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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IRGC widens Hormuz into ‘vast operational area’
IRGC widens Hormuz into ‘vast operational area’
Dubai, 12 May (Argus) — Iran's Islamic Revolutionary Guard Corps (IRGC) said on Tuesday it has widened its definition of the strait of Hormuz into a "vast operational area", extending it from the coast of Jask to Siri Island. The move broadens the area the IRGC says falls under its Hormuz operations beyond the narrow strait itself, through which around a fifth of global oil supply transited before the US-Iran war began. In a statement carried by Iranian state media, Mohammad Akbarzadeh, deputy political director of the IRGC Navy, said the strait of Hormuz had previously been "defined as a limited area around the Hormuz and Hengam islands", but that definition has now changed. "Within our new framework, the area of the strait of Hormuz has been significantly expanded, and today it extends beyond the large islands, from the coast of Jask to Siri Island." Iran's Siri Island lies in the Mideast Gulf around 70km west of the UAE emirate of Umm al-Quwain. The port of Jask is on Iran's southern coast, east of the strait of Hormuz. Akbarzadeh said the area had expanded from 20-30 miles previously to more than 200-300 miles. He described the new footprint as "a complete crescent". This is the second expansion the IRGC has announced since war with the US and Israel prompted Iran to effectively close the strait. On 4 May, the IRGC published two maps showing an expanded area it said was "under its management and control". The outlined area extended from the western tip of Iran's Qeshm Island in the Mideast Gulf to Umm al-Quwain west of the strait, and to Kuh Mobarak in southern Iran and the UAE emirate of Fujairah east of the strait. The area outlined on Tuesday by the IRGC Navy extends beyond the borders shown in the 4 May maps. The new definition comes as tensions between Iran and the US grow over the continued disruption of shipping. US president Donald Trump has repeatedly claimed agreements with Iran that he said should restore at least some traffic through the strait. But little has changed since the war began, prompting the US to impose a blockade of its own on vessels travelling to and from Iranian ports last month. Washington and Tehran have been exchanging proposals in recent weeks aimed at ending the conflict, but prospects for a breakthrough appear remote. Trump on Monday described Iran's latest offer as a "piece of garbage" and warned that the ceasefire, in place since 8 April, is under strain. By Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia’s Ichthys LNG workers plan May strike action
Australia’s Ichthys LNG workers plan May strike action
Sydney, 12 May (Argus) — Staff at Australia's 9.3mn t/yr Ichthys LNG terminal operated by Japanese firm Inpex have voted to begin protected industrial action (PIA) as early as next week, the Offshore Alliance (OA) union said today, citing unresolved pay dispute issues. Strike action was authorised by a vote of unionised staff last month but the OA offered to suspend strikes until the end of enterprise bargaining meetings facilitated by Australia's Fair Work Commission (FWC), the industrial dispute arbiter. But members last night voted unanimously to serve notice of strikes after the next FWC-brokered meeting on 15 May to force resolution of the issues, the OA said on 12 May, citing outstanding concerns despite recent talks, which it said made more progress in one day than the past six months. The upcoming meeting on 15 May will be the sixth since 24 April when the OA members at Ichthys first endorsed strikes at the project. It has become clear to the union that PIA was now needed to get certain issues sorted, the OA said, without clarifying the nature of the impasse between the sides. Potential supply disruptions would likely be limited at first, with the largely manageable PIA taking the form of hour-long pauses and refusal of certain shift handovers, as well as other disruptive actions. The minimum notice period for commencing PIA is three working days, according to the FWC. But escalations have affected output in the past, such as during a strike at Shell's 3.6mn t/yr Prelude floating LNG offshore Western Australia in June-September 2022, and PIA at Chevron's 15.6mn t/yr Gorgon LNG in September-October 2023 where some flaring of gas occurred . By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US' Golden Pass LNG exports second cargo
US' Golden Pass LNG exports second cargo
Houston, 11 May (Argus) — Golden Pass LNG exported its second cargo on 9 May as it ramps up the 18.1mn t/yr (2.4bn ft³/d) export terminal in southeast Texas. The ExxonMobil-operated 174,000m³ HL Sea Eagle left the facility on 9 May with a 76,000t cargo bound for Asia, 17 days after the QatarEnergy-operated Al Qaiyyah departed with the first export, Kpler ship-tracking data show. The Al Qaiyyah arrived on 8 May at Belgium's 12.4mn t/yr Zeebrugge import terminal, where QatarEnergy holds long-term regasification capacity. A commissioning terminal's second export is often more indicative of production rates than the first because the first shipment typically includes a partial re-export of the facility's imported cool-down cargo. Golden Pass, a joint venture between QatarEnergy and ExxonMobil, also received a record 412mn ft³ of feedgas on 8 May, pipeline data show, equal to roughly half of train 1's capacity. Flows have since retreated slightly, averaging 365mn ft³/d over the weekend. The terminal was nominated to receive 250mn ft³ on 11 May, but shippers can revise pipeline nominations throughout the day. ExxonMobil said the project is targeting "mechanical completion" of the second of three trains in the fourth quarter, with the final train due to be mechanically complete by the second quarter of next year. The company did not give a timeframe for when it expects first production or exports from the terminal's remaining trains but said in 2024 that each train would come into service in six-month intervals. By Tray Swanson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Iran says its response to US 'reasonable, generous'
Iran says its response to US 'reasonable, generous'
Dubai, 11 May (Argus) — Iran's foreign ministry said on Monday that Tehran's response to the latest US proposal to end the war was "reasonable" and "generous," pushing back against US president Donald Trump's characterisation of it as "totally unacceptable." "Is our proposal for safe passage through the strait of Hormuz excessive? Is an important issue like re-establishing security and peace in the region, an irresponsible demand?" foreign ministry spokesman Esmail Baghaei asked, rhetorically. "All we proposed were reasonable and responsible demands, and generous proposals, not only for Iran's national interests, but also for the good, stability and security of the region and the world," he said. Trump overnight labelled the Iranian position as "totally unacceptable," dashing hopes of an imminent conclusion to the conflict. Crude futures rose sharply in early trading today, with the front-month July Ice Brent contract hitting an intraday peak of $105.99/bl before coming off to trade just below $104/bl. Trump last week said a peace deal under discussion with Iran would reopen the strait of Hormuz to navigation and lift the US blockade on Iranian trade. Baghaei today said the US' conditions continue to be "one-sided… and unreasonable". The US has been highlighting the reopening of the strait of Hormuz, and a shuttering of Iran's nuclear capabilities, as its top conditions to bring the war to an end. Washington is looking for Iran to put an end to its nuclear enrichment activities, and to hand over its stocks of around 400kg of highly-enriched uranium. But Iran's priorities to end the war lie elsewhere, which has been complicating the diplomatic track. "At this stage, our focus is on what is urgent," Baghaei said. "And what is urgent is ending the war in all its forms, including Lebanon and ensuring the safety and security of navigation through the [Mideast] Gulf and the strait of Hormuz… which includes stopping the illegal actions of the US against commercial ships." "What decisions we make on the nuclear issue, on Iran's [highly enriched] materials and on issues related to enrichment activities is something we will discuss when the time is right," Baghaei said. By Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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