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.

Most Popular

BGN delivers its first LNG cargo to Germany, secures Egypt deal

Switzerland-based energy trader BGN has completed its first LNG delivery to Germany, while simultaneously securing a deal to supply Egypt with LNG.

Excelerate’s FSRU launched in South Korea

South Korean shipbuilder HD Hyundai Heavy Industries has launched Excelerate Energy’s new floating storage and regasification unit (FSRU).

US small-scale LNG duo agree to merge

US-based small-scale firms United Energy LNG and Power LNG have agreed to merge, creating a small-scale LNG platform that will serve industrial, power, and transportation markets across North America.

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