During last week’s earnings call, US energy major, ConocoPhillips revealed that an additional 1.5 mill tonnes per annum of regasification capacity was booked at Fluxy’s Dunkerque LNG import terminal.

All of the 5 mill tonnes per annum from Port Arthur LNG was placed with buyers, while commercial activities were ongoing in Europe and Asia.

The oil and gas company targeted a $7 bill free cash flow inflection by 2029 (at $70 per barrel WTI, non-GAAP).

During the call, the management reiterated and narrowed full-year 2025 production guidance, despite the pending Anadarko Basin divestiture and maintained capital and operating cost guidance unchanged from previous reductions.

ConocoPhillips  expected notable free cash flow tailwinds in the second half of this year, citing lower capital spending, increased APLNG distributions, and favourable cash tax changes.

CEO, Ryan Lance, said: “Assuming a $70 per barrel WTI price environment, we expect the major projects we’re currently progressing, combined with the additional cost and margin enhancements we just announced, to drive a $7 bill free cash flow inflection by 2029.

“That would almost double the consensus free cash flow expectation for the entire company this year,” he said.

Last Friday, Australia’s Queensland Supreme Court ruled in favour of energy developer Santos in proceedings brought by the company against construction company, Fluor Australia.

The Court confirmed that Fluor must pay around A$692 mill to Santos and its co-venturers, with further sums yet to be determined.

This case centred around an engineering and construction contract that Santos signed with Fluor in 2011 for the development of production facilities that formed part of the Gladstone LNG project.

Construction took place between 2011 and 2014.

Santos argued that Fluor was not entitled to all the costs it had claimed and received payment for under the contract and sought to recover those amounts and also made claims to recover liquidated damages associated with the late completion of the project.

In addition, Santos sought to enforce against a parent company guarantee from Fluor Corp.

The Court referred Santos’ claims to three referees who provided their final report on 14th July, 2023. In the referees’ opinion Santos was entitled to recover certain costs.

It upheld the majority of the referees’ findings, affirming that Fluor must pay at least A$692 mill to Santos and its co-venturers, with further sums owing, and the final amount ordered in Santos’ favour (with interest plus legal costs) to be determined in the coming weeks.

Thirty LNGCs sailed from US export terminals between 31^st July and 7^th August.

Eight left Sabine Pass, five each from Corpus Christi and Freeport, four from Plaquemines, three each from Cameron and Calcasieu Pass and two from Cove Point.

They had a combined carrying capacity of 113 bill cu ft of LNG, according to data provided by Bloomberg Finance to the US Energy Information Administration (EIA).

TotalEnergies’ affiliate, Total Austral, has agreed to sell its 45% stake in two unconventional oil and gas blocks to Argentina’s state owned energy company, YPF.

The deal was valued at $500 mill, TotalEnergies said, and represented about 20% of the French group’s acreage in Argentina’s giant Vaca Muerta shale formation, the world’s second-largest unconventional gas reserve.

TotalEnergies is Argentina’s largest private operator, responsible for about a quarter of the country’s gas production.

Javier Ravelo, TotalEnergies’ Senior Vice President of Exploration and Production in the Americas, said the company remained committed to Argentina and that the sale freed it up to focus on developing its core assets there, notably the Fenix gas field offshore Tierra del Fuego, and in the Neuquen basin.

YPF said in a statement the assets came with fracking licences valid through 2051, which are key to the Argentinian company’s growth strategy.

TotalEnergies CEO, Patrick Pouyanne, said on a 24^th July results call that the company had accepted binding offers for its Argentinian shale oil licence and two upstream assets.

The stake sales are in assets partly owned by Shell (45%) and local firm Gas y Petroleo de Neuquen (10%).

Last Friday, the FSRU ‘Energos Force’ arrived at Aqaba, Jordan, ahead of its connection to the Arab Gas pipeline.

The FSRU is due to commence operations this week, facilitating the regasification of LNG shipments, according to Jordan’s news agency.

