LNG Buyers, Sellers Diversify Supply Amid Iran War Disruptions

LNG importers and producers are accelerating supply diversification as the US-Israeli war against Iran disrupts Gulf shipments, officials said at the Gastech conference in Bangkok. The push could boost projects outside the US and Qatar, which dominate planned capacity additions. Thailand's PTT is targeting Oman, North America and West Africa; its trading arm signed a long-term supply deal with Norway's Equinor on Friday. Bangladesh, previously reliant on Qatar, now eyes Indonesia, Australia and China. Shell's Tom Summers said net supply loss is only about 5 million tons, or 1%-1.5% of global supply, despite 36 million tons lost from the Middle East. Inpex plans a final investment decision by mid-2027 on Indonesia's 9.5-million-ton Abadi project, with longer-term diversification into the Americas. High prices have boosted prospects for Argentina, East Timor and Tanzania.