Prices of EUROPE GAS close lower due to easing supply concerns
On Monday, the benchmark Dutch wholesale gas prices for the first month fell as a result of easing fears about supply. This was at a time when European leaders were meeting to discuss strategies on any possible peace agreement between Ukraine & Russia. The benchmark front-month contract for the Dutch TTF hub was almost 6% lower, closing at 47.72 Euros per megawatt-hour (MWh), compared to the level it closed on January 20. Meanwhile, the April contract was 5.6% lower, closing at 48.05 Euros/MWh. Other contracts also fell. The British month-ahead contract closed at 118.04 cents per therm, 4.80 pence less.
US Energy Secretary attacks "sinister" net zero goals and singles out Britain
Chris Wright, the U.S. Energy secretary, called Monday's pledge to reach net zero carbon emission by 2050 "a sinister goal" and criticized British efforts to meet clean energy targets. The former president Joe Biden has set an ambitious goal for 2021: to reduce emissions to zero by 2050 in order to combat climate change. This will be achieved in part through subsidies that encourage the expansion of clean energy sources and electric vehicles. Wright said that his top priority at an Alliance for Responsible Citizenship (ARC) event was for the government "to get out of the way" for the production of coal, oil and gas.
Lavrov and Rubio discuss removal of 'barriers,' set up by the previous U.S. Administration, Russia claims
In a Saturday phone call, Russian Foreign Minister Sergei Lavrov spoke with U.S. State Secretary Marco Rubio about the situation in Ukraine as well as the "unilateral obstacles" that were set up by the previous U.S. Administration. Peace talks to end the war in Ukraine will begin in the next few days, after U.S. president Donald Trump shocked European Allies when he called Russian President Vladimir Putin and declared an immediate start to talks. The Russian Foreign Ministry said that during the Saturday call, initiated by the U.S., Lavrov, Rubio and their respective presidents agreed to restore "mutually respect interstate dialogue".
US Judge rejects Republican challenge to Biden's ESG investment rule
A federal judge in Texas upheld a rule that was adopted by Democratic former president Joe Biden that allowed socially conscious investments by employee retirement plans. The judge said it remained valid after a U.S. Supreme Court decision that curbed the regulatory powers of agencies. U.S. District Court Judge Matthew Kacsmaryk, in Amarillo Texas, has rejected the arguments of 26 Republican-led States, oil drilling company Liberty Energy, and an oil and Gas trade group, that this rule is inconsistent with federal laws. The U.S. Department of Labor adopted the rule in 2022…
Trump creates Energy Council to promote US oil and gas
The administration of President Donald Trump announced on Friday that it had granted a licence to Commonwealth LNG for the export of liquefied gas in Louisiana. This is the first time since former president Joe Biden stopped exports at the beginning of last year. Exports to Asia and Europe are approved. Trump signed an executive directive in the Oval Office Friday, creating a new Energy Council to be headed by Interior Secretary Doug Burgum. The council will work to increase U.S. oil and gas production. The U.S. already ranks as the largest fossil fuel producer in the world.
The EPA chief wants to recover $20 billion in climate funding
He said that the head of the U.S. Environmental Protection Agency wants to terminate contracts signed by the previous administration for the distribution of $20 billion in grant funds to fund clean energy projects and transportation in disadvantaged areas. In a message on X, EPA Administrator Lee Zeldin stated that he would ask the Inspector-General, Congress, and Justice Departments to work together with the agency in order to terminate the contracts with eight regional organizations who were named as financial agents, and rescind the grant money that was awarded under the Biden EPA’s Greenhouse Gas Reduction Fund.
Trump administration approves sustainable aviation fuel refinery loan
The energy department of President Donald Trump announced on Tuesday that it had approved the disbursement to Calumet of a loan guaranteed which was finalized just days before his election. This loan guarantee is for the expansion of an aviation fuel refinery located in Montana. Montana Renewables' refinery in Great Falls, Montana, opened its doors in late 2022. It produces biofuels in the amount of 140 million gallons per year. The loan will enable it to increase production to 315 millions gallons per annum and produce approximately half of North American SAF.
