Commonwealth LNG seeks extension to build terminal

Spanish Market: Natural gas
03/10/25

US gas and LNG producer Caturus has requested four additional years to build and place into service its planned 9.5mn t/yr (1.27bn ft³/d) Commonwealth LNG facility in Louisiana.

Commonwealth LNG's construction permit with the Federal Energy Regulatory Commission (FERC) expires on 17 November 2027, but the project's developers say former President Joe Biden's moratorium on issuing a key export license in 2024 delayed the terminal's development timeline. The company is now requesting a deadline of 31 December 2031 to build and place the export plant's six liquefaction trains in service.

The moratorium ended when Commonwealth received a conditional license in February to export to countries that do not have free trade agreements with US (non-FTA), weeks after President Donald Trump took office and pledged support to the US LNG industry. Commonwealth received its final non-FTA license in August.

In the extension request on 2 October, Commonwealth also cited a court's 2024 order calling for a review of the project's environmental impact. Commonwealth received a final environmental approval earlier this year.

Caturus is a partnership of US energy asset manager Kimmeridge, which holds 75.9pc equity interest, and Abu Dhabi's Mubadala, which owns the remaining 24.1pc.

The company expects to reach a final investment decision on the project by the end of 2025.

By Tray Swanson

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05/06/26

African Energy Bank schedules September start

Lagos, 5 June (Argus) — The African Energy Bank (AEB) is scheduled to launch in September, promoter African Petroleum Producers' Organisation (Appo) has said. Appo secretary general Farid Ghezali acknowledged "several postponements" but said the new deadline is "to make the bank operational in September 2026 in view of the incompressible deadlines from an administrative point of view". A planned April start was pushed back to this month before Appo members were again mobilised around a third-quarter deadline. Ghezali called on Appo members to redeem their pledges towards the $500mn start-up capital before the end of June. A source told Argus in May that 91pc of this had been raised and that Nigeria's state-owned NNPC and local content regulator NCDMB would make up the balance. The latter, which sits on Appo's board, said earlier this week that Nigeria remains committed to AEB's "formal commencement of operations", but provided no specifics. Ghezali said AEB aims to reverse the situation that sees Africa importing more than 60pc of its oil products consumption and producing only 12pc of global upstream liquids while being home to many of the world's largest national oil and gas reserves. NCDMB said AEB will achieve its aim by "mobilising private-sector funds for energy projects across the continent". Ghezali said the bank will target the financing of 20–30 LNG, petroleum products pipeline, terminals and refining projects by 2030. Projects that monetise natural gas as a transition fuel will take up 40pc of AEB's loan book and the priority will be given to projects that contribute towards the creation of "500,000–1mn direct and indirect jobs in the energy value chain". But even with the September start, Ghezali said AEB loan-making will only "open at the end of 2026". AEB will be based in Abuja, Nigeria. By Adebiyi Olusolape Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Delfin greenlights first US floating LNG terminal

