Corpus Christi LNG undergoing planned maintenance

Spanish Market: Natural gas
06/05/26

Feedgas flows to Cheniere's 28.9mn t/yr (3.85bn ft³/d) Corpus Christi LNG export terminal in Texas have fallen this month because of planned maintenance at the facility, a spokesman told Argus today.

The spokesperson declined to comment on the length or scope of the work. The terminal received 1.65bn ft³/d of gas on its 2.75bn ft³/d Corpus Christi pipeline over 1-6 May, down from 2.31bn ft³/d in April, pipeline data show. This excludes flows on the intrastate ADCC pipeline, which is not required to publicly post nominations data.

The maintenance coincides with work at Sempra's 15mn t/yr Cameron LNG facility in southwest Louisiana, which began on 30 April and likely will last for most of May, based on historical data. Cameron's flows fell to 1.48bn ft³/d over 30 April-6 May, down from 2.13bn ft³/d in April before the planned maintenance. In tandem, and assuming Corpus Christi's ADCC supplies remain the same as April's levels, work at the two terminals equal about 2.5 cargoes per week, given a standard shipment of 72,500t.

The loss of those cargoes comes with global LNG supply already tightened from the de facto closure of the strait of Hormuz, cutting off shipments from Qatar's 64.2mn t/yr Ras Laffan and the UAE's 6mn t/yr Das Island export terminals.

By Tray Swanson

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07/05/26

First LNG planned at Mexico’s ECA in June: Sempra

Houston, 7 May (Argus) — US energy firm Sempra expects its 3.25mn t/yr (430mn ft³/d) Energia Costa Azul (ECA) LNG export terminal in Mexico to begin production next month, the company announced today. The terminal, at Baja California's Ensenada on the Pacific coast, began receiving feedgas on 20 April but has not yet produced LNG. The facility took about 27mn ft³/d of feedgas from 24 April to 4 May, according to the latest pipeline data. Sempra anticipates the terminal will begin producing LNG in June before reaching substantial completion this summer, the company said. The project has until 21 September to begin exports under its license with the US Department of Energy (DOE). The project will re-export US natural gas, mostly from the Permian basin of west Texas and New Mexico, putting its request to export LNG under DOE's purview. ECA's long-term offtake customers are TotalEnergies and Mitsui, which hold 1.7mn t/yr and 800,000 t/yr, respectively. By Tray Swanson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Australia to reserve 20pc of LNG projects' output

07/05/26

Australia to reserve 20pc of LNG projects' output

Sydney, 7 May (Argus) — Australia's federal government has fixed the amount of gas production that must be kept onshore for domestic users, with 20pc of LNG export volumes required to be supplied into local markets from 1 July 2027, with an exception for any existing contracts. The scheme will lower gas prices, the country's energy minister Chris Bowen said on 7 May, but Canberra declined to put a figure on the forecast price reduction for spot volumes. This will protect local industries reliant on gas and gas-fired power generation, the government said. The reservation will not apply to any export contracts signed before the December 2025 announcement of the reservation scheme . From commencement, projects wanting to export spot LNG will need to demonstrate supply into the domestic market before receiving a permit to ship supplies, creating a buyers' market for domestic gas, resources minister Madeleine King said. The exact volume of new gas entering the market from next year is uncertain. But LNG exports from east coast producers would average 1,253PJ, or about 22.6mn t/yr under long-term contracts and 85 PJ/yr or 1.5mn t/yr in expected LNG spot sales over 2026-35, according to Australia's annual Gas Statement of Opportunities (GSOO) report released in March. Gladstone harbour on Australia's east coast shipped 23.46mn t in 2025 and 24.04mn t in 2024. A total of 364 LNG cargoes were shipped from Gladstone's three projects in 2025. The projects are the 7.8mn t/yr Gladstone LNG (GLNG), the 9mn t/yr Australia-Pacific LNG (APLNG) and the 8.5mn t/yr Queensland Curtis LNG (QCLNG). Total output by LNG projects and domestic producers would fall by 12pc over 2026-30 , the 2026 GSOO said. The decline would largely be due to declining southern domestic field supply, which will fall from 318PJ in 2026 to 170PJ in 2030 as the Gippsland basin joint venture in Victoria state closes gas plants. Supply questions The 20pc reservation level would mean volumes equating to about 60pc of the east coast domestic gas market were pumped into the market, the upstream lobby Australian Energy Producers (AEP) said, arguing this would crowd out smaller domestic producers, reduce competition and impact future supply. Gas shortfalls would be better avoided by removing barriers to investment in new supply, AEP said. The plan could crash prices and deter investment by domestic-focused suppliers, Australian independent Beach Energy said. But Western Australia state's domestic reservation scheme for LNG exporters has not pushed out domestic suppliers, Bowen countered. But that state has shifted to allow some onshore LNG exports as an incentive for new projects to come on line , as it faces its own shortfall in supply into the 2030s . The scheme will permanently decouple pipeline gas from higher LNG prices, King said. But this is yet to occur despite a spike in international prices since the US-Iran war began. Argus ' Gladstone fob price, an LNG netback indicator calculated by subtracting freight and costs associated with production from the delivered price of LNG to Asia-Pacific, was A$21.23/GJ ($16.23/mn Btu) on 1 May, up from A$13.63/GJ on 27 February. The AVX, the Argus assessment for month-ahead spot gas deliveries to Victoria, stood at A$10.97/GJ on 30 April down from A$11.135/GJ on 27 February, largely due to mild weather conditions. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Trump claims deal with Iran to reopen Hormuz: Update