US Energy Secretary criticizes net-zero policy in new order
According to a Wednesday order by Energy Secretary Chris Wright, the U.S. Department of Energy prioritizes expanding energy production above achieving net-zero emissions of greenhouse gases. The secretarial orders are meant to align the Department with President Donald Trump's priorities. Trump has called climate changes a hoax, and has pledged to maximize oil and gas production which is already at record levels. According to the order, "Net-zero policy raises energy costs for American households and businesses. It said that the Department would…
Clean energy companies pressure US lawmakers to protect subsides
On Wednesday, U.S. clean energy companies will be heading to Capitol Hill to urge Republican legislators not to eliminate lucrative tax credits that are contained in the landmark climate change legislation of former president Joe Biden. Members of Congress of both parties are being met by hundreds of representatives of firms from the solar, wind, and other renewable energy sectors to promote their role in creating employment and investment, as well as lowering electricity prices and meeting the soaring demand for power from data centers. Republican areas have benefitted from the Biden administration's Inflation Reduction Act since its enactment in 2022…
Senate confirms Chris Wright, a fracking executive, as Trump's Energy Secretary
The U.S. Senate confirmed Chris Wright as President Donald Trump's Energy Secretary on Monday. Wright is a fracking executive. Seven Democrats and an Independent who caucuses alongside Democrats crossed the aisle. Wright, 60 years old, has been the CEO of Liberty Energy, since 2011. He announced that he would step down as soon as the confirmation was received. In a Liberty Energy report published last year, he wrote that he believed climate change caused by humans is real but its dangers are "distant" and "uncertain." He also stated that government policies to combat climate change are doomed to failure. Wright will oversee an agency with a budget of around $50 billion.
Engie continues to see a strong US demand for renewables
Edouard Neviaski, executive vice president of French power company Engie, said that the U.S. is still a major market for the company in terms of renewable energy projects. The U.S. president Donald Trump ordered a stop to spending on the Inflation Reduction Act and Infrastructure Investment and Jobs Act. These climate and infrastructure laws were signed into law in 2009 by his predecessor Joe Biden. Engie signed 4.3 gigawatts in power purchase agreements globally in 2024. This is up from 2.7 gigawatts in 2023. Neviaski stated that there is a high demand for such contracts in the United States. There are some questions about the development of certain renewable projects.
US Democratic lawmakers ask Trump about his blockage of federal grants for clean energy
U.S. Democratic legislators Friday sent letters asking two federal agencies to explain why federal funds were frozen on clean energy investments and federal funds that would lower energy costs for American customers. The agencies had violated federal law, the lawmakers said. Senate Democrats asked the newly confirmed Environmental Protection Agency administrator Lee Zeldin on Friday to explain why his organization froze federal funding that was already obligated for grantees. They claimed that this agency had violated federal law. Democrats on the Senate Environment Committee asked Zeldin to explain why the agency had "clawed-back" funds already committed…
Senate Democrats question EPA's blocking of federal grants committed
Senate Democrats asked the newly confirmed Environmental Protection Agency administrator Lee Zeldin on Friday to explain why his agency frozen federal funds already committed to grantees. They claimed the agency had violated federal law. Democrats in the Senate Environment and Public Works Committee asked Zeldin to explain why the agency had "clawed-back" funds already committed, after hearing complaints from constituents that they were unable access funds for projects such as solar energy and others already underway. The senators wrote that federal law and regulations required that funds be given to grantees in the absence of proof of misuse.
NFE Mexico LNG plant is producing at capacity, the company claims
The company said that it has shipped nine loads from its floating LNG plant off the coast of Mexico, which is operated by U.S. firm New Fortress Energy. Its production rate is 20% higher than its capacity. NFE is struggling to find LNG on long-term contracts for its power generation operations. The company has been trying to improve its finances and raise cash by taking on partners in its primary businesses. It also sold some assets after deferring a dividend for shareholders last year. The Fast LNG floating project, located in Altamira on the Mexican Atlantic coast, has had a rough start in commercial operations.
