Indian Oil’s first Colombian crude purchase under its Ecopetrol deal signals a shift in trade flows as sanctions and shipping disruptions curb Russia’s oil exports to India.
Petronas has agreed to supply 1 million metric tons per year of LNG to CNOOC, reinforcing Asian LNG trade flows as producers continue to secure long-term offtake.
Kazakhstan’s state pipeline operator Kaztransoil plans to open its first EU office in Poland as it works to stabilize crude oil exports to Germany via existing cross-border pipeline routes.
Japan’s largest power generator, JERA, has signed a seven-year LNG supply agreement with Hokkaido Gas, securing up to three cargoes per year starting in 2027 and reinforcing domestic energy supply resilience.
TotalEnergies has strengthened its partnership with PTTEP through a stake adjustment in Malaysia’s SK408 offshore gas block, retaining operatorship while optimizing its regional gas portfolio. The move reinforces Malaysia’s role as a key hub for long-term gas supply and supporting infrastructure in Southeast Asia.
Venezuelan state oil company PDVSA has been forced to double discounts on crude sold to Asia, with some barrels priced up to $15 below Brent, as Russian and Iranian oil floods the market and U.S. military activity heightens loading risks near Venezuelan ports.
Despite a memorandum signed during President Putin’s visit to China, experts note pricing disputes and complex logistics could delay progress on the cross-border project.
SOCAR and Hungary’s MVM ONEnergy signed a new natural gas supply deal effective January 2026, expanding Azerbaijan’s pipeline exports to Europe and strengthening regional energy ties through the South Caucasus and TANAP systems.
McDermott won an EPCIC contract from PETRONAS Carigali Brunei for a major offshore gas project that includes subsea infrastructure and a new export pipeline supplying Brunei’s LNG sector.
Glenfarne and POSCO have finalized a strategic partnership for the Alaska LNG project, including a 20-year offtake deal, steel supply for the 807-mile pipeline, and a pre-FID investment to advance the only federally authorized LNG export terminal on the U.S. Pacific Coast.
The projects will add nearly 11 Bcm of working gas capacity as China strengthens its natural gas infrastructure and supply security.
Venture Global has signed a 20-year LNG supply agreement with Tokyo Gas, adding 1 MMtpa of long-term sales and bringing its 2025 contract total to 7.75 MMtpa. The deal strengthens U.S.–Japan LNG trade as Gulf Coast export capacity continues to expand.
McDermott has safely wrapped up subsea pipeline installation and heavy-lift work for Sarawak Shell’s FaS development offshore Malaysia, marking more than one million safe work hours and reinforcing its role in Asia’s offshore infrastructure build-out.
China’s crude imports from Indonesia have jumped to record levels, far exceeding Indonesia’s actual exports—a shift traders say reflects rebranded Iranian barrels moved via ship-to-ship transfers off Malaysia amid tighter scrutiny. Analysts warn the rerouting could further distort global crude trade flows.
The IEA says the next LNG wave is reshaping global gas markets, easing tight pipeline supply and helping Europe balance declines from Russia and Norway. Demand remains weak in Asia, but is expected to rebound by 2026.
You can change it with picker below or later using the switch located in the footer.
