Houthi rebels dismissed a claim by US President Donald Trump this week that a deal had been done to end attacks on shipping in the Red Sea. Insurers and leading shipping associations continue to advise commercial shipping to keep away from the region. Italian Prime Minister, Georgia Meloni, meanwhile confirmed in parliament that the Italy/US LNG ‘deal’ agreed last month (see GeEO 250423) affirmed a willingness to see more US LNG export to Italy if mutually beneficial but contained no firm commitment from Italy.

Commercial operation of the 5 bcm pa Ravenna FSRU terminal is expected to start this month with the capacity being made available through auctions on GME’s PAR platform, but the status remains unclear as details of forthcoming auctions are not published on GME’s public website.

Total 7-day rolling European LNG sendout, meanwhile, rose by 7 mmcm/d to 450 mmcm/d as sendout in the UK fell by 7 mmcm/d but continental sendout rose by 14 mmcm/d.