03/06/26

Delfin greenlights first US floating LNG terminal

Houston, 3 June (Argus) — Delfin Midstream is moving forward with its first 4.4mn t/yr (600mn ft³/d) floating LNG export unit (FLNG) off the coast of southwest Louisiana after finalizing $5bn of investments, the company announced today. Delfin's deepwater port project, which is authorized to host 13.2mn t/yr of export capacity about 45 miles off the coast of Cameron Parish, will be the first FLNG facility in the US. The first unit is targeted to begin producing LNG in 2030 before starting commercial operations — the point at which it begins serving its long-term customers — in the first half of 2031. The investment group behind the final investment decision includes the BlackRock-backed Global Infrastructure Partners, Mitsui OSK Lines, Vitol and Diameter Capital Partners. Delfin plans to decide on its proposed second and third FLNG units, each of which would also have 4.4mn t/yr of capacity, over the next year. The project has sold 3.55mn t/yr of capacity under binding, long-term contracts, according to filings with the US Department of Energy (DOE). Its contracts cover 1.15mn t/yr to US gas producer Expand Energy, 1mn t/yr to UK utility Centrica, 900,000 t/yr to Swiss trader Gunvor and 500,000 t/yr to Vitol. The project also had a 600,000 t/yr deal with Hartree, but the two firms terminated the deal in late April, according to a DOE filing on 29 May. Delfin also signed a 1mn t/yr agreement with Vitol last November, which will deliver to the UAE's International Resources Holding under a long-term contract. The volumes are in addition to Vitol's first deal with Delfin, a Vitol spokesperson told Argus in November, but it is unclear if they are linked to Vitol's investment in the FLNG unit. The second Vitol deal is not listed among Delfin's customer filings with DOE, which typically requires projects to submit long-term, binding contracts within 30 days of being signed. Additionally, Delfin signed a non-binding agreement in March 2025 to supply 1.5mn t/yr to Germany's Securing Energy for Europe. Delfin intended to decide on the first FLNG unit last November but pushed back the decision as it sought investors. The project also faced a setback in February when part of its onshore pipeline network exploded as Delfin underwent maintenance to restart the long-mothballed line. US LNG developers have now launched construction for 21.7mn t/yr of capacity this year. This comes after developers greenlit about 67.2mn t/yr of new capacity in 2025. One other project, Glenfarne's 4mn t/yr Texas LNG project in south Texas, plans to make an investment decision by the end of June. By Tray Swanson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

US-China 'board of trade' development begins

03/06/26

US-China 'board of trade' development begins

Washington, 3 June (Argus) — US trade officials have started seeking public comments on how to organize a joint US-China panel to promote trade between the countries by eliminating or lowering tariffs. Following the meeting between President Donald Trump and President Xi Jinping in Beijing last month the two countries said they would establish a 'board of trade' to identify $30bn worth of US products for Chinese companies to buy, matched by an equivalent amount of Chinese imports into the US. Washington and Beijing would then reduce or drop tariffs on those products. The US Trade Representative's office (USTR) on Monday kicked off a public consultation process on how the US-China board of trade should function and what categories of products should qualify for tariff reductions. The USTR filing does not mention a specific monetary target. The filing is asking US exporters to identify what products they would be able to sell if Beijing reduces current tariffs on those products to pre-2025 levels. This would include US crude and LNG, as Beijing imposed a 20pc surcharge on US crude last year, on top of an existing 2.5pc tariff, making US crude exports to China uneconomical. The White House claimed after the Trump-Xi meeting that Beijing has expressed interest in resuming purchases of US crude, but Chinese buyers have yet to return to the US market. USTR is asking for public comments on the board of trade until 10 July, with responses to those comments expected by 27 July. Xi and Trump also agreed to establish a separate government panel to promote bilateral investment — an idea pitched by Beijing after the US in recent years rolled out prohibitions on Chinese investment in industries considered sensitive from the national security perspective. Despite the promise to establish a US-China board of investment, "the US position toward Chinese investment has not materially changed," USTR head Jamieson Greer said last week at a discussion hosted by Washington-based Council on Foreign Relations. "If you have a US company investing in China and China says, you know, 'here's an issue with it or there's an obstacle', we can talk to the Chinese about it" through the new board of investment, Greer said. The US until 20 February had assessed a 20pc punitive tariff on all imported goods from China, on top of pre-2025 duties. The Supreme Court struck down those tariffs, and the Trump administration has imposed a 10pc tariff on all US imports through 24 July. Imports from China will be subject to a general 12.5pc tariff surcharge once the Trump administration completes legal steps to reverse-engineer the tariffs struck down by the Supreme Court, USTR said in a separate filing on Monday. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Mexico’s Amigo LNG sells out first train

