QatarEnergy Secures LNG Supply Deal with Jera as Demand Surges
QatarEnergy, one of the world's biggest LNG suppliers, signed a deal on Tuesday with Japan's top power generator Jera to supply 3 million tons of LNG annually for 27 years from 2028, further strengthening Qatar's position in the Japanese market.The agreement, made on the sidelines of the LNG2026 conference in Doha, would bolster QatarEnergy's position in Japan as competition intensifies from U.S.
According to QatarEnergy's CEO, the rising demand for AI-powered power could lead to a shortage of LNG in 2030.
Saad Al-Kaabi, CEO of QatarEnergy, said that the growing demand for electricity from AI and data centers, combined with an increase in fuel consumption in Asia and European gas requirements, could turn a global glut of liquefied gas into a shortage by 2030. Concerns about a glut of LNG, which could lower prices, have been raised by a record-breaking?wave? of LNG production, due to come online between 2026-2029.
Electricity Needs for AI, Data Centers May Turn LNG Glut into Gap by 2030
Growing electricity demand from AI and data centres, together with rising fuel use in Asia and European gas needs could turn an expected global liquefied natural gas supply glut into a shortage by 2030, Qatar Energy CEO Saad al-Kaabi said on Monday.LNG coming online between 2026 and 2029 has raised concerns of a supply glut that could depress prices, with projects like Golden Pass LNG on the U.S.
Hokkaido Electric will build a new gas-fired power plant and LNG terminal by the mid-2030s
Hokkaido Electric Power announced on Friday that it would build a new gas fired power station in Tomakomai (northern Japan) and a terminal for liquefied natural gas (LNG) by the mid-2030s. This will be to meet the rising demand of electricity from data centres and semiconductor plants. The project is part the utility's strategy to expand their gas business. They cite significant potential in Hokkaido for a switch towards lower-carbon gas…
Octopus Energy, a UK-based renewable energy company, will trade in China as the relationship between China and the UK strengthens
Octopus Energy is Britain's biggest electricity supplier by share of market. It announced a joint venture with China's PCG Power to trade renewable energy in Asia. This was during UK PM Keir Starmer’s state visit. Octopus Energy is making its first venture into China. Starmer wants to improve relations with China despite the U.S. Donald Trump has warned against doing business with Beijing.
US natgas prices soar by 140% in the Arctic storm, increasing consumer costs
U.S. Natural Gas?Futures have jumped 140% in the last seven trading days. Cash gas and power prices also hit record highs this week, as an Arctic blast sent heating demands soaring, and frozen?oil?and?gas wells cut gas production to a 2-year low. Power prices are expected to rise sharply, putting pressure on consumers already paying higher bills due to the demand for power, particularly from data centers.
S.Africa energy regulator approves power cost relief for ferrochrome makers
South Africa's Energy Regulator approved Eskom's application on Thursday to reduce electricity rates?by 35 percent for two distressed ferrochrome plants that are battling high power costs. In recent years, more than a dozen smelters in South Africa have closed, resulting in thousands of job losses. This is largely because electricity prices have increased by over 900% since 2008.
Australia reaches new renewable milestone over 50%
The Australian Energy Market Operator (AEMO), a'statement made on Thursday,' said that Australia had achieved a clean energy milestone in the quarter ending December, despite a rise of over 2,2% in power demand from a year earlier. The gas-fired generation has fallen to its lowest levels since 2000. Meanwhile, the total electricity production across the National Electricity Market grew 3.1% from one year ago to just under 25,000 megawatts.
GE Vernova's wind failures overshadow the strong performance of power and electrification units
GE Vernova announced on Wednesday that the wind power unit'might suffer a revenue loss of about $250 million this year as a result of 'installation delays in an offshore Massachusetts project. It also said that it was expecting a reduction in its order backlog. The company stated that the failure to install eleven turbines at Vineyard Wind could result in a revenue drop of low double digits and $400 million in losses. The total number of turbines for the project is 62.
Brussels approves $3.4 billion in Spanish state aid to highly efficient power
It announced on Wednesday that the European Commission had approved a 3.1-billion-euro ($3.4-billion) scheme of state aid to Spain to help support electricity production from highly efficient power plants. This comes amid a push by the EU to reduce greenhouse gas emissions. The support will be available for new or substantially renovated combined heat and energy (CHP) plants?using bioliquids, solid biomass, and natural gas.
