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Lng Supply News

27 Feb 2024

Woodside and Kogas Agree LNG Supply Deal

Source: Kogas

Woodside has signed a sale and purchase agreement (SPA) with Korea Gas Corporation (KOGAS) for the long-term supply of LNG to Korea.The SPA provides for the supply of approximately 0.5 million tonnes per annum of LNG for a period of 10.5 years on a delivered basis, commencing in 2026 subject to customary conditions precedent.LNG delivered to KOGAS under the SPA will be sourced from uncommitted volumes across Woodside’s global portfolio, including the Scarborough Energy Project which is targeting first LNG cargo in 2026.Woodside CEO Meg O’Neill said the SPA was significant as Woodside’s first l

02 Jan 2024

US Was Top LNG Exporter in 2023 as Hit Record Levels

© scandamerican / Adobe Stock

U.S. liquefied natural gas exports hit monthly and annual record highs in December, tanker tracking data showed, with analysts saying it positioned the United States to leapfrog Qatar and Australia to become the largest exporter of LNG in 2023.The U.S. was the stand out in global LNG supply growth in 2023, said Alex Munton, director of global gas and LNG research at consulting firm Rapidan Energy Group of the rise to 8.6 million metric tons leaving U.S. terminals in December.Qatar was the largest LNG exporter in 2022 and Australia the second-largest that year, U.S. government data showed."U.S.

08 Nov 2023

Seaside LNG and Carnival Corporation Partner to Fuel LNG-Powered Cruise Ship in Galveston

Credit:HenSti/Wikimedia Commons - CC BY-SA 4.0 DEED

Seaside LNG and Carnival Corporation have entered into a term bunkering agreement to fuel the Carnival Jubilee, the first LNG-propelled cruise ship to call Galveston, Texas, its homeport.Seaside’s barge, the Clean Jacksonville, will move from Jacksonville, Florida, to operate out of Galveston and serve the Texas Gulf Coast with its first LNG delivery to the Carnival Jubilee in December 2023. With the assistance of the Port of Galveston, Seaside aligned all stakeholders to ensure the proper infrastructure is in place to begin the operation this winter.Initially…

05 Nov 2023

Sinopec Signs 27-Year LNG Supply Deal

Source: QatarEnergy

State-owned Chinese firm Sinopec signed a new 27-year LNG supply and purchase agreement with QatarEnergy, the two companies said on Saturday.Under the agreement, the two companies will cooperate on the second phase of the Gulf Arab state's North Field expansion project, which will supply 3 million metric tons of LNG per year to Sinopec.A partnership agreement was also signed under which QatarEnergy will transfer a 5% interest to Sinopec in a joint venture company that owns the equivalent of 6 million tons per year of LNG production capacity in the North Field South project.The deal, signed at

24 Oct 2023

Crowley to Launch LNG Bunkering at Panama Canal's Pacific Side

(Photo: Crowley)

Shipping and energy logistics company Crowley said Tuesday it is proceeding with plans to provide liquefied natural gas (LNG) bunkering services on the Pacific side of the Panama Canal, under the first permit issued by the Panama Maritime Authority (AMP) for the provision of such services.Crowley’s advanced energy group will operate the service to manage the ship-to-ship LNG transfer services. With a potential start date in 2024, Crowley is preparing to provide bunkering and related…

18 Sep 2023

Chevron's Strike-hit Australia LNG Facility Resumes Full Production

Credit: Chevron Australia (file photo)

Chevron said on Monday full production had resumed at its strike-hit Wheatstone liquefied natural gas (LNG) facility in Western Australia after a fault last week cut production by about one-fifth.Wheatstone and the nearby Gorgon facility account for over 5% of global LNG supply, and the fault and the strikes did not affect scheduled deliveries, Chevron said, with shipping data on LSEG Eikon also showing exports from Wheatstone were unaffected.Chevron said on Monday full production…

03 Aug 2023

India's GAIL Close to Finalizing Qatar LNG Purchase Deal

Credit: Anatoly Kolodey/AdobeStock

GAIL (India) Ltd is close to finalizing a long-term liquefied natural gas (LNG) import deal with Qatar to buy at least 1 million metric tons per year, potentially for more than 20 years, three industry and trade sources said.The deal would be part of GAIL's plans to lock in new supply contracts by 2030 to diversify its gas imports and hedge against supply disruptions like those seen after Russia's invasion of Ukraine last year, when LNG prices surged to a record high.Neither state…

03 Aug 2023

Harsh Weather Offshore LNG Terminal Firm Crown to Merge with Catcha

Kakinada LNG terminal (Illustration by Aker Solutions)