02/06/26

Mexico’s Amigo LNG sells out first train

Houston, 2 June (Argus) — Mexico's 7.8mn t/yr Amigo LNG export project has sold enough capacity to cover the first of its two proposed liquefaction trains after Macquarie raised its contracted offtake, according to a filing with the US Department of Energy (DOE). The project has now sold 4.35mn t/yr under binding contracts after Macquarie on 8 May increased its volume to 1mn t/yr from 600,000 t/yr, according to a DOE filing on 1 June. The project has also sold 600,000 t/yr to Nigeria's Sahara Energy, 900,000 t/yr to Oman's OQ Trading, 850,000 t/yr to Swiss trader Gunvor and 1mn t/yr to the UAE's IRH. Amigo LNG also has a non-binding deal with Malaysia's E&H to supply 3.6mn t/yr. Project developers LNG Alliance and Epcilon plan to build the project as a floating terminal off the coast of Sonora's Guaymas port on the Gulf of California, which connects to the Pacific Ocean. It would comprise a first train with a nominal capacity of 3.9mn t/yr and a design capacity of 4.2mn t/yr, with plans for a second train of the same size. The terminal's gas would come from the Permian basin of west Texas and New Mexico, putting it under the DOE's purview. By Tray Swanson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Over 300 vessels engaged with Strait Authority: Iran

02/06/26

Over 300 vessels engaged with Strait Authority: Iran

Dubai, 2 June (Argus) — More than 300 non-Iranian vessels have contacted Iran's Persian Gulf Strait Authority (PGSA) since late April to obtain permits to cross the strait of Hormuz safely, the entity said yesterday. The PGSA was formed as part of Tehran's push to tighten control over shipping in and around the critical strait of Hormuz after the start of the US-Israeli war with Iran in late February. Numerous governments have pushed back strongly against Iran's claims on the waterway. "Since the start of operations early [in the Iranian month of Ordibehesht], more than 300 non-Iranian vessels have submitted information to the PGSA to obtain safe passage permits through the strait of Hormuz," the authority said yesterday. Ordibehesht corresponds to the period from 21 April to 21 May. A breakdown published by the PGSA showed 42pc of the vessels applying for a permit were "oil tankers". Another 27pc were bulk carriers, 11pc were container ships and 8pc LNG carriers. It said 77pc of the vessels submitting requests were looking to exit the Mideast Gulf through the strait, with the remaining 23pc looking to enter the Mideast Gulf. Of the vessels looking to exit the Mideast Gulf, the PGSA said more than one quarter, or 28pc, were destined for China, 19pc for India and another 23pc for elsewhere in Asia. Around 12pc of the vessels were heading for ports in Europe and 10pc for ports in Africa. And of the vessels travelling the opposite direction, more than one third, or 34pc, were destined for the UAE, 31pc for Qatar, 17pc for Iraq and 10pc for ports in Kuwait. The remaining 6pc was split equally between ports in Saudi Arabia and Oman. Staying power Tehran had been working on a mechanism to formalise its oversight and management of traffic through the strait of Hormuz since early in the conflict which was triggered by a surprise joint attack by US and Israel on Iran on 28 February. A bill dubbed the ‘law of strategic action for peace and development in the Persian Gulf' that was under discussion in Iran's parliament in March, now appears to have formed the basis for the creation of the PGSA. Iran formally announced the launch of the PGSA on 5 May, calling on all vessels intending to transit the strait to contact it by email to request a permit. The authority launched an account on social media platform X two weeks later on 18 May. But the US Treasury's Office of Foreign Assets Control (Ofac) last week issued fresh sanctions against it , despite ongoing talks between Washington and Tehran on a deal to end the war, and reopen the strait. Anyone co-operating with the PGSA "may be providing support to and receiving services from [Iran's Islamic Revolutionary Guard Corps] IRGC, which ultimately benefits from this attempted extortion, and may therefore be exposed to sanctions risk," Ofac said. The sanctions appear to have had an effect on traffic through the strait, with latest data from Kpler indicating that traffic has fallen to a little over three vessels per day since the sanctions were announced, down from almost seven daily in the week prior to the announcement. 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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