JM—Iran also damaged an oil refinery in Haifa. Israel has only two and Haifa is its largest. You might think that this benefits the US LNG industry. Maybe yes. Also less than you think.
For example, Japan is hugely dependent on LNG. If it can’t get it from the ME, it must get it elsewhere . It already gets some from Russia. And has contracts with the US, but it has shifted its focus to Canada.
The LNG Canada Project in British Columbia in Kitimat, is partially funded by Mitsubishi Corporation (15% stake) shipping 2.1 million metric tons of LNG annually to Japan since 2025. The project aims to add 14 million tons of capacity annually, expanding over time. And there are other projects under construction. Japan and other Asian countries prefer Canadian LNG because it offers a shorter transit time (approx. 10 days) compared to Middle Eastern or US Gulf routes. This makes its economically competitive, despite higher production costs than, say, Qatar or even the US.

