LNG
Overview
LNG's role as a key feedstock is well established as it helps manage both input costs and carbon emissions. Heavy industrial users' drive to achieve net zero targets has added a new dimension to how and where it is being deployed. Overall, its use is expected to increase and is tipped to become the strongest-growing fossil fuel.
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Latest LNG news
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Saudi East-West pipeline maxed out on Hormuz closure
Saudi East-West pipeline maxed out on Hormuz closure
Doha, 29 March (Argus) — Saudi Arabia's now primary export outlet, the 7mn b/d East-West pipeline, has reached full capacity, sources with knowledge of the matter told Argus . The kingdom has, over recent days, moved around 7mn b/d of crude through the pipeline, the sources said. The pipeline, which links Saudi Arabia's eastern oil fields to the Red Sea port of Yanbu, was developed during the 1980s Iran-Iraq "Tanker War" as part of contingency planning to maintain exports in the event of a closure of the strait of Hormuz. The US-Israel war with Iran which began on 28 February has effectively halted flows through Hormuz, after Tehran began threatening and targeting tankers in and around the strait. This has forced Saudi Arabia and other regional producers to shut in significant volumes of oil and gas output. State-controlled Saudi Aramco began offering customers in Asia-Pacific the option of loading crude from Yanbu during the first week of the war, ramping up exports from the Red Sea port. A large number of tankers have since been redirected to Yanbu. Crude exports via Yanbu have reached around 5mn b/d, with an additional 900,000 b/d of refined products also shipped from the Red Sea, the sources said. The pipeline also supplies around 2mn b/d to domestic Red Sea facilities, including 1.5mn–1.6mn b/d to refineries near Yanbu and 400,000–500,000 b/d to the Jizan refinery, as well as power and desalination plants along the coast. Despite operating at full capacity, flows through the pipeline remain insufficient to compensate for the loss of Hormuz, which previously handled around 15mn b/d of crude flows. Saudi Arabia exported around 7.1mn b/d of crude in February and averaged 6.3mn b/d in 2025, with roughly 5.5mn b/d previously shipped via the Mideast Gulf. The kingdom's ability to rapidly deploy spare infrastructure and reroute exports reinforces its position as the world's primary supplier of last resort. Saudi Arabia has also cut production by around 2.5mn b/d , shutting in several offshore fields — including Safaniya, Marjan, Zuluf and Abu Safa — in response to Iranian missile and drone threats targeting Gulf energy infrastructure. Infrastructure linked to Red Sea exports has also come under attack. Saudi Arabia's defence ministry on 20 March said that an Iranian drone struck near the 400,000 b/d Samref refinery in Yanbu, prompting a temporary halt to exports from the terminal. Meanwhile, Yemen's Iran-backed Houthi militants launched missiles at Israel on 28 March, marking its first direct involvement since the conflict began. The move raises the risk of further escalation in the Red Sea and around the Bab el-Mandeb, a critical route for global oil flows. The Houthis warned they would enter the conflict if US or Israeli operations expanded, although they have not yet indicated plans to target shipping. But the group has previously attacked tankers during the Gaza war. Any disruption to flows through Bab el-Mandeb would leave Saudi crude exports via the Red Sea dependent on transit through Egypt. By Bachar Halabi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Iran turns back 3 ships trying to transit Hormuz: IRGC
Iran turns back 3 ships trying to transit Hormuz: IRGC
London, 27 March (Argus) — Iran's Revolutionary Guard Corps (IRGC) said today that its navy has turned back three container ships attempting to pass through the strait of Hormuz. The IRGC said the ships of "different nationalities" tried to move into a designated corridor for licensed traffic, but were warned off and forced to withdraw. It said the strait is "closed" and that any movement in the waterway will face "severe action". The IRGC also declared that the movement of any ship sailing to or from ports of countries allied with what it calls its "Zionist-American enemies" — to any destination and from any corridor — is prohibited. The statement follows Iranian foreign minister Abbas Araqchi's comments on state TV on 25 March , when he said the strait remains open except to Iran's "enemies". Araqchi said Iran has allowed passage for vessels from "friendly countries, including China, Russia, India, Iraq and Pakistan". By James Keates Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Japan plans temporary ease of coal power restriction
