Weeks after New Fortress Energy rallied on news of a temporary contract extension for LNG supply to Puerto Rico, Bloomberg now reports the island has idled temporary power plants after the company abruptly halted a critical gas shipment, raising the risk of power outages at the peak of summer demand.
The LNG will be sourced from the company’s Das Island liquefaction facility, with the total deal valued at approximately USD 400 million. The site has exported over 3,500 LNG cargoes globally since 1977 and produces up to 6 million tonnes per year.
This marks the strongest signal yet that Aramco intends to take a material position in the U.S. LNG sector. It also follows earlier exploratory efforts with projects such as Delfin LNG and Energy Transfer’s Lake Charles facility, though those discussions have not resulted in formal agreements. The Commonwealth negotiations, if concluded, would give Aramco a direct channel into the fast-growing U.S. Gulf Coast export market, amid rising demand in Asia and Europe.
Announcing its maiden dispatch from the project, Petronas said, “LNG Canada is a critical component of PETRONAS’ global LNG strategy to diversify its supply portfolio and increase market flexibility. Strategically located on Canada’s west coast and connected to PETRONAS’ upstream gas assets in Northeast B.C., LNG Canada offers a direct and efficient shipping corridor to key North Asian markets including Japan, South Korea and China”.
Mozambican President Daniel Chapo said his government and private companies will have to collectively ensure the necessary security is in place to enable TotalEnergies to restart construction of a $20 billion gas project that has stalled due to a militant insurgency — and even then risks will remain.
LNG Canada has shipped its first cargo from Kitimat on the west coast of Canada, a milestone for Canada’s first large-scale LNG project, Shell announced on Monday.
LNG imports into China, the world’s top buyer of the super-chilled fuel, continue to be weaker than the prior-year month for the eighth consecutive month in June, according to ship-tracking data from Kpler cited by Bloomberg.
China is on track to import about 5 million tons of LNG this month, per Kpler’s data. This volume, if confirmed, would be a 12% decline compared to June last year.
Oil and the security of its supply have stolen the media spotlight in the context of the new Middle East war, and with good reason. Ever since Israel first bombed Iran, diesel prices have soared, jet fuel prices have soared, and importers have been troubled. For Europe, the situation is even worse due to natural gas.
Mexican firm Ursus Energy has received the concession for the Coatzacoalcos II development hub, enabling it to proceed with a planned LNG plant focused on exports to the Americas and Europe, the company said on Monday.
Cheniere is planning further brownfield expansions in phases at both terminals, potentially increasing capacity to approximately 75 million tpy by the early 2030s. The company is following a capital allocation programme that calls for USD 20 billion in capital deployments by 2026.