Top 5 news of the week May 20-26

LNG Prime brings you the five most popular news on our platform during the week of May 20-26, 2024.

1) US construction company Zachry said on Tuesday it has filed for bankruptcy, initiating a structured exit from the Golden Pass LNG export project in Texas due to “financial challenges” related to the construction of the facility owned by QatarEnergy and ExxonMobil.

2) US LNG terminal developer Tellurian released the latest construction update for the first phase of its Driftwood LNG terminal in Louisiana, while it still works on securing financing for the project worth about $14.5 billion.

3) Singapore’s Seatrium has secured a contract from South Korea’s Hyundai LNG Shipping to repair and upgrade the latter’s LNG carriers.

4) UAE’s Adnoc has purchased an 11.7 percent stake in the first phase of NextDecade’s Rio Grande LNG export terminal in Texas from Global Infrastructure Partners.

5) UAE’s Adnoc has agreed to buy Galp’s 10 percent interest in the Area 4 concession of the Rovuma basin in Mozambique, which includes Eni’s Coral South FLNG project.

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