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

Venture Global, Petronas seal 20-year LNG SPA

US LNG exporter Venture Global LNG has signed a 20-year LNG supply contract with Malaysian energy giant Petronas for volumes from the CP2 project in Louisiana.

Golden Pass LNG seeks re-export approval

Golden Pass LNG, a joint venture owned by energy giants QatarEnergy and ExxonMobil, is seeking approval from the US DOE to export previously imported LNG from October, as it nears the launch of the first liquefaction train.

TPDC, Energetech Tantel to develop Tanzanian small-scale LNG plant

State-run Tanzania Petroleum Development Corporation has signed a memorandum of understanding with Energetech Tantel to develop what they say is Tanzania's first small-scale LNG plant.

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