LNG
概要
LNGは、投入コストと炭素排出の両方を管理するのに役立つため、重要な原料としての位置を確立しています。重工業ユーザーによるネットゼロ目標達成の推進は、LNGの使用方法と使用場所に新たな局面をもたらしています。全体として、使用量は増加すると予想され、最も成長率の高い化石燃料になると予測されています。
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Lake Charles cancellation shifts tide in US LNG wave
Lake Charles cancellation shifts tide in US LNG wave
US LNG expansion may slow this year after developers greenlit 65mn t/yr of new export capacity in 2025, writes Tray Swanson London, 14 January (Argus) — US firm Energy Transfer (ET)'s decision at the end of 2025 to scrap its long-proposed 16.5mn t/yr Lake Charles LNG plant may have marked the first industry-wide reality check, casting doubt on the viability and scale of other planned projects against a looming global oversupply of the liquefied fuel. ET was an exception among other US LNG developers — a traditional midstream firm with a vast network of crude, refined products, gas and natural gas liquids (NGL) pipelines. Its Lake Charles regasification terminal, mothballed since 2012, was prime real estate in southwest Louisiana for conversion into an export facility. But the project was marred first by the Covid-19 pandemic, which led then-partner Shell to withdraw in 2020, and then by failure to secure an extension to its export licence under former president Joe Biden's Department of Energy. Offtaker interest was never an issue for Lake Charles LNG, which had already secured binding contracts for 11.9mn t/yr, or 72pc, of its nameplate capacity — two-thirds of which were signed within six months in 2022. Those deals could be part of the package if ET succeeds in selling the project to a third party. But under the firm's helm, the project faced a tougher environment for securing financing and building, which led ET to seek higher liquefaction fees. Steep competition for labour on the US Gulf coast has driven up construction costs, especially for projects using stick-built liquefaction trains such as Lake Charles. And ET appears to have developed concerns over the long-term profitability of US LNG, especially in comparison with the "superior risk/return profiles" it sees in its gas network. The firm had sought to sell 80pc of equity in Lake Charles LNG before reaching a final investment decision (FID), which would have still required ET to inject $3.5bn of capital, based on US Gulf coast projects typically costing around $1,050/t. Instead, it plans to spend $5bn-5.5bn on its gas network in 2026, focusing on opening more routes to market for low-cost gas from the Permian basin of west Texas and New Mexico. The company aims to build two new processing plants in the area and two egress pipelines — the 1.5bn ft³/d (15.5bn m³/yr) first phase of the Hugh Brinson line, which will haul gas east to the Dallas area once it starts service in late 2026, and the 1.5bn ft³/d Desert Southwest expansion of its Trans-western pipeline, aimed at boosting flows to the US southwest from 2029. The firm said in November it is also considering converting an NGL pipeline to natural gas. And on 18 December, just as it scrapped Lake Charles LNG, it announced plans to expand Desert Southwest by another 800mn ft³/d. A changing environment ET's decision may mark the start of a slowdown in contracting and FIDs, after US developers greenlit more than 65mn t/yr of new LNG export capacity in 2025, a banner year after President Donald Trump ended Biden's pause on export licences. More are in the works — four other projects with total capacity of 25.7mn t/yr appear close to an FID. Kimmeridge subsidiary Caturus has authorised the purchase of major equipment for its 9.5mn t/yr Commonwealth LNG in Louisiana, suggesting an imminent FID. The 4.4mn t/yr first phase of Delfin's floating LNG terminal offshore Louisiana is also near the finish line, with 4.3mn t/yr of offtake. But beyond those, large projects may struggle to raise financing. LNG powerhouses Cheniere and Venture Global have large expansions planned at their existing facilities, but may struggle to find customers in an oversupplied market. Cheniere has consistently said it intends to permit as much as possible under the Trump administration while not necessarily developing all of the authorised capacity. The company will take a phased approach to the 20mn t/yr expansion at its 33mn t/yr Sabine Pass facility, with the first adding only 7mn t/yr of new capacity. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Corpus Christi LNG starts train 5 commissioning
Corpus Christi LNG starts train 5 commissioning
Houston, 14 January (Argus) — US LNG producer Cheniere has begun commissioning the fifth of seven trains at its 11.45mn t/yr (1.5bn ft³/d) Corpus Christi stage 3 expansion, according to a filing with the Texas Commission on Environmental Quality (TCEQ). Cheniere told the regulator that emissions and flaring consistent with the start-up process could begin as early as 10am ET on 14 January. The company in a separate filing sought the Federal Energy Regulatory Commission's (FERC) permission to begin introducing propane to part of train 5's equipment. Cheniere expects to complete the seven-train expansion in 2026, bringing the facility's total capacity to 28.9mn t/yr. The first four trains entered service throughout 2025, with the fourth train completed ahead of schedule in late December . The south Texas terminal exported an average of 430,000t/week in the 28 days that ended 11 January, equivalent to a rate of 22.4mn t/yr, Kpler data show. The four-week moving average was 300,000t/week, or a rate of 15.6mn t/yr, over the same span a year earlier. The export rate indicates Corpus Christi LNG has taken 3.28bn-3.44bn ft³/d of feedgas, assuming liquefaction losses of 10-15pc. In the 30 days that ended 12 January, Corpus Christi received 2.27bn ft³/d of gas on its associated pipeline, which FERC requires to publicly post nominations. This implies the intrastate 1.7bn ft³/d ADCC pipeline, which is not required to post flow data, has been sending about 1bn-1.2bn ft³/d to the terminal. By Tray Swanson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Qatar confirms US military base evacuation
