Japanese power producer Jera said this week that it has signed multiple long-term LNG supply agreements with US partners over the past two months, to procure up to 5.5mn t/yr over 20 years. This includes 2mn t/yr from NextDecade and 1mn t/yr from Commonwealth LNG. It also signed non-binding interim agreements with Sempra Infrastructure for 1.5mn t/yr and with developer Cheniere for 1mn t/yr. The deals offer competitive pricing and flexible contract terms. All supply will be delivered on a fob basis priced against the US' Henry Hub, allowing Jera to optimise shipping routes and respond flexibly to domestic demand and market conditions, the company said.
Related news posts
Trump threatens 35pc tariff on Canada by 1 August
Trump threatens 35pc tariff on Canada by 1 August
Houston, 10 July (Argus) — The US will impose a 35pc tariff on all imports from Canada effective on 1 August, President Donald Trump said in a letter to Canadian prime minister Mark Carney. The 10 July letter that Trump posted on social media late Thursday noted that Canada previously planned retaliatory tariffs in response to the US' first tariff threats in the spring. He repeated his earliest justification for the tariffs - the illegal smuggling of fentanyl into the US from Canada - and said he would consider "an adjustment" to the tariffs if Canada worked with him to stop that flow. The 35pc tariff would be separate from tariffs set for specific sectors, which include a 50pc tariff on copper imports . It is not clear if any imports currently covered by the US-Mexico- Canada trade agreement (USMCA) would be affected by the new tariff threats. The Trump administration since 5 April has been charging a 10pc extra "Liberation Day" tariff on most imports — energy commodities and critical minerals are exceptions — from nearly every foreign trade partner. Trump on 9 April imposed even higher tariffs on key trading partners, only to delay them the same day until 9 July. On 7 July, Trump signed an executive order further delaying the implementation of higher rates until 12:01am ET (04:01 GMT) on 1 August. Earlier this week he threatened 50pc tariffs against Brazil for its ongoing criminal prosecution of former president Jair Bolsonaro. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
EQT to report $720mn gain on gas derivatives
EQT to report $720mn gain on gas derivatives
New York, 10 July (Argus) — US natural gas producer EQT expects to report a $720mn gain on its derivative contracts for the second quarter of 2025, more than wiping out the $679mn derivatives loss it reported in the first quarter, the company said Thursday in a regulatory filing. EQT, the second-largest US gas producer by volume, as of 16 April had 3.7 Bcf/d of its second-quarter gas output covered by derivatives, according to a financial disclosure on its website. This is equivalent to more than half of its total production capacity. Prices for those volumes appear to have been locked in before 19 July 2024, as the company had 3.7 Bcf/d hedged by that date. The derivatives gain reflects a drop in US gas prices in recent months as resilient production flipped US gas inventories from undersupply at the end of winter to oversupply in recent months. US gas inventories at the end of February were at a 224 Bcf deficit to the five-year average, according to the US Energy Information Administration. After a string of weekly storage reports showing very large net injections into storage, suggesting producers had returned wells to production that had previously been sidelined by last year's lower prices, inventories last week were at a 173 Bcf surplus, or 6.1pc higher than the five-year average. EQT plans to hedge less of its output going forward, in part because it has increased the amount of gas it can move to consumers outside of its core operating area in Appalachia, where gas prices are comparatively low. The company would need to have "conviction" on its US gas price outlook for it to raise its hedged volumes to even 50pc, which would be "a limit," EQT chief executive told Argus in an interview in June. EQT lost about $8bn on derivatives in the 2020-2022 period, in part from a US gas price spike in 2022 which EQT and other producers were not fully able to exploit as they had already locked in sales at lower prices. EQT plans to release full first-quarter financial results after US market close on 22 July. EQT reported a $242mn profit in 2024, down from $1.74bn in 2023. By Julian Hast Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Q&A: Titan on the future of LNG and bio-LNG bunkering
Q&A: Titan on the future of LNG and bio-LNG bunkering
London, 10 July (Argus) — Titan is a leading supplier of LNG and bio-LNG as a bunker fuel, mostly supplying volumes in northwest Europe. Argus spoke to Titan's commercial director, Michael Schaap, about the future of LNG and bio-LNG bunkering. How has the demand for LNG as a marine fuel evolved over the past year, and what factors are driving this growth besides FuelEU Maritime? Demand for LNG as a marine fuel has grown significantly over the past year, driven not only by regulatory developments like FuelEU Maritime but also by the growth of the LNG dual-fuel fleet. According to DNV's Alternative Fuels Insights platform, 642 LNG-powered vessels are currently in operation, excluding LNG carriers. Of these, 169 were delivered in 2024, setting a record. The growth in demand is expected to continue — 264 new orders for LNG-fuelled vessels were placed in 2024, also a record and more than double the number of orders placed in 2023. Essentially, the total addressable market for LNG pathway fuels in 2028 will be enormous. The LNG pathway uses LNG (and its established infrastructure), bio-LNG and e-methane (derived from renewable hydrogen). All of these fuels can be blended at any ratio and ‘dropped into' infrastructure and vessels with little to no modification required. It is increasingly recognised as a practical route to take the shipping industry to net zero greenhouse gas emissions. What are the current challenges in scaling LNG bunkering infrastructure to meet the needs of the growing fleet of LNG dual-fuel vessels? A key challenge is ensuring timely investment in bunkering infrastructure to keep pace with the growing number of LNG-fuelled vessels. Take LNG bunkering vessels, for example. According to the DNV, about 64 LNG bunkering vessels are in operation worldwide today, with a further 16 on order. While this far exceeds other alternative fuels, continued investment and expansion will be important. To maintain safe, timely and efficient LNG deliveries that meet demand, it is also important to maintain a suitable number of LNG loading slots. The increased demand for LNG