Nearly all of the post-Ukraine LNG deals are being sold by North American exporters
Portfolio players roar into post-Ukraine invasion LNG contracting lead
Three deals boost the share of volumes going into global books
Shell, US superindie ConocoPhillips and trading house Vitol have secured access to 9.1mn t/yr of North American LNG offtake for their portfolios in July. And this means that—in a bonanza of SPAs and preliminary, less-binding deals sparked by concerns over gas supplies in the wake of Russia’s Ukraine invasion that has now topped 46mn t/yr—portfolio players have hoovered up 21.85mn t/yr, or 47.5pc of total volumes (see Fig.1). The biggest deal is ConocoPhillips’ heads of agreement (HoA) with US infrastructure firm Sempra to acquire a 30pc equity holding in the Port Arthur LNG project in Texas and c.5mn t/yr of LNG offtake for 20 years. The superindie will supply the gas, and potentially more,
Also in this section
2 May 2025
Fast-tracking US project approvals and increased trade pressures have already changed the LNG landscape since Trump came to office, with further transformation ahead
2 May 2025
Peru’s state-owned hydrocarbons agency has launched the search for new investors for Offshore Block Z-69, a high-potential asset in the prolific Talara Basin.
2 May 2025
The scars of the Russia crisis have accelerated Europe’s push to wean itself off gas dependence as the growing globalisation of LNG becomes a double-edged sword
1 May 2025
The NOC’s dire financial situation and maturing fields have left the authorities with little choice but to reduce crude expectations