Japan plans temporary ease of coal power restriction
Osaka, 27 March (Argus) — Japan is moving to temporarily lift restrictions on the operations of inefficient coal-fired power plants in the April 2026-March 2027 fiscal year to conserve LNG on rising uncertainty over imports from the Middle East and ensure stable electricity supplies. The trade and industry ministry Meti on 27 March unveiled an emergency plan to suspend in 2026-27 the capacity market rule that requires coal-fired plants with design efficiency below 42pc to keep their annual capacity factors at 50pc or lower. Plants that exceed the limit would face a 20pc reduction in capacity market revenues. Uncertainty remains over future LNG supply, especially from Qatar, in the event of a prolonged or worsening situation in the Middle East, although there is no immediate risk to short-term supply, Meti said. Power and gas utilities currently hold roughly 4mn t of LNG inventories, equivalent to one year of imports through the strait of Hormuz, and efforts to secure alternative procurement are ongoing. Assuming that inefficient coal-fired units operate at the average rate for coal-fired plants in 2026-27, the power sector could save around 500,000t of LNG, which is equivalent to a little over 10pc of the 4mn t/yr imported through the strait of Hormuz, according to Meti. Meanwhile, the emergency measure would increase Japan's demand for thermal coal, whose supply sources are not exposed to the conflict in the Middle East. Japan imported 8.7mn t of steam coal in February, sourcing 76pc from Australia, 10pc from Indonesia, 5pc each from the US and South Africa respectively, 3pc from Canada and 2pc from Russia, according to preliminary data released today by the finance ministry. Japan has pledged to phase out inefficient coal-fired plants by 2030, while promising not to build new unabated coal-fired plants. But coal remains a vital power source, accounting for 29pc of Japan's power mix in 2024-25, close to the 32pc share of gas. Japan's latest power capacity market auction, covering delivery year of 2029-30, secured around 166GW of generation capacity. The auction results did not specify the source of awarded capacity, but the breakdown of bidding volumes shows 38.15GW from coal fired units, including 5.27GW from inefficient coal fed plants. By Motoko Hasegawa Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
West Australian LNG plants remain off line post-cyclone
West Australian LNG plants remain off line post-cyclone
Sydney, 27 March (Argus) — Operators of Western Australia's four LNG terminals located in the Pilbara region have yet to assess the total damage from tropical cyclone Narelle, which passed directly over several key offshore gas facilities in the past 48 hours. It could take until the weekend for helicopter crews to access platforms in the Indian ocean associated with several oil and gas developments, given persisting high seas and winds. Workers at most manned facilities were demobilised ahead of Narelle's passage through the region. Chevron is working to restore production at the 8.9mn t/yr Wheatstone LNG project. The facility's platform about 225km offshore WA was taken off line around 12:00 local time (04:00 GMT) on 26 March, leading the company to suspend LNG and domestic gas output. One of Gorgon's three trains located on Barrow Island, further north from the onshore Wheatstone plant, has also been affected by an outage which began at 15:00 local time on 26 March. The other two production trains and Gorgon's domestic gas facility continue to operate. Australian independent Woodside Energy, which operates two LNG terminals at its 14.3mn t/yr North West Shelf (NWS) and 4.9mn t/yr Pluto projects, said output has been interrupted at the Karratha Gas Plant, NWS LNG's onshore production facility. Production continues at its 200 TJ/d Macedon gas plant and at Pluto, a spokesperson said, with domestic gas continuing to flow to customers from its WA portfolio and the company working to mobilise its workforce to reach offshore facilities. Transport delays travelling to the city of Karratha are delaying some staff from accessing offshore platforms and sites, Argus understands. The ports of Ashburton, Cape Preston West, Dampier and Varanus Island operated by Pilbara Ports remain closed as of 10:00 local time. The now-category 3 Narelle remains a dangerous system generating sustained winds of up to 155 km/h. It is located 90km southwest of the town of Exmouth and has continued to move southwesterly at 20 km/h. Narelle is expected weaken further as it moves over land to the southeast by 28 March, the Bureau of Meteorology said at 10:00 local time, with heavy rains expected to fall in WA's southwest. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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