and bio-LNG could alter the dynamics between buyers and sellers in the market. The spot market may become more challenging and expensive for shipowners and operators going forwards. As a result, those that can plan should book capacity well in advance and sign long-term offtake agreements. A good balance of pre-booked business also allows suppliers to reinvest in infrastructure such as bunkering vessels, shifting the market back towards the buyers. Where is Titan looking to expand — beyond northwest Europe? Titan supplies and bunkers LNG and increasingly bio-LNG around the world, partnering with local companies to support if needed. Titan's base, the Zara (Zeebrugge, Amsterdam, Rotterdam, Antwerp) region, is a key hub for LNG, bio-LNG and in the future, e-methane bunkering, and this is not expected to change. Having said this, the Mediterranean is recognised as a key strategic market for expansion. The Mediterranean became an Emission Control Area (ECA) on 1 May, so we expect this to escalate the need for LNG and bio-LNG in the region. Compared with heavy fuel oil, LNG pathway fuels can reduce nitrogen oxide emissions by up to 80pc and almost eliminate sulphur oxide and particulate matter emissions, offering ECA compliance. How is Titan positioning itself to meet the expected boom in bio-LNG demand growth over the coming years and decades? Titan is leading the way in supplying bio-LNG. We have been bunkering nearly all of [Norwegian shipping line] UECC's LNG-powered car carriers with bio-LNG since mid-2024, offering over-compliance with FuelEU Maritime, which presents financial rewards through pooling or banking. The partnership has now been extended through 2025. In 2024, we completed the world's largest ship-to-ship bio-LNG bunkering. We bunkered 2,200t of mass balanced bio-LNG to a Hapag-Lloyd containership in Rotterdam. The bio-LNG was ISSC-certified and recognised under the EU's Renewable Energy Directive known as Red II, marking a major milestone in the clean marine fuels transition. Going forwards, we hope to continue pioneering bio-LNG bunkering across more ports, and we feel it is important for us to further scale our bio-LNG offering as customers increasingly look to focus on regulatory compliance. We will also continue to closely monitor demand and supply signals for other clean marine fuels and will implement them into our portfolio as necessary. What do you see as the main challenges to bio-LNG growth, both in Europe and globally? High production costs remain a challenge for bio-LNG, but processes such as mass balancing are helping to lower supply-side costs. Mass balancing is a system in which biomethane is injected into the gas network and transported to liquefaction plants and LNG terminals using the existing infrastructure. It is expected to feature on many alternative fuel pathways and is a practical way of delivering clean molecules. The best analogy is when domestic energy companies provide consumers with renewable energy in a very similar way. Co-ordinated and consistent public-sector support for biomethane production will also support continued growth in the sector. The EU REPowerEU plan has ambitious biomethane usage targets of 35bn m³ by 2030. In 2023, the EU produced 22bn m³ of biogas, with biomethane being a key component. There is still plenty of work to do. Public-sector support is not only in the interest of end-users, but also of governments. This is because bio-LNG provides energy security, reducing dependency on any other nation's gas supplies. Bio-LNG can be produced locally, anywhere where waste feedstocks are available. At a time of geopolitical instability, the independence and resilience that lots of smaller suppliers can offer is a powerful incentive to invest. Gas prices have been very volatile since the start of this decade. Do you see this as a limiting factor to LNG and bio-LNG bunkering growth? While price fluctuations are a consideration, they do not fundamentally limit growth. LNG and bio-LNG remain cost-competitive compared with other alternative fuels. As LNG and bio-LNG are produced differently, factors that affect the price of one will not necessarily affect the other. To mitigate against market volatility, building in optionality is key. Shipowners and operators have this through their dual-fuel engines, switching to fuel oil if needed. Our bunkering assets are similarly flexible. Using our specialist skill set, we are also open to delivering any fuel that can substantially decarbonise shipping, which will further diversify our operations and build resilience. By Martin Senior and Natalia Coelho Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
LNG imports feasible, New Zealand utilities say
LNG imports feasible, New Zealand utilities say
Sydney, 10 July (Argus) — Importing LNG to cover New Zealand's shortfall of gas is technically feasible but more challenging than expected, according to two new reports commissioned by five energy companies. Conventional-scale LNG imports would help meet power demand in years when hydroelectric inflows are low, but the total cost to end users is estimated at NZ$170-210mn/yr ($102-126mn/yr) including costs of $10.12-10.37/MMBtu on a landed basis — or approximately NZ$17.83-18.27/GJ, based on a forward exchange rate of NZ$1.67:$1 — according to reports sponsored by New Zealand utilities Clarus, Contact Energy, Genesis Energy, Meridian Energy, and Mercury. Major works to establish infrastructure such as port or pipeline upgrades have been estimated at NZ$190mn-1bn, a level of investment that holds risks given uncertainty about the country's future energy mix and need for imports. Smaller-scale options using existing ports and involving imports from Australia via 15,000m³ vessels could provide an additional 7-10 PJ/yr (187mn-267mn m³/yr) or about one month's supply, but this could cost 25pc more than the large-scale option at about $11.41-11.92/MMBtu, or NZ$20.10-21/GJ . Smaller-scale LNG infrastructure capital costs could be NZ$140mn-295mn, but securing offtake and a solution for storing imported LNG would need to be finalised first, the study said. New Zealand's gas supply has plummeted after years of underinvestment in the Taranaki basin, the country's main source. Just 25.93PJ was produced in January-March, down by 19pc on the year, according to government data. High prices are impacting the production of fertilizers and other industries . Wellington is looking to lure upstream producers via a NZ$200mn co-investment to buy stakes in new gas fields, while also working towards potential LNG import plans . By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Business intelligence reports
Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.
Learn more