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Overview
With significant investment going into LNG export projects in the US, Australia and across Asia-Pacific and continued concerns about gas imports into Europe and Asia, LNG is expanding as a major sector of the global gas market that has attracted super-majors and independent companies alike.
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Progress in the reorganisation of PDVSA Gas Colombia
The Superintendency of Companies announced on May 28 that the reorganisation process of PDVSA Gas Colombia is advancing.
Argentina faces mass natural gas shortage as coldest winter since 1980 approaches
Argentina is urgently seeking fuel supplies as winter intensifies in the southern hemisphere, with lower-than-expected temperatures driving up demand for home heating.
Argentina unblocks Petrobras gas shipment amid supply crunch
Argentina's government announced the decision to unblock a Petrobras gas shipment amid a local supply shortage ahead of the winter months.
Thailand’s gas demand expected to increase by almost 6% during the next decade.
Reports indicate that gas and LNG will be increasingly vital in meeting Southeast Asia's energy needs, particularly in Thailand, as the region transitions to cleaner and more sustainable energy sources.
ADNOC to expand fleet with six new LNG carriers
Argentina's gas supply system in emergency shutdown amid frigid weather
Following a week of frigid temperatures, Argentina's gas supply system, already stretched to its limits, started a state of emergency, resulting in a complete halt of supply to over 300 industries and numerous CNG service stations across the nation.
BP, Shell and EOG bid in Trinidad and Tobago’s oil and gas auction
BP, Shell and US shale producer EOG Resources submitted six bids on four blocks to explore for oil and gas in Trinidad and Tobago’s shallow-water auction. The three companies already operate in Trinidad.
BP and EOG Resources in talks to develop Trinidad gas field
BP and U.S. shale producer EOG Resources are in advanced discussions to jointly develop a significant natural gas field off the coast of Trinidad and Tobago, BP announced.
Vitol and South Korea’s KOMIPO extend LNG supply deal until 2028
Swiss-based commodities trader Vitol has agreed with Korea Middle Power to extend its LNG sales and purchase agreement until 2028.
Glenfarne asks FERC for 5-year extension to build Texas LNG plant
New York-headquartered Glenfarne Group has requested regulators for a five-year extension for the construction of its proposed Texas LNG export terminal.
European LNG prices soar to 5-month high
European LNG prices have climbed to a 5-month high amid tightness in European LNG supply due to increased demand globally and ongoing geopolitical risk factors.
Finland’s Gasum extends LNG bunkering deal with Equinor
Finnish state-run energy firm Gasum has signed a long-term supply contract with Norway’s Equinor that will see it continue to supply the Norwegian supermajor with LNG for its dual-fuel chartered fleet of vessels.
JERA considers reducing investment in Australia if Canberra does not move to reduce LNG costs
Japan's leading power generator JERA cautioned on May 23 that it may seek LNG purchases and investments in Asia, the Middle East and the United States if Australia does not provide adequate financial support to reduce costs.
State-owned gas company PGN completes $396.7mn bond repayment, bolstering financial stability
PT Perusahaan Gas Negara, a subsidiary of Indonesia's state-owned energy company PT Pertamina, has successfully repaid the remaining $396.7mn of its bonds
Cape of Good Hope emerges as top route for US LNG cargoes to Asia
US LNG exporters have pivoted to shipping cargoes to Asia around the Cape of Good Hope in the first half of 2024.
Santos strikes LNG supply deal with Japan's Hokkaido Gas
Australia’s second-largest gas producer Santos has signed a binding deal to supply 0.4mn tonnes of LNG annually to Japan’s Hokkaido Gas over a ten-year period.
Could Russia create an LNG “dark fleet?”
Russia has already shown a surprising ability to get its hydrocarbons to market and mitigate the impact of Western sanctions.
National Grid to divest UK's Grain LNG terminal
UK energy infrastructure operator National Grid announced on May 23 it would divest Europe’s largest LNG import terminal on Grain Island in southeast England.
India's LNG import terminals see surge as market stabilises
India's liquefied natural gas import terminals see increased activity in 2024 as global gas market conditions stabilise
Gazprom uses African route to ship Portovaya LNG to China
Tankers carrying LNG from Gazprom's Portovaya terminal in northwest Russia began making their way to China around Africa this spring, avoiding the shorter route via the Red Sea because of the risk of attacks by Houthi rebels.
Bangladesh braces for disruption in LNG supply as cyclone looms
Bangladesh is on high alert as the government has cautioned that a looming cyclone in the Bay of Bengal could severely disrupt the nation's gas supply
CNOOC signs E&P deal for five oil and gas blocks offshore Mozambique
State-run China National Offshore Oil Corporation (CNOOC) has signed concession contracts for oil exploration and production with Mozambique’s Ministry of Mineral Resources and Energy and the national energy company ENH.
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