LNG

Before the Middle East conflict began, gas demand had weakened across major markets. 

The Iran war has unleashed the biggest fossil supply shock in decades. 

While the global gas market was preparing for a substantial increase in future natural gas supply, driven by new liquefaction projects expected to come online, prevailing concerns were largely confined to the risk of a supply glut, downward pressure on prices, and subdued demand. 

The Mediterranean region could become a critical demand centre for Atlantic Basin LNG.

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

The US’ largest LNG exporter, Cheniere is running at full capacity, as its Asian customers asked for more supplies in the wake of the Middle East conflict, confirmed CEO, Jack Fusco.

Serbian Minister of Mines and Energy, Dubravka Đedović Handanović, met with Greece’s Minister of Environment and Energy, Stavros Papastavrou, recently to discuss international developments in the energy sector.

TotalEnergies has confirmed that it had signed settlement agreements with the US Department of the Interior, which will see the company redirect nearly $1 bill invested in leases for two US offshore wind projects into the LNG sector. 

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.