is considering selling its assets in Argentina's Vaca Muerta shale play and has approached potential buyers to gauge their interest, three sources have told Reuters.

Venture Global has won an arbitration case brought by Repsol LNG Holding.