06/05/26

Trump claims deal with Iran to reopen Hormuz: Update

Updates with changes throughout Washington, 6 May (Argus) — A peace deal under discussion with Iran would reopen the strait of Hormuz to navigation and lift the US blockade on Iranian trade, President Donald Trump said on Wednesday. "Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end," Trump said in a social media post, referring to the US designation for the military operation against Iran that started on 28 February. "If they don't agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before." Iran's foreign ministry said it was still reviewing a US proposal, state news agency Isna said on Wednesday. Iran's Tasnim agency, which is linked to Islamic Revolutionary Guard Corps (IRGC), said that the US proposal "contains some unacceptable clauses". Crude futures dropped sharply after Trump on Tuesday paused the US military mission to force Hormuz open and said that the US and Iran were close to a diplomatic breakthrough. Oil futures have gyrated over the past month after reported breakthroughs in the US-Iran talks that subsequently turned out to have been false starts. The US and Iran reached agreement on a ceasefire on 7 April, but the transit of vessels through the strait of Hormuz is still at a fraction of pre-war levels. Tehran has maintained tight control over the critical Mideast Gulf waterway, while the US has enforced a blockade of Iranian trade since 13 April. Neither Tehran nor Washington officially confirmed details of a possible agreement. Previous statements from Washington and Tehran have outlined the contours of an agreement that would curb Iran's nuclear program in exchange for sanctions relief for Tehran. But red lines drawn by both sides — the US insistence on eliminating Iran's theoretical capacity to produce nuclear weapons and Tehran's assertion of control over Hormuz — will have to be reconciled. The sequence of addressing the points of contention is also an issue, with Tehran keen to push discussion of its nuclear program to a later date. Senior US and Iranian leaders met face to face in Pakistan on 11-12 April, but that round of diplomacy ended without an agreement. The two countries since then have communicated indirectly, through Pakistan. The US on 4 May launched a military mission, dubbed Project Freedom, to challenge Tehran's control over Hormuz. Tehran responded to Project Freedom by launching missiles and drones at US warships and commercial ships transiting Hormuz, while the US destroyed six Iranian naval boats. Iran also targeted the port of Fujairah in the UAE. Trump said on Tuesday he would pause Project Freedom. Tehran had been reviewing the latest US peace proposal before Trump ordered the latest US military mission, and the subsequent confrontation put that review on pause, Tasnim claimed. "After Trump's retreat, Iran has resumed its review in this regard and will announce to the mediator whenever it reaches a conclusion," Tasnim said. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Ship arrives for US’ Golden Pass LNG’s second cargo

06/05/26

Ship arrives for US’ Golden Pass LNG’s second cargo

Houston, 6 May (Argus) — QatarEnergy (QE) and ExxonMobil's 18.1mn t/yr (2.4bn ft³/d) Golden Pass LNG terminal in southeast Texas is set to load its second cargo after the 174,000m³ HL Sea Eagle arrived today. The ExxonMobil-operated vessel docked at Golden Pass after holding offshore in the Gulf of Mexico since 17 April, Kpler ship-tracking data show. Golden Pass began producing LNG on 30 March and exported its first cargo on 22 April as the terminal ramps up the first of its three liquefaction trains. A commissioning terminal's second export is often more indicative of loading rates than the first because the first shipment typically includes a partial re-export of the facility's imported cool-down cargo. Feedgas flows to the terminal have averaged about 340mn ft³/d since the 174,00m³ Al Qaiyyah departed Golden Pass with a 75,600t cargo on 22 April, pipeline data show. That is equal to about 42.5pc of train 1's peak capacity. Sustained feedgas at this level indicates a loading rate of one 75,600t cargo every 11-12 days, assuming 10-15pc of feedgas is burned or consumed during the liquefaction process and all of the production is loaded directly onto a ship. Some of the production, however, is likely being used to commission Golden Pass' five 155,000³ LNG storage tanks. It is unclear when a vessel will arrive to load the terminal's third cargo. QE has four empty LNG carriers in the Gulf of Mexico, three of which are signaling arrival at the 27.2mn t/yr Plaquemines facility in southeast Louisiana and another for the 12.4mn t/yr Calcasieu Pass terminal in southwest Louisiana, Kpler data show. ExxonMobil has an empty vessel, the 174,000m³ Cool Racer , sailing north of Cuba into the Gulf of Mexico with a declaration of "for orders". By Tray Swanson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Gunvor raises LNG offtake from US’ Delfin

06/05/26

Gunvor raises LNG offtake from US’ Delfin

Houston, 6 May (Argus) — Trading firm Gunvor signed up for another 300,000 t/yr of offtake from the proposed 4.4mn t/yr Delfin floating LNG (FLNG) terminal offshore Louisiana, the company announced today, bringing the trader's total contracted volume from the project to 900,000 t/yr. The additional offtake will be on an fob basis for a 20-year term. Delfin now has 4.15mn t/yr, or about 94pc of its capacity, contracted under binding, long-term agreements as it works toward a final investment decision by the end of June. The deal comes after US gas producer Expand Energy, another Delfin customer, altered its offtake contracts from the terminal. Expand recently canceled its 600,000 t/yr offtake, which it intended to sell to Gunvor on a contract linked to delivered northeast Asian spot prices, and replaced it with a 20-year, 1.15mn t/yr sales and purchase agreement. Delfin's other binding offtake agreements include deals for 500,000 t/yr with Vitol, 600,000 t/yr with Hartree and 1mn t/yr with Centrica. Delfin also signed a preliminary agreement in 2022 to sell 1mn-2mn t/yr to US producer Devon Energy and another in 2025 to sell 1.5mn t/yr to Germany's state-owned Securing Energy for Europe. Those agreements may be linked to Delfin's expansion plans, which include two other 4.4mn t/yr FLNG units that would raise the terminal's total capacity to 13.2mn t/yr. The company is in talks with potential equity investors and lenders to support an FID on the first FLNG unit, according to federal filing in early April. By Tray Swanson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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