Egypt and Jordan signed a co-operation agreement in 2024 that entails leveraging Egypt’s FSRUs to supply Jordan with natural gas and secure its local market demands.

The FSRU’s connection to the Arab Gas pipeline will enable Egypt to tap into LNG supplies during peak demand or emergencies and also supply Jordan.

Egypt’s Damietta port is also expected to receive the FSRU ‘Energos Winter’, which will operate in Egypt for five years upon the lease agreement signed between the unit’s operator and EGAS.

Coastal Bend LNG has selected ConocoPhillips’ optimised cascade process liquefaction technology for its planned natural gas liquefaction and export facility on the Texas Gulf Coast.

The planned development includes multiple liquefaction trains, co-generation, LNG storage tanks and export facilities.

“ConocoPhillips’ technology and expertise provides us with the confidence that the optimised cascade process will deliver world class LNG facility performance, while mitigating greenhouse gas emissions,” said Nick Flores, Coastal Bend LNG CEO.

“ConocoPhillips is pleased to support Coastal Bend LNG with our high-efficiency optimized cascade design that includes our latest low emission design and operating features,” added Darren Meznarich, Manager of ConocoPhillips LNG Technology and Licensing.

Coastal Bend LNG expects to pre-file its Federal Energy Regulatory Commission (FERC) permits this year.

LNGC owner and operator, TMS Cardiff Gas has partnered with Kaiko Systems to ensure crew readiness and compliance with the recently introduced SIRE 2.0 inspections.

Kaiko’s software will be integrated into the entire fleet, as the company enhances the readiness of its crew for the new inspection regime.

With the industry transitioning to a more rigorous and performance driven inspection process, TMS Cardiff Gas sought a solution that could empower its teams to independently assess their preparedness, foster accountability, and ensure compliance with the new standards put together by OCIMF.

Kaiko Systems’ web-based application, combined with its user-friendly interface and comprehensive questionnaire, aligned perfectly with the company’s main goals of streamlining pre-inspection procedures and building crew confidence, the company claimed.

One of the major concerns for shipowners and managers is ensuring that every crew member, regardless of their role or location, can participate effectively in pre-SIRE inspection preparations.

Using its technology on the 18 vessels provides TMS Cardiff Gas with an accessible platform where everyone can independently review and answer the multiple-choice questionnaires – fostering a culture of collective responsibility and preparedness, the company said.

For the second week running, 28 LNGCs left US export terminals between 24^th and 30^th July.

Eight left Sabine Pass. four each from Cameron, Corpus Christi, and Plaquemines, three each from Freeport and Calcasieu Pass and two from Cove Point.

They had a combined LNG-carrying capacity of 108 bill cu ft, according to shipping data provided by Bloomberg Finance to the US Energy Information Administration (EIA).

Nigeria’s NNPC Gas Marketing (NGML) has signed a joint venture agreement with Zuid Energies to develop a 6 mill standard cu ft per day capacity compressed natural nas (CNG) plant and a 40 cu ft per day LNG facility in Ajaokuta, Kogi State.

NNPCL stressed that the development is part of its strategic drive to expand gas marketing and distribution across Nigeria.

The signing ceremony took place on the sidelines of last week’s Mobility-CNG Stakeholders Workshop in Abuja, with the theme:’Deepening Industry Alignment for a Sustainable Mobility-CNG Sub-Sector.’

GAIL (India) has issued a swap tender, offering six US-loaded LNG cargoes in exchange for six deliveries to India, two industry sources have said.

India’s largest gas distributor, is offering the cargoes for loading on a free-on-board (FOB) basis in February, April, June, August, October and December, 2026, from Sabine Pass or Cove Point, one of the sources said.

In exchange, GAIL is seeking six cargoes for delivery on a delivered ex-ship (DES) basis to India for the same months.

The tender closes on 6^th August, the sources added.

