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Latest news about Oil and gas Industries-12.09.25
On September 11, 2025 Pelican Acquisition Corporation finalized a merger with Greenland Exploration Limited and March GL Company to form Greenland Energy Company. This new entity becomes the first U.S. public company focused on developing oil and gas resources in Greenland’s Jameson Land Basin, an area long identified as one of the Arctic's most promising undrilled hydrocarbon regions.
The basin's potential was initially established by ARCO, which invested over $275 million in exploration and infrastructure, including building the Constable Point Airfield. Modern reprocessing of ARCO’s historical seismic data by March GL has identified more than 50 potential drilling targets. With government approval already granted, field operations are underway to construct access roads, and major service contracts with companies like Halliburton have been secured to mobilize a drilling rig.
Executives heralded the merger as a strategic move for both Greenland and Western energy security. With rights to 70% of three licenses covering two million acres, Greenland Energy is positioned to lead a major Arctic energy venture. The project aims to responsibly unlock the basin's multi-billion-barrel potential, which could significantly diversify Greenland's economy and bolster U.S. strategic independence.
On September 10, 2025 The Alaska LNG project, majority-owned by Glenfarne, signed a pivotal Letter of Intent (LOI) with Japan's JERA for the long-term supply of one million tonnes per annum of LNG. This 20-year offtake agreement significantly advances the only federally authorized LNG export project on the U.S. Pacific Coast, strengthening Japan's supply security. With this agreement, Glenfarne has now secured preliminary deals for over half of the project's capacity, highlighting strong Asia-Pacific demand for U.S. LNG.
Designed to be one of the world's lowest-carbon LNG projects, Alaska LNG boasts strategic advantages including the shortest shipping distance from the U.S. to Asia and abundant North Slope gas reserves. Glenfarne is pursuing a phased development strategy, targeting a final investment decision for the domestic pipeline in late 2025 and for the LNG export facilities in 2026. The project is positioned not only as critical U.S. energy infrastructure but also as a key source of energy security for American allies.
Visit: https://worldoil.com/news/2025/9/10/alaska-lng-signs-20-year-offtake-agreement-with-japan-s-jera/
On September 10, 2025, TotalEnergies signed agreements to acquire a 10% direct stake in the joint venture developing Train 4 of the Rio Grande LNG project, in addition to holding an indirect 7% stake through its 17.1% shareholding in NextDecade. Together with partners NextDecade, Global Infrastructure Partners, GIC, and Mubadala, the consortium has made the Final Investment Decision (FID) for Train 4, which will add 6 million tons per annum of capacity and bring the plant’s total to approximately 24 MMtpa upon its expected completion in 2030.
This investment strengthens TotalEnergies' U.S. LNG export capacity, which is set to exceed 16 MMtpa by 2030. The company has also secured a 20-year offtake agreement for 1.5 MMtpa from the new train. TotalEnergies is already a key stakeholder in the project’s Phase 1—which includes three trains scheduled to start in 2027—holding a 16.7% interest and 5.4 MMtpa of offtake capacity, reinforcing its position as a major global LNG supplier.
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