Liquefied methane in transit and power markets
The government has weighed final consent for the Jackdaw gas field and the Rosebank oil field, amid pressure from climate advocates and industry groups. Officials say a decision is imminent, with Jackdaw potentially delivering gas this winter, and Rosebank’s fate tied to environmental assessments.
European sanctions targeting Russia’s energy and financial sectors have progressed, with Greece blocking a wider ban and Ireland pushing a compromise on LNG exports. The package aims to curb Russia’s war effort as Kyiv pursues drone strikes and as the oil price cap remains in flux.
Iran and Oman are moving toward a joint, temporary shipping route through the Strait of Hormuz. Tehran says the arrangement is near finalisation but does not guarantee a full reopening of the strait. U.S. officials anticipate a broader peace framework is still necessary, and regional actors warn that security remains tied to American policy and broader ceasefire talks. Oil markets respond with volatility as talks continue.
RWE has relinquished its offshore wind leases in the US after a settlement with the Trump administration. The company will reinvest about $1.2 billion into a Louisiana LNG terminal and 15 natural gas peaker plants, while winding down projects on New York, California and Louisiana coasts. The move follows a pattern of government buybacks of offshore wind leases.
UTM Offshore aims to reach a Final Investment Decision in September on a roughly $3 billion floating LNG plant at the Yoho field, 60 km off Akwa Ibom. It would export 1.5–1.8 mtpa LNG and supply 300,000–500,000 tonnes of LPG domestically, backed by a 15-year gas sale agreement and financing from Afreximbank, with NNPC Limited and Delta State owning stakes.
Canadian Prime Minister Mark Carney has met French President Emmanuel Macron on Saint-Pierre and Miquelon and has announced plans to deepen economic and security ties with France and the European Union, including backing for a proposal that Canada become the EU's first "associate member." The leaders have discussed energy, critical minerals, defence and technology as Ottawa shifts away from U.S. dependence.
Chinese leader Xi Jinping has arrived in Washington for a state visit and a summit with U.S. President Donald Trump to discuss extending a trade truce, AI safety and the fate of Americans detained in China. Preparatory talks have produced limited deliverables; officials are expecting targeted, incremental agreements rather than a broad breakthrough.
South Korea is evaluating a proposed $50 billion Alaska LNG project as part of a broader $200 billion investment package announced with the United States. While Washington touts the deal as a boost for energy infrastructure, Seoul is weighing commercial viability and legal compliance amid concerns about the project’s cost, timelines, and long‑term LNG demand.
The Alaska LNG project is touted by President Trump as a major energy bridge linking Alaska, Taiwan, and the United States. Taiwan’s CPC Corp. has signed a plan to buy LNG from Alaska and invest up to $4.4 billion, with first supply anticipated around 2032. The claims come as Trump rallies in Alaska push for support ahead of a midterm election, while officials caution on project timelines and feasibility.