QatarEnergy has signed two long-term agreements with Cheniere to purchase up to 4 million tonnes of liquefied natural gas (LNG) annually, with deliveries expected to begin in 2031 and continue through 2054.
President Emmanuel Macron said France will receive liquefied natural gas from Qatar during the winter months and will work to lower fuel transport costs from the Persian Gulf as it seeks to curb soaring energy prices.
Ongoing disruptions in LNG shipments through the Strait of Hormuz, driven by regional conflicts and attacks, are tightening global gas markets with limited alternative supplies, potentially extending into 2027 as European inventories remain low amid higher prices.
Liquefied natural gas prices on the Asian spot market topped $30 per million British thermal units for the first time since December 2022, Bloomberg reported earlier today. The price jump follows a report about a strike on an LNG tanker in the Gulf of Aden, off the Yemeni coast.
State-owned QatarEnergy has secured a five-year $3-billion loan from a group of Chinese banks as Qatar’s LNG exporter continues to struggle with shipping sizeable volumes to international markets.
MidOcean Energy has concluded its funding round for the year with over $4 billion in closed and pending commitments from new and existing investors.
Baker Hughes has signed two agreements aimed at supporting oil and gas development and expanding natural gas infrastructure in Venezuela, including a strategic alliance with state-owned PDVSA focused on gas production, processing and potential LNG exports.
ConocoPhillips and Venture Global have signed a deal that would see the liquefied natural gas major supply 1 million tons to Conoco beginning in 2030. The deal is part of a broader trend in energy to boost LNG exposure after QatarEnergy’s force majeure, with the outlook for LNG demand remaining robust despite geopolitics and their effect on prices.
The South Korean government has agreed to continue working with the United States government on a potential investment in the Alaska LNG project by the major gas-importing country, as part of their trade deal.
Shell (SHEL.L) and its partners on Tuesday gave the green light to a LNG Canada Phase 2 expansion in Kitimat, British Columbia, a C$33 billion bet that will double the facility’s production capacity to 28 million tonnes per annum (mtpa) and put Canada on a trajectory to become one of the world’s largest LNG exporters.