Qatar confirms US military base evacuation
Washington, 14 January (Argus) — The US military began to partially evacuate military personnel from the Al Udeid air force base in Qatar on Wednesday, according to the Qatari government. US official sources have yet to provide a confirmation of the move, which would indicate, at a minimum, a possibility of US military strikes against Iran and subsequent retaliation by the Iranian forces against the largest US air force base in the Middle East. The partial evacuation is "undertaken in response to the current regional tensions," the Qatari government said. Al Udeid came under a missile attack from Iran in June, following the US bombing raid against key Iranian nuclear facilities. Tehran at the time signaled it was planning to retaliate symbolically, giving the US and Qatar sufficient notice to evacuate the air base. Qatar's LNG and energy facilities did not suffer any damage in the June attack. US president Donald Trump has mulled possible air strikes against targets in Iran, ostensibly in support of nationwide protests that prompted a violent crackdown by the Iranian government. He has not explained how US strikes would help the protesters and has not articulated any other US strategic goal in Iran. "The end game is to win," Trump told CBS News on Tuesday. "I like winning." By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Finnish and Baltic gas demand declines in 2025
Finnish and Baltic gas demand declines in 2025
London, 13 January (Argus) — Combined Finnish and Baltic gas consumption was down by 9pc on the year in 2025, with demand lower in all four countries. Consumption across Lithuania, Latvia, Estonia and Finland totalled 39.7TWh in 2025, down from 43.6TWh in 2024 and continuing its downward trend that began in 2022 in response to the energy crisis ( see combined consumption graph, data and download ). Gas demand in the region is down by 41pc since 2021 or by 27TWh. The region is now almost entirely dependent on LNG imports, with only limited volumes of pipeline gas delivered from Poland. Combine sendout from the Inkoo, Hamina and Klaipeda LNG terminals totalled 40.2TWh last year, down from 43.4TWh in 2024 and substantially above 32.4TWh in 2022, when the region still received some Russian pipeline deliveries. Russian pipeline flows stopped in 2022, while Russian LNG was last received in July 2024. Russia's Gazprom suspended deliveries to Finland's largest gas importer, Gasum in May 2022, following the refusal to transition to payments in roubles. And Lithuania was the first EU country that halted Russian supply in April 2022, in response to Moscow's war in Ukraine. That said, some volumes of Russian gas continue to go through Lithuania as transit volumes to meet the needs of Russia's Kaliningrad. The Latvian Incukalns is the only storage facility in the region, with a technical capacity of 24.9TWh. Stocks totalled 10.5TWh on 12 January, a 4.7TWh year-on-year deficit, according to GIE transparency platform data. The available infrastructure was used also for deliveries to the region including Ukraine . Ukrainian private-sector firm DTEK received its first cargo at Klaipeda for delivery to Ukraine, and other central and eastern European markets in November. Lithuania was a net exporter to Poland of 4.4TWh in 2025, up from 1.1TWh a year before. Users move away from gas Milder weather — combined with European climate policy and rising environmental levies — encouraged users to reduce gas consumption. Milder weather in the region may have weighed on gas needs, as minimum temperatures averaged 2.7°C in 2025 in Helsinki,Tallinn, Riga and Vilnius, up from 2.5°C a year earlier. The EU emissions trading system (ETS) daily index averaged €74.92/t of CO₂ equivalent (CO₂e) in 2025 and stood at €89.46/t on 12 January, sharply above the €66.44/t CO₂e average in 2024. Gas-fired generation still plays a limited role in the region, but its share in the power mix edged up on the year to 11pc from 10pc in 2024. Combined gas-fired output across the three Baltic states rose to 3.04TWh in 2025 from 2.45TWh a year earlier, while Finnish gas-fired generation fell to 870GWh from 1.23TWh, according to data from Fraunhofer ISE ( see gas-fired power graph ). Baltic countries had a 68pc share of renewables in their generation mix in 2025, while Finland had a 55pc share. And the European Commission approved a €2.3bn financial scheme to support Finland's transition to net zero emissions. The scheme includes support for investment renewable energy production, and has been provided as a tax credit. This is likely to weigh on gas demand from industrial users, which may be required to reduce fossil fuel use to access the financial support. Lithuania's largest gas consumer, fertilizer producer Achema, restarted one ammonia unit at its Jonava plant in August, supporting regional industrial gas demand. The site operates two ammonia units, each capable of consuming up to 21 GWh/d. But Achema faces the same pressures as the wider European fertilizer sector, including low-cost imports, high environmental levies and uneven competition. The company has posted losses for the past two years and suspended ammonia production for three months this year on the back of high gas prices and weak margins. By Victoria Dovgal Baltics gas consumption 2025 TWh Baltics gas generation 2025 TWh Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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