US Oil and gas equipment supplier, Baker Hughes is nearing a $13.6 bill cash deal to buy Chart Industries, to counter Flowserve’s offer, the UK’s Financial Times reported yesterday.

A potential deal would displace an agreement Chart made in June to combine with flow control systems manufacturer, Flowserve in a $19 bill all-stock merger.

This agreement has now been terminated, the FT reported.

Chart manufactures industrial equipment, such as valves and measurement technology for gas and liquid molecule handling and had a market capitalization of $7.71 bill as of Monday’s stock exchange close, as per LSEG data.

The deal with Baker Hughes would value Chart’s equity at $210 per share, a 22% premium to its market value, giving it an equity value of about $10 bill, the report said.

The merger will likely be announced in the coming days, the FT added, citing sources who warned that the agreement was not final and the plans could change.

Baker Hughes has been trying to leverage its industrial and energy technology portfolio to drive growth and expand its presence in the natural gas and LNG sector.

UK energy giant Shell’s subsidiary, BG International has taken a final investment decision (FID) to develop the Mina West gas discovery in Egypt’s Mediterranean Sea.

Shell (60%) will operate the field alongside partner, Kufpec (Egypt) (KUFPEC) (40%), working in close collaboration with Egyptian Natural Gas Holding Co (EGAS).

Discovered in October, 2023, Mina West will be developed as a subsea tie-back to the existing infrastructure of West Delta Deep Marine (WDDM), supporting the delivery of energy to Egypt’s domestic gas market.

“Investing in new production at Mina West expands our industry-leading integrated gas business and supports delivery of secure, reliable energy to Egypt’s domestic market in-line with our strategy to create more value with less emissions,” said Dalia Elgabry, Shell Egypt’s Vice President and Country Chair.

Some 28 LNGCs sailed from US export facilities between 17^th and 23^rd of July.

Seven vessels left Sabine Pass, five each from Freeport and Plaquemines, four from Corpus Christi, three each from Calcasieu Pass and Cameron, and one from Cove Point.

They had a combined LNG carrying capacity of 104 bill cu ft, according to shipping data provided by Bloomberg Finance, to the US Energy Information Administration.

UK gas supplier, Centrica has posted a drop in first-half adjusted operating profit, due to mild weather, falling wholesale energy prices and weaker returns from gas storage.

British utilities have been facing increasing challenges in recent months with mild weather hitting energy demand, low wind speeds impacting renewable output, and subdued wholesale prices squeezing margins.

“There is still much more to do across the group, including improving our commercial performance in services & solutions,” CEO Chris O’Shea said in a statement, as the division’s customer base fell 2% in the first half of the year.

Centrica, which disclosed it had taken a 15% stake in the Sizewell C nuclear plant this week, reported an adjusted operating profit of £549 mill for the first six months of this year, down from the £1.04 bill reported for 1H24..

Japanese engineering group, JGC Holdings Corp’s  subsidiary, JGC France, it has been awarded a preliminary contract for an African FLNG project.

The contract, effective until 30^th September, 2025, will be executed as part of a joint venture in which JGC France is participating.

The total contract value for the joint venture is around $550 mill.

This award covers preliminary activities related to the engineering, procurement, and construction (EPC) of the FLNG.

A full-scale EPCIC (engineering, procurement, construction, installation, and commissioning) contract is expected to follow.

Africa is a key growth market for the JGC group, and through the successful execution of this project, it aims to contribute to the region’s industrial development and the improvement of local infrastructure, the company said.

The European Union has removed three Mitsui OSK Lines (MOL) managed Arc4 LNGCs, ‘North Moon’, ‘North Ocean’, and ‘North Light’, from its sanctions list as part of the 18th package of restrictive measures announced last Friday.

The de-listing follows written assurances that the vessels will not be used to ship Russian LNG from the Yamal LNG or Arctic LNG 2 projects.  