The French spot price drops due to a slight increase in wind
The French spot electricity price for Thursday dropped as the wind energy supply is expected?to rise from Wednesday's low level. By 0936 GMT, the French baseload for day-ahead fell by 5.7% to 119.75 Euros ($143.45). On Wednesday, the German baseload?day-ahead was untraded at 137.75 Euros/MWh. This is up from 134.20 euros on Tuesday. LSEG analyst Naser Haseemi said that the German spot price will be closely correlated with Denmark…
NextEra eyes nuclear power expansion as data center pipeline grows
NextEra Energy may expand its nuclear fleet in order to provide electricity for?data centres. The giant U.S. energy provider said on Tuesday that they are 'in advanced discussions' to power 9 more gigawatts to the server warehouses. Big Tech's massive data centers have pushed up the demand for electricity in the United States, which has led to historic agreements with electric utilities across the country, including the revivals of several shut down nuclear power plants.
The Islamic Development Bank and the Niger State of Nigeria will collaborate on a $163 million solar energy project.
Officials said that the Niger State Government of Nigeria will collaborate with 'the Islamic Development Bank' to develop a $163million solar electrification project to increase power supply, support agriculture and industry. The project involves the construction of a solar power plant of 100 megawatts in the?north central Nigeria, on approximately 200 hectares. This will provide electricity to several communities throughout the state.
US Northeast spot natgas, power and electricity prices reach record highs due to Arctic blast that boosts heating demand and freezes gaswells
U.S. spot gas and power prices soared in the northeastern region of the country as homes and businesses turned up their heaters. The cold Arctic air had frozen oil and gas wells, and pipes this week. This resulted in gas production dropping to a 2-year low. Pennsylvania's?has jumped by 47%, to a record of $59. In Pennsylvania and Maryland, the price of a megawatt-hour (MWh) soared by 146%.
French baseload prices jump as the wind is expected to decrease, German prices lag
The French baseload contract increased on Tuesday as a result of expectations for lower wind power, higher demand, and a strike in the country's coal-fired power plants. Meanwhile, it is expected that the German market will?fall. LSEG data shows that the French day-ahead power contract jumped by 30.6% at 0929 GMT to?128 euros ($151.91) a megawatt hour. The German equivalent contract increased by 0.9% to 134 Euro/MWh.
PJM, the largest US power grid, issues alerts when storms increase energy demand
The largest U.S. grid PJM announced on Tuesday that it had issued additional alerts to transmission & generation firms, as a'monster winter -storm' looked to be bringing unprecedented energy demand. The operator, who serves 13 states and District of Columbia, sent out Maximum Generation and Load?alerts to companies, asking them to determine if maintenance or testing could be postponed or cancelled to keep the units online during this critical period.
Major Gulf bourses see gains as earnings season progresses
Investors focused on corporate earnings drove the early trading on Tuesday on major stock markets across the Gulf. Saudi Arabia's benchmark indices gained?0.4% led by an increase of 0.9% in Al?Rajhi bank. The bank's net profit was 24.79 billion Saudi riyals, up from 19.72 billion the year before. Al Rajhi announced a dividend of 1,75 riyals per share for the second quarter, a rise of nearly 20% compared to last year's same period.
Canada wants to increase energy trade with India says energy minister
Canada's Energy Minister Tim Hodgson stated on Tuesday that the country is considering boosting its energy?exports in India to diversify its client base and reduce its dependence?on??supply from the United States. Hodgson said at the Indian Energy Week that exporting 98% to the United States is a "strategic? blunder" and saw an opportunity for India to work with him. India will have the fastest growing energy demand in the world…
ADNOC CEO: Oil demand will remain above 100 million barrels per day (bpd) through 2040
The head of the Abu Dhabi National Oil Company (ADNOC), said that 'global oil demand is expected to remain at or above 100 million barrels a day until 2040. Demand for both LNG and electricity are expected to grow 50% or more. The Managing Director and Chief Executive Officer?Sultan Ahmed Al Jaber said at the India Energy Week Conference?on?Tuesday that the electricity demand would be driven by a need to power cooling systems, AI infrastructure and data centers.
India and China reduce electricity emissions to mitigate US coal overdrive
Researchers say that India and China have 'cut emissions by accelerating the deployment of clean energy,' offsetting the?growing? coal use in America and limiting global growth in pollutants related to climate change. According to a CREA report published this month, power sector emissions in China and India, which accounted for 93% the increase in carbon dioxide discharges from the decade up until 2024, decreased simultaneously for the first 52 years.