LNG
Overview
LNG's role as a key feedstock is well established as it helps manage both input costs and carbon emissions. Heavy industrial users' drive to achieve net zero targets has added a new dimension to how and where it is being deployed. Overall, its use is expected to increase and is tipped to become the strongest-growing fossil fuel.
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Trump pauses US plan to force Hormuz open
Trump pauses US plan to force Hormuz open
Washington, 5 May (Argus) — President Donald Trump said late Tuesday he will "pause" the US military mission to facilitate the exit of stranded vessels through the strait of Hormuz. Trump cited a request from Pakistan, unnamed other countries and "the fact that Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran" among the reasons behind his decision to pause the "Project Freedom" mission, launched only a day earlier. But the US military effort, which allowed only two US-flagged vessels to exit the Mideast Gulf, has run into stiff resistance from Tehran. The US and Iran exchanged fire on Monday, with Iran launching missiles targeting US warships transiting Hormuz while the US destroyed six Iranian naval boats. Iran also targeted the port of Fujairah in the UAE. At least three vessels came under attack in the vicinity or in the strait of Hormuz in recent days, including a cargo vessel transiting the strait on Tuesday, according to the UK Maritime Trade Operations agency. Trump announced the decision to pause the Project Freedom mission only hours after senior US military officials and US secretary of state Marco Rubio cast it as a first step toward forcing Tehran to give up its control over Hormuz. Defense secretary Pete Hegseth went as far as to claim that the first day of US military operations already established safe passage for ships looking to transit through Hormuz. Iran "said they control the strait," Hegseth said, adding that "They do not." Trump cast the pause in Project Freedom as a "mutual decision" — presumably with Tehran — and said that the pause would last "for a short period of time to see whether or not the Agreement can be finalized and signed." Tehran did not immediately react to Trump's announcement. Tehran earlier on Tuesday said it would require all ships seeking to pass through Hormuz to obtain a transit permit from a newly created agency, "the Persian Gulf Strait Authority", according to Iran's state TV broadcaster. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US, Iran vie for control of Hormuz: Update
US, Iran vie for control of Hormuz: Update
Updates with details throughout Washington, 5 May (Argus) — The US and Iran have each announced measures designed to challenge the other's claims of controlling navigation through the strait of Hormuz, where commercial traffic remains at a fraction of pre-war levels. The Pentagon, which on Monday launched a military mission to facilitate the exit of stranded vessels from the Mideast Gulf, has advised vessels transiting Hormuz to travel through Omani territorial waters, according to a notice from the US-led Joint Maritime Information Center. Tehran on Tuesday issued a requirement for ships seeking to pass through Hormuz to obtain a transit permit from a newly created agency, "the Persian Gulf Strait Authority", according to Iran's state TV broadcaster. Iran since March has required ships to transit Hormuz via a route close to its coastline, with many ships either paying an unofficial toll or making other arrangements with the Iranian authorities. The competing claims over control over navigation through Hormuz have led maritime associations to warn that risks to shipping in the strait of Hormuz remain elevated. A total of 19 vessels left the Mideast Gulf through Hormuz in the last two weeks. At least three vessels came under attack in the vicinity or in the strait of Hormuz in recent days, including a cargo vessel transiting the strait on Tuesday, according to the UK Maritime Trade Operations agency. The US mission to challenge Iran's control over the strait of Hormuz, launched on Monday, enabled two US-flagged vessels to leave the Mideast Gulf, according to the Pentagon. "We have established a powerful red, white and blue dome over the strait," US defense secretary Pete Hegseth said at a briefing on Tuesday. "We know the Iranians are embarrassed by this fact. They said they control the strait. They do not." Tehran announced the new requirement for a transit permit for ships attempting passage through Hormuz after Hegseth's remarks. Iran's Islamic Revolutionary Guard Corps (IRGC) on Monday published a new map of the strait of Hormuz illustrating the area that it says is "under the management and control" of Iran's armed forces, which would challenge the US-recommended route for Hormuz transit. A 'defensive operation' President Donald Trump's administration launched its "Project Freedom" mission on Monday to facilitate the exit of ships stranded in the Mideast Gulf after the US-Israel war against Iran began on 28 February. The operation is "defensive in nature", US secretary of state Marco Rubio said on Tuesday, which he said means "there's no shooting unless we're shot at first". The US and Iran already exchanged fire on Monday, with Iran launching missiles targeting US warships transiting Hormuz while the US destroyed six Iranian naval boats. The ongoing US naval blockade of Iranian trade is not an act of war, either, Rubio said. "We have a blockade because they shut down the strait," he said. There are 1,550 vessels and 22,500 mariners stranded in the Mideast Gulf, Joint Chiefs of Staff chairman, General Dan Caine said on Tuesday. "At least 10 sailors have already died as a result," Rubio said, noting that "they're isolated (and) they're starving". Characterizing the US military operations as defensive at least partly reflects the Trump administration's effort to sidestep a statute designed to limit the president's authority to wage war without congressional approval. The US's Project Freedom operation is temporary, and the Pentagon is looking to quickly hand over responsibility for the mission to other countries, Hegseth said. "Operation Epic Fury has concluded, and we achieved the objectives of that operation," Rubio said, referencing the US designation for the military attack against Iran before a ceasefire took effect on 7 April. But Hegseth and Rubio have left little doubt that the US plans to force open the strait of Hormuz. Project Freedom "is the first step towards reopening the strait and bringing (Iran's) last-ditch active economic arson to a close", Rubio said. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Methane emission cuts could boost energy security: IEA
