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
25 July 2025
KRG, Iraq’s central government and Turkey are all working to get exports flowing from the key port, but complications remain
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
