LNG

Click to Download

Iranian missile strikes on 18–19 March damaged two LNG trains at Ras Laffan, removing 12.8mtpa of capacity for up to five years. The damage transforms what was a precautionary shutdown into a structural supply loss, delays the projected oversupply, and forces at least temporary demand destruction on South Asia's most exposed importers.

Click to Download

Click to Download

The Hormuz closure has accelerated US LNG cargo diversions to Asia, with at least one shipment heading for China despite tariffs that had blocked such trade for over a year. In the same week, Venture Global sanctioned CP2 Phase 2, the first US project FID of 2026, reinforcing the investment case for American export capacity.

Petronet, India’s leading LNG importer, is facing a strategic setback in its push for more “reasonable rates” for US cargoes, as the escalating Iran crisis and QatarEnergy’s suspension of LNG exports undermine its bargaining power to renegotiate legacy contracts; our Markets Editor Anja Karl investigates. 

The largest supply expansion in LNG history is under way, but it arrives into a market that is tighter than expected, with demand-side constraints that will make the path to oversupply messier and more protracted than the consensus assumes, our Markets Editor Dr Alexander Wilk writes. 

Asian spot buyers curtailed demand in February, removing over 3.2MMt of combined Chinese and Indian demand in a single month. Atlantic supply was drawn into the Pacific while Europe absorbed near-record volumes against critically depleted storage and an increasingly concentrated supplier base, our Markets Editor Dr Alexander Wilk writes. 

The need for energy security continues to dominate decisions around energy project development around the world. 

Situated on the former Woodfibre pulp mill site in Howe Sound, the Woodfibre LNG project recently passed the mid‑point in its construction programme, with around 60% of physical works completed.