Osaka Gas' president claims that it has no immediate requirement for additional US LNG.
Osaka Gas' president stated on Wednesday that the company does not need to purchase more liquefied gas from the United States as it already has enough to last until the middle of next decade. U.S. president Donald Trump pushes energy sales to Asian allies, while threatening tariffs on trade. This is reviving Alaska LNG's stagnated LNG ambitions. Last month, Shigeru Ishiba, the Japanese Prime Minister…
Japan Gas Industry Head: Higher US LNG Imports Must be Mutually Beneficial
The head of Japan's Gas Industry Group said that higher imports of U.S. Liquefied Natural Gas would improve Japan's energy security and supply stability. However, they must be pursued on a mutually-beneficial basis for both parties. U.S. president Donald Trump pushes energy sales to Asian allies, while threatening tariffs on trade. This is reviving Alaska LNG's stagnated LNG ambitions.
Enel CEO: Italy's Enel wants to buy back shares as a way to reward shareholders
Enel, one of Europe's largest utilities, may offer a share repurchase to reward investors. The chief executive said this on Thursday following the presentation of 2024 results. Last year, the group reduced its net debt from 2.7 times its core earnings in 2023 to 2.4 in 2018 thanks to a comprehensive asset disposal program that began in late 2022. Renewable power generation boosted EBITDA to 22.8 billion euro, in line with the analyst consensus.
TotalEnergies' fourth-quarter profits drop on low oil demand
TotalEnergies, the French oil giant, reported a 15% decline in its fourth-quarter earnings Wednesday. The company closed out a year that was marked by low oil and fuel prices. This was partially offset by increased electricity sales and trading of liquefied gas. The adjusted net income for 2024's final quarter was $4.4 billion. This is down from the $5.2 billion it earned a year ago, but higher than the $4.1 billion in the third quarter.
Equinor, a Norwegian company, tries to lease an offshore wind farm in Japan again.
Two sources claim that Equinor, a Norwegian energy company, has bid with other companies to build an offshore wind farm in Japan's latest state auctions. It is looking for a foothold on the market. Equinor’s bid shows that some wind players have their eyes on Japan, even though they are cutting back elsewhere. This is despite the frustration of some international players with strict bidding regulations and an auction round won by Japanese companies.
Sonatrach Demanding Service Discounts
Algeria's state energy company Sonatrach has demanded its service providers cut their prices by up to 15 percent as the OPEC member country tries to ward off the impact of falling oil prices, industry sources said. The collapse in crude prices is testing Algeria's economy, which relies on energy sales for 60 percent of state revenues and to pay for a welfare system and subsidies that have helped calm social unrest.
Coutts Joins ATP Instone Sales Team
ATP Instone, part of the ATPI Group, a specialist division dedicated to powering travel management for the offshore and energy sectors, has appointed Lynn Coutts as head of energy sales for Aberdeen. Coutts has been part of the ATPI Group for two and a half years, previously as an account manager. In a career spanning over 12 years, she has held a number of travel management roles including director of sales for Millennium and Copthorne Hotels…
MET Holding Gets Syndicated Market Loan
Swiss-based energy sales and trading group MET Holding AG signed a 400 million euro syndicated market loan with five banks late last month, ING Bank , one of the participating banks said in a statement on Monday. The other four participating banks are Credit Suisse AG , Citibank Europe Plc., Hungary's OTP Bank and UniCredit Bank Hungary Zrt. "The Facilities consist of loans and trade instruments…
Taiwanese Solar Cell Makers Eye New Markets
Taiwanese firms face stiff competition from China. Caught in a trade war between China and the United States, Taiwan's solar companies are scrambling to find new customers in a sharp reversal of fortunes for an industry flooded with orders just a year ago. Solar cell makers such as Neo Solar Power Corp, Motech Industries Inc and Gintech Energy Corp are chasing contracts in Japan, Europe and emerging solar markets to offset a steep decline in sales to China.
Some Companies Profit as Brazil Struggles to Secure Power
A small group of energy companies in Brazil are increasing revenues at a time when the country is grappling with its worst power crisis in more than a decade, taking advantage of sky-high prices to sell electricity in the spot market. Power generators that have managed to produce extra energy in recent months or who aren't restricted by long-term supply contracts are being rewarded with prices up to six times higher than the average cost on conventional electricity contracts.
Russia Writes Off 90% Of NKorea Debt, Eyes Gas Pipeline
Russia's parliament has agreed to write off almost $10 billion of North Korea's Soviet-era debt, in a deal expected to facilitate the building of a gas pipeline to South Korea across the reclusive state. Russia has written off debts to a number of impoverished Soviet-era allies, including Cuba. North Korea's struggling communist economy is just 2 percent of the size of neighbouring South Korea's.