Handelsblatt reports that Scholz, Germany's Scholz, welcomes the U.S. energy policy turnaround
The German newspaper Handelsblatt reported that German chancellor Olaf Scholz welcomed U.S. president Donald Trump's plans to increase oil and gas exports. He said it was good for Europe and Germany. Scholz stated in an interview that the move will help with the transition towards climate neutrality. This phase would last until the middle of this century. The chancellor stated that "more supply on the market will mean lower energy prices". Scholz praised Trump's desire to build new terminals of liquefied gas (LNG), which his predecessor Joe Biden had not done. Scholz stated that he has always been against stopping the expansion LNG terminals within the United States.
Oil industry unlikely rush to Alaska despite Trump’s call for drilling
U.S. companies will not expand their development in Alaska or the Arctic after President Donald Trump signed an executive order that allows them to do so. Industry representatives and company officials said this, pointing out that a future president would be able to reverse Trump's decision. U.S. Oil Production is Already at Record Levels. This is largely due to the increased production of oil in more accessible areas such as Texas and New Mexico. Companies have also limited their spending on new projects, focusing on returning cash to investors. The executive order will reopen vast regions for drilling and mining and speed up permits for projects.
New Fortress Energy signs a gas supply agreement with Energiza
New Fortress Energy announced on Wednesday that it had signed an agreement with Energiza for the supply of natural gas to a combined-cycle power station in San Juan, Puerto Rico. The plant will be developing a 478 megawatt combined-cycle energy plant. This move coincides with the lifting of the ban on new export permits for liquefied gas by U.S. president Donald Trump, imposed in January 2024 by his predecessor Joe Biden. Biden has halted all new approvals until a study is completed on the economic and environmental effects of the export boom. The study was published in December. New Fortress Energy was granted permission by the U.S.
European firms exposed as Trump targets US offshore wind
U.S. President Donald Trump in his first day of office on Monday suspended new federal offshore wind leasing pending an environmental and economic review, saying wind mills are ugly, expensive and harm wildlife.Former President Joe Biden supported the offshore wind industry, setting a target for 30 gigawatts (GW) of projects by 2030, up from 42 megawatts at the end of 2023, prompting many European project developers to acquire leases and plan wind farms in the United States.Trump's executive order is not expected to stop existing U.S. offshore wind projects from being advanced.Below are some of the European companies involved in the U.S.
Prices rise for low LNG storage and concerns about prices
The wholesale gas prices in the Netherlands and Britain rose mostly on Tuesday morning as withdrawals from storage sites for gas and uncertainty about LNG supply continued to support. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub increased by 0.78 euros to 48.50 euro per megawatt hour, or $14.70/mmBtu by 0914 GMT. The Dutch contract for the month of March was 0.93 euros higher, at 48.58 Euro/MWh. However, the contract for the day-ahead was 0.12 euros lower, at 49.48 Euro/MWh. The front-month contract in the British market gained 2.00 pence, to 123.50 p/therm. Meanwhile, the day-ahead contracts was up by 1.00 pence, at 130.00 p/therm.
Can Trump reverse Biden's offshore oil drilling ban?
In an executive order issued on Monday, President Donald Trump revoked the ban placed by former Democratic president Joe Biden against new offshore oil-and-gas development along most of America's coasts. Trump will face legal challenges regarding his authority. What did BIDEN and Trump do? Biden used his authority, granted by the Outer Continental Shelf Lands Act of 1970, to stop oil and gas drilling in federal waters along the East and Western coasts of the United States as well as the eastern Gulf of Mexico. He also halted the drilling of portions of the northern Bering sea of Alaska. Biden said that the move was in line with his efforts to fight climate change.