Crown LNG Holdings AS, a provider of LNG liquefaction and regasification terminal technologies for harsh weather locations, has agreed to merge with Catcha Investment Corp, a publicly traded special purpose acquisition company, that would result in Crown becoming a U.S. publicly listed company. The combined company, named Crown LNG Holdings Limited (“PubCo”), intends to apply to list its shares on the New York Stock Exchange under the new ticker symbol “CGBS”.Crown designs and…

07 Jul 2023

Thailand's PTT in Advanced Talks with Qatar for LNG Deal - Sources

Credit: Wojciech Wrzesień/AdobeStock

Thailand's largest energy company, state-controlled PTT, is in advanced talks with Qatar for a 15-year liquefied natural gas (LNG) supply deal, four trading sources told Reuters.The oil and gas conglomerate is negotiating a supply of 1 or 2 million tonnes per annum (mtpa), according to different figures cited by the sources, in what would be the latest in a spate of deals by Asian buyers to lock in long term supplies.A fifth industry source said that both companies are in "serious negotiations"…

08 Jun 2023

Titan Charters LNG Bunker Vessel from Fratelli Cosulich

(Image: Titan)

Clean fuels supplier Titan announced it has signed a long-term time charter agreement with Italian maritime transportation group Fratelli Cosulich for the new 8,200Cbm capacity liquefied natural gas (LNG) bunker vessel Alice Cosulich.Alice Cosulich will join Titan's fleet in the fourth quarter of this year and will operate in Europe. The vessel, which has an LNG and liquified biomethane (LBM) bunkering capacity of 8,200 m3, as well as smaller parcels of biodiesel going forward…

01 Jun 2023

QatarEnergy in 15-Year LNG Supply Deal with Bangladesh

©QatarEnergy

QatarEnergy’s LNG trading arm, QatarEnergy Trading, has signed a long-term LNG Sale and Purchase Agreement (SPA) with Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) to supply about 1.8 million tons per annum (MTPA) of LNG to Bangladesh for 15 years, starting in 2026.The SPA signing at QatarEnergy’s Headquarters in Doha, was witnessed by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and Nasrul Hamid, the state minister for Power…

30 May 2023

QatarEnergy to Sign Long-term Asian LNG Supply Deal on Thursday - Source

©Timon/AdobeStock

QatarEnergy will sign a long-term liquefied natural gas (LNG) supply deal with an Asian entity on Thursday, a source with direct knowledge of the matter told Reuters.The deal will be one of many to come this year as the major LNG producer secures sales for its North Field expansion project, the source said on Tuesday. Competition for LNG ramped up last year after the Ukraine war, with Europe in particular needing vast amounts to help replace Russian pipeline gas that used to make up almost 40% of the continent's imports.

14 Mar 2023

Wave of New LNG Export Plants Threatens to Knock Gas Prices

© NPershaj / Adobe Stock

A flood of liquefied natural gas (LNG) export projects due online worldwide in mid-decade will vie against lower-cost renewable energy and a revived nuclear power sector, which could rock gas prices and hurt some proposed projects, analysts say.Proposed and approved new LNG plants would boost LNG supply by 67% increase to 636 million tonnes per annum (mtpa) by 2030 from 2021 levels, potentially saturating the gas market."There's over a trillion dollars of natural gas infrastructure being built in the world today.

28 Feb 2023

Shell and Hapag-Lloyd Ink LNG Supply Deal

© olrat / Adobe Stock

German container liner Hapag-Lloyd announced it has signed a multi-year agreement with Shell to bunker its ultra large dual-fuel containerships with liquefied natural gas (LNG) in the Port of Rotterdam.LNG bunkering for these 12 new 23,500+ TEU vessels is expected to start during the second half of 2023 as the ships deploy on Europe-Far East routes, calling ports such as Rotterdam, Hamburg, Singapor, and Shanghai.Hapag-Lloyd, which aims to achieve net zero carbon emissions by 2045…

20 Feb 2023

US LNG Producers Poised to Leapfrog Rivals with Three New Projects

© moofushi / Adobe Stock

At least three proposed U.S. liquefied natural gas (LNG) export plants have likely found enough customers to receive financial approvals this year, according to Reuters calculations, developments that would make the country the world's largest LNG exporter for years to come.After a dearth of plant approvals last decade, developers have secured dozens of long-term contracts to finance new multibillion-dollar LNG plants. The pace of approvals has accelerated as Europe has shifted…

04 Jan 2023

US Poised to Regain Crown as World's Top LNG Exporter

© moofushi / Adobe Stock

The United States is on track to become the world's biggest exporter of liquefied natural gas (LNG) this year - ahead of current market leader Australia - once a fire-idled Texas plant is restarted, according to Reuters data.A June fire sidelined Freeport LNG, the second biggest U.S. export facility, and cut U.S. exports of the fuel by about 2 billion cubic feet per day (bcfd). That outage dropped the United States behind top exporter Australia as global demand for the fuel boomed.In 2022, U.S. exports of natural gas as LNG rose 8% to 10.6 bcfd, just shy of Australia's 10.7 bcfd.

