Liquified Natural Gas (LNG)

A US court ordered federal regulators to reassess the impact of greenhouse gas emissions from Commonwealth LNG’s Louisiana project, potentially delaying full approvals.

Russia attacked and damaged a gas facility in the Poltava region operated by UkrGazVydobuvannya (UGV), Ukraine’s state-owned producer, on 03 July.

The European Union has agreed on the contents of a 14th sanctions package against Russia, aiming at the latter’s LNG sector for the first time.

Freeport LNG has sued contractors Zachry Industrial, Chiyoda International, and CB&I over defects in electric motors at its Texas plant, which have led to significant outages and costly repairs, with damages exceeding $1 million.

The National Grid announced its plan to sell Britain’s largest liquefied natural gas (LNG) terminal, Grain LNG, as part of its strategy to streamline operations and focus on networks, as stated during the presentation of its 2023/24 business year earnings.

The Panama Canal is in talks with US LNG producers to increase transit through the passage as water levels begin to recover.

German gas consumption rebounded sharply in the week to Apr 21 due to colder weather, with stocks at 67.2% of capacity compared with 69.1% the previous week.

As crude prices strengthen, producers remain keen to keep crude flowing. However, these wells in the US produce natural gas as a by-product, leading to an even greater supply glut.

Credit Agricole announced its decision to abstain from providing financing to two significant LNG projects. This move reflects the bank’s dedication to refraining from supporting new fossil fuel developments…

This fortnight in LNG, we have seen a poor heating demand in Europe amid stocks still at 66% of full capacity compared to last fortnight’s levels of 70%, on Jan 31. Read more in our LNG Report.

These last two weeks in LNG: we have seen a lack of support despite freezing weather as most LNG benchmarks were seen weakening, with Mar TTF notably trading from €34/MWh on Jan 05 to €27.97/MWh on Jan 18. Storage is decreasing but market participants are not worried.

Freight rates out of the US Gulf Coast fell 10c on the week, in turn weakness spread like the plague into JKM and most notably TTF contracts. Top news this week comes out of Australia, with Woodside Energy and Santos