They were initially sanctioned in the EU’s 17th package, issued in May, 2025, amid concerns over their intended deployment in NOVATEK’s Russia’s Arctic LNG supply chain.

At the time, MOL publicly objected to the inclusion of the ships on the sanctions list.

In a May, 2025 interview, MOL President & CEO Takeshi Hashimoto, said the company was “actively negotiating with the EU through various channels, including the Japanese government,” and expressed frustration over what he called a sudden reclassification: “For a long time, it was asserted that the Yamal project was not subject to sanctions, and suddenly these vessels were sanctioned.”  

Following the upward trajectory of 2024, demand for LNG-fuelled vessels has continued this year.

In the first six months of 2025, 87 new LNG dual-fuel vessels were ordered, up from 53 in the corresponding period in 2024. There are now 1,369 LNG dual-fuel vessels in operation and on order, according to data from industry coalition SEA-LNG member DNV.

This is revealed in a new report entitled ‘The LNG Pathway: Mid-Year Market Review’ – which evaluates the state of play for LNG, liquefied biomethane (LBM), and e-methane – as well as presenting initial analysis of why LNG dual-fuel engines offer the best returns under the IMO Net-Zero Framework.

Most of the 2025 orders have been for large containerships.

LNG bunkering volumes also continued to grow. In 1Q25, volumes in Rotterdam increased by 7%, compared with the same period in 2024, and Singapore reported 18% growth over the first five months of 2025 versus 2024.LNG

LNG bunkering is developing rapidly in the Western Mediterranean and China, with volumes increasing by over 60% in Shanghai in the first five months of 2025 versus the same period in 2024.

The review also included SEA-LNG’s initial analysis of the commercial implications of the IMO Net-Zero Framework using Z-Joule’s POOL.FM evaluation model.

This analysis showed that both high-pressure and low-pressure LNG dual-fuel engines offer a relative payback period of about 4.5 to 5 years, compared with VLSFO for a 14,000 TEU container vessel operating a trans-Pacific route, from Japan to the US West Coast.

However, ammonia- and methanol-fuelled vessels do not payback over the 15-year investment horizon.

Some 30 LNGCs departed US export terminals between 10^th and 16^th July.

Seven sailed from Sabine Pass, five each from Corpus Christi and Plaquemines, four each from Cameron and Freeport, three from Calcasieu Pass and two from Cove Point.

They had a total carrying capacity of 114 bill cu ft, according to shipping data provided by Bloomberg Finance to the US Energy Information Administration (EIA).

Indian state-run GAIL (India) is believed to be in preliminary discussions to secure a long-term supply of LNG from the planned Alaska LNG project.

This news comes as India aggressively expands its LNG import capacity to meet burgeoning energy demands, according to three industry sources, talking with newswires.

The talks with Alaska LNG developer, Glenfarne are also set against the backdrop of India’s broader efforts to increase its US energy imports.

This strategy is aimed at helping to narrow the trade surplus with the US, a key component of a trade agreement with Washington designed to avert the imposition of significant US tariffs.

Sources indicated that while discussions are underway, they were at the initial stages.

A crucial determinant for any potential deal will be the landed cost of the LNG, which will heavily influence GAIL’s final decision, they said.

Nigeria’s ABL Group has completed the first in-country competency assessment for NLNG Shipping and Marine Services Limited (NSML).

This marks a significant milestone in the company’s long-term commitment to marine operational excellence at Nigeria’s Bonny export terminal.

Daniel Wood, ABL’s Director of Ports & Harbours for Europe and West Africa, and Jim Jack, Senior Consultant, led the assessment of the NSML’s Head of Marine Operations position.

The evaluation is part of a broader project launched in conjunction with NSML in July, 2023 to build and implement a robust marine competency framework tailored to NSML’s operational needs.

Using oral interviews and scenario-based analysis, the process tested leadership, marine safety, risk management, emergency response, and compliance with international legislation.