30 Nov 2022

Germany to Get New Qatari LNG flows Through QatarEnergy, ConocoPhillips Deal

Credit: QatarEnergy

Germany is set to receive new flows of Qatari liquefied natural gas (LNG) from 2026 after QatarEnergy and ConocoPhillips COP.N on Tuesday signed two sales and purchase agreements for its export covering at least a 15-year period. Since Russia's invasion of Ukraine in February, competition for LNG has become intense, with Europe in particular needing vast amounts to help replace Russian pipeline gas that used to make up almost 40% of the continent's imports.The deal, the first of its kind to Europe from Qatar's North Field expansion project…

17 Nov 2022

Nigeria to Build its First FLNG Unit

UTM Offshore Signs Front-End Engineering Design (FEED) Contract for Floating Liquefied Natural Gas (FLNG) Facility in Nigeria. Image Source: UTM Offshore

Nigerian company UTM Offshore has signed a front-end engineering design (FEED) contract for the development of an FLNG facility in Nigeria with JGC Corporation, Technip Energies, and KBR.This will be Nigeria's first floating liquefied natural gas (FLNG) facility. Africa currently has two FLNG units in operation, the Hili Episeyo in Cameroon, and, as of recently, the Coral Sul FLNG in Mozambique. In Nigeria, the FLNG unit will be used for development of offshore block OML  204.According to Chief Timipre Sylva…

04 Oct 2022

More U.S. LNG Heads to Europe Despite Output Constraints

Credit: alexlmx/AdobeStock

U.S. producers of liquefied natural gas (LNG) boosted exports to Europe in September even as a plant outage kept overall shipments below the average for the first eight months of 2022, Refinitiv Eikon data showed on Monday.A June fire at the United States' second-largest exporter Freeport LNG has the country's output below its full processing capacity even as demand and prices for the superchilled gas soar on European buyers seeking alternatives to Russian gas.A total of 87 cargoes departed from U.S.

29 Sep 2022

Australia Rules Out Curbs on LNG Exports after Producer Deal

Credit:  4680.photo/AdobeStock

Australia will not put curbs on gas exports after reaching a deal with its three east coast producers of liquefied natural gas (LNG) to avert a forecast supply crunch, Resources Minister Madeleine King said on Thursday.The government threatened the export curbs in August, worrying Asian buyers and LNG investors, following a warning by the competition watchdog that the east coast market faced a shortfall of 57 petajoules of gas in 2023.The pact unveiled on Thursday provides for Queensland Curtis LNG…

26 Sep 2022

ADNOC to Supply First LNG for RWE's Floating LNG Import Terminal at Brunsbüttel

Credit: Pawinee/AdobeStock

German utility RWE has signed a deal with Abu Dhabi National Oil Company (ADNOC) to deliver liquefied natural gas to Europe's largest economy by the end of December, RWE announced on Sunday.Though the initial amount to be delivered is relatively small, it's a politically significant deal to shore up supplies of gas from outside of Russia as Chancellor Olaf Scholz seeks to deepen ties with the Gulf and find alternative energy sources.The deal, which includes a memorandum of understanding for multi-year supplies of LNG…

18 Aug 2022

Shell's Giant Prelude FLNG Unit to Remain Shut for Longer as Pay Dispute Continues

Unions at Shell Plc's Prelude floating liquefied natural gas (FLNG) site off Australia have extended industrial action to Sept. 1 over a long-running pay dispute, the company said on Thursday. Shell shut down the 3.6-million-tonne-a-year site in July and told customers it would be unable to supply LNG cargoes for the duration of work stoppages approved by Australia's Fair Work Commission, or Protected Industrial Action (PIA). "We can confirm it's been renewed until Sept. 1," a Shell spokesperson said of the protected industrial action. The work stoppages began on June 10 and no cargoes have been shipped from the site in about five weeks, worsening a global LNG supply crunch amid the Ukraine conflict.

10 Aug 2022

LNG Traders Absorb Huge Losses After Supply Outages

Major energy traders are taking hundreds of millions of dollars in losses as they scramble to plug a liquefied natural gas (LNG) supply gap after several outages hampered efforts to fill European storage ahead of the winter heating season.Unplanned disruptions at LNG plants in the United States, Nigeria and Australia have wrong-footed traders, including BP and Shell, forcing them to pay inflated costs for alternative supplies.In a market already struggling to meet global demand for natural gas after Russia sharply reduced pipeline supplies into Europe, the lost LNG cargoes which can be transported by ship, have pushed global prices sharply…

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