Methane emission cuts could boost energy security: IEA
London, 5 May (Argus) — Cutting methane leaks and routine flaring could unlock significant volumes of gas to alleviate pressure on a tight global LNG balance, according to the International Energy Agency's (IEA) methane tracker published on Monday. The effective closure of the strait of Hormuz since 28 February has shut in around a fifth of the world's LNG supply, with the IEA estimating 110bn m³ of gas passing through the waterway in 2025. But the agency suggests that roughly double the amount of gas trapped in the Mideast Gulf could be replaced by cutting methane emissions, which has the potential to relieve pressure on the tight global LNG market. The organisation indicates that large volumes of gas output are being wasted because of methane leaks, flaring and venting from oil and gas operations. And it estimates that around 100bn m³ of gas could be made available through a global effort to cut methane emissions from oil and gas operations, as well as an additional 100bn m³ through the elimination of non-emergency flaring. Deployment of infrastructure to achieve such large cuts would take time, but the IEA said that immediate measures across global upstream and downstream operations could relieve gas markets by nearly 15bn m³ in the short term. The report identifies the primary exporting countries with scope to create additional gas supply as Turkmenistan, Algeria and Nigeria, while Asia is the main importing region where gas losses could be prevented ( see graphs ). The agency also projects that around 30pc of all methane emissions tied to fossil fuels — more than 35mn t/yr — could be removed at no net cost, based on average energy prices in 2025. Required capital for abatement is lower than the market value of the gas captured to be sold or used, the IEA said. And the gap could grow as a result of the rise in prices cause by the war in the Middle East, according to the organisation. No sign of progress The IEA found that methane emissions tied to fossil fuels edged up on the year in 2025, indicating no progress towards targets. Output from the fossil fuel sector — including oil, natural gas, coal and bioenergy — reach record highs in 2025 and methane emissions from these activities totalled 124mn t. This is up from roughly 120mn t in 2024 . Oil production emitted the highest volume of methane at around 45mn t, coal closely following with 43mn t while emissions from gas output were 36mn t. And around 70pc of fossil-fuel methane emissions came from only 10 countries, with China, the US and Russia the leading emitters ( see graph ). Existing policies and regulations for global abatement will only cut energy-sector methane emissions by 20pc by 2030 and 26pc by 2035. This is short of the global methane pledge reduction target of a 30pc cut by 2030. By Iris Petrillo Potential additional gas supply from abatement of methane emissions in importing countries bn m³ Potential additional gas supply from abatement of methane emissions in exporting countries bn m³ Fossil-fuel methane emissions by country kt Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US' Hormuz operation is 'temporary': Pentagon
US' Hormuz operation is 'temporary': Pentagon
Washington, 5 May (Argus) — The US military operation to facilitate the exit of stranded vessels from the Mideast Gulf is temporary, and the Pentagon is looking to quickly hand over responsibility for the mission to other countries, senior US military officials said on Tuesday. The US mission to challenge Iran's control over the strait of Hormuz, launched on Monday, enabled two US-flagged vessels to leave the Mideast Gulf, according to the Pentagon. But the operation, dubbed Project Freedom, sparked an exchange of fire between US and Iranian forces, along with drone and missile attacks from Iran on the UAE port of Fujairah and ships off the emirate's coast. The US operation is "temporary in duration", defense secretary Pete Hegseth said at a briefing on Tuesday. "We're stabilizing the situation so commerce can flow again, but we expect the world to step up at the appropriate time, and soon we will hand responsibility back to you". Shipping associations have warned that risks to shipping in the strait of Hormuz remain elevated despite the US' military operation. But Hegseth cast the first day of the operation as successful. "We have established a powerful red, white and blue dome over the strait," he said. "We know the Iranians are embarrassed by this fact. They said they control the strait. They do not." But Tehran also appears to be viewing the results of the military engagement in the strait on Monday as successful. "The new equation of the strait of Hormuz is in the process of being solidified," Iran's parliamentary speaker Mohammed Bagher Ghalibaf posted on social media on Tuesday. "Events in Hormuz make clear that there's no military solution to a political crisis," Iran's foreign minister Abbas Araghchi said on Monday, warning the US and the UAE to be "wary of being dragged back into quagmire". The US and Iran agreed to a ceasefire on 7 April, and that halt to hostilities officially remains in effect, Joint Chiefs of Staff chairman, General Dan Caine said at the briefing. But the ceasefire did not stop Iran from firing missiles and drones at US warships on Monday, while the US destroyed six Iranian naval boats. Iran's attacks on US warships, commercial ships and targets in the UAE in the past month are "all below the threshold of restarting major combat operations at this point", Caine said. But he added: "The threshold of restarting (the war) is a political decision above my pay grade." Hormuz has remained largely closed to navigation for almost two months. The US since 13 April has been conducting a naval blockade, forcing vessels departing Iranian ports to turn back. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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