“This isn’t just a test of knowledge, it’s about judgement, leadership and alignment with NSML’S strategic marine goals. We were especially impressed by the candidate’s emphasis on morale, safety culture and operational integrity,” said Wood.

Ikenna Duru, who was assessed on the Head of Marine Operations role, demonstrated a practical, people-first leadership style and strong marine terminal experience.

“This process helped me reflect on the depth of responsibility the role carries,” Duru said. “It was more than an interview, it was a deep dive into what it truly means to lead safely, efficiently, and ethically in a high-stakes marine environment.”

Dr Effiong Ekanem Attah, Maritime Centre of Excellence & Training Manager, added:“This assessment sets a benchmark for technical and leadership competence.

“We are pleased with the insights it provides, not only about individual readiness, but about how we can further tailor training and succession planning for our marine leaders,” he said.

The heads of Russia’s Gazprom and China’s energy company CNPC discussed future Russian gas supplies to China during talks in Beijing, Gazprom said last Friday, as Moscow seeks stronger ties with the world’s biggest energy consumer.

Russia, the holder of world’s largest gas reserves, has diverted oil supplies from Europe to India and China since the start of the conflict in Ukraine in February, 2022.

At the same time, Russia’s diversification of pipeline natural gas from the European Union has been slow.

It started gas exports to China via the Power of Siberia pipeline in the end of 2019 and plans to reach the pipeline’s annual exporting capacity of 38 bill cu m this year.

Russia and China have also agreed on exports of 10 bill cu m of gas from Russia’s Sakhalin project starting in 2027.

However, years of talks about the Power of Siberia 2 pipeline, which would ship 50 bill cu m of gas per year to China via Mongolia, have yet to be concluded, as the two sides argue over issues, such as the gas price.

Russian President Vladimir Putin is set to travel to China in early September to participate in celebrations marking the anniversary of the victory over Japan in World War II.

This trip will follow Chinese President Xi Jinping’s visit to Moscow in May.

French engineering group, Technip Energies has won a large contract to undertake preliminary work for an FLNG unit in Africa, believed to be the Coral Norte project.

The contract will be effective until 30th September, 2025.

Technip Energies claimed it was a global leader in FLNGs, having delivered three deepsea units worldwide with a total capacity of 8.2 mill tonnes per annum.

They included Malaysia’s PFLNG ‘Satu’, Shell’s ‘Prelude’ FLNG in Australia and Mozambique’s ‘Coral Sul’ FLNG.

The company described a large award as a contract representing between €250 mill and €500 mill in revenue.

This order represented Technip Energies’ share in a a joint venture and will be recorded in the Project Delivery segment’s backlog in 3Q25.   

“This large award covers preliminary activities only; additional order intake is expected to be booked upon full contract award,” the company explained.

Twenty-seven LNGCs sailed from US export terminals between 3^rd and 9^th July.

Eight left from Sabine Pass; four each from Corpus Christi, Freeport, and Plaquemines; three from Cameron; two from Calcasieu Pass; and one each from Cove Point and Elba Island.

They had a combined LNG carrying capacity of 104 bill cu ft, according to shipping data provided by Bloomberg Finance to the US Energy Information Administration (EIA).

Excelerate Energy has signed an agreement with Petrobras to install a reliquefaction unit on the FSRU ‘Experience’, moored in Guanabara Bay, Brazil.

The reliquefaction unit is expected to be installed during her next planned drydocking.

Once fitted, this technology will help eliminate all excess cargo losses, due to boil off (BOG, and lower Scope 1 emissions) – delivering environmental and economic value for both partners, Excelerate said.

Yesterday, the European Parliament finally signed the deal to loosen the EU’s rules on filling gas storage, following concerns that earlier rules risked inflating energy prices.

Parliament approved the deal its negotiators struck with EU countries last week, which will soften the EU’s target to fill storage to 90% capacity by 1^st November.

The agreement now needs final formal approval from EU countries before it can pass into law – a step which is usually a formality that waves through the pre-agreed deal with no changes.

US FSRU owner and operator, Excelerate Energy has floated out its newbuilding FSRU, Hull 3407, at HD Hyundai Heavy Industries shipyard in South Korea.

The company said that this signalled the floating LNG terminal’s structural completion and brings her one step closer to her expected delivery next year.

Hull 3407 is a 1 bill cu ft natural gas per day capacity FSRU, able to store 170,000 cu m of LNG.

She will be fitted with dual-fuel diesel-electric engines, and advanced emissions-reduction systems.

Samsung Heavy Industries (SHI) has secured a contract for an FLNG.

Another contract related to the FLNG for the northern Coral gas field in Mozambique is likely to follow, South Korean media said.

SHI announced that it had signed a contract for ‘preparatory work prior to the main contract for offshore production facilities’ with owners in the African region at a value of Won869.4 bill.

The Mozambique government is promoting the Coral northern gas field project, a deepsea gas development being developed in block 4 in Mozambique. It is expected to be operational from the second quarter of 2028.

An SHI representative said; “Interest in energy security has been rising since the Russia/Ukraine conflict, and investments in offshore production facilities are expected to steadily increase due to changes in US energy policy.

“We plan to secure one to two units each year, focusing on projects scheduled for ordering,” the official said.

Working gas storage in the contiguous US totalled 2,953 bill cu ft in the week ending 27^th June, a net increase of 55 bill cu ft from the previous week, the US Energy Information Administration (EIA) said in a report.

The total working gas storage declined by 5.6% from the same time last year, but was up by 6.2% from the five-year average, according to the EIA’s Weekly Natural Gas Storage Report.

The storage of US working gas usually tends to decrease in November and continues to drop in April when the heating season ends, according to previous data.

Working gas is defined as the amount of natural gas stored underground that can be withdrawn for use. Its storage capacity can be measured in two ways: design capacity and demonstrated maximum working gas capacity.

The contiguous US consists of the country’s 48 adjoining states plus the District of Columbia, and excludes the non-contiguous states of Alaska and Hawaii and all offshore insular areas. 

US Golden Pass LNG, which is being jointly developed by ExxonMobil and QatarEnergy, has asked US regulators for permission to re-export an LNG cargo from 1^st October.

The company said it wants to re-export the cargo that it plans to import to cool down its Texas export plant, which is still under construction.

Golden Pass is developing an 18 mill tonnes per annum LNG export facility in Sabine Pass, Texas, and plans to start exporting LNG later this year.

The project has been beset with problems and is behind schedule and over budget.

In March, 2024, its then-lead contractor, Zachry Holdings, filed for bankruptcy and claimed that the project was running at least $2.4 bill over the original budget.

Zachry was replaced by McDermott International as lead contractor for Train 1. The company has been in negotiations to take over the construction of the project’s other two trains.

Golden Pass could become the ninth US LNG exporter once it comes on line.

South Korean engineering and construction company, POSCO E&S has won a Won1.5 trill ($1.1 bill) contract to build Thailand’s first public/private LNG terminal.

The Map Ta Phut (MTP) LNG terminal project is being jointly commissioned by Gulf Development, a major Thai private energy investor, and PTT Tank Terminal, a subsidiary of PTT, Thailand’s largest state-owned energy company.

The LNG import terminal will be located in the Map Ta Phut industrial estate, about 130 km from Bangkok.

Under the terms of the contract, POSCO E&C will build two 250,000 cu m LNG storage tanks, unloading facilities and regasification equipment capable of handling 8 mill tonnes of LNG per annum.

The company has completed more than 20 petrochemical, oil, gas and power plant projects in Thailand since 2002.

“This contract demonstrates our technological capabilities in LNG terminal construction,” said a POSCO E&C in a statement. “We will continue to expand into global markets, leveraging POSCO Group’s LNG business expertise.