Sources confirm that Egypt has awarded the tender for 20 LNG winter cargoes to Egypt.
Four trading sources said on Friday that Egypt's recent bid for 20 cargoes (cartons) of liquefied gas to cover winter demand following a sharp decline in domestic production has been fully allocated. It is the first time Egypt issued an tender to cover the winter demand since 2018. This year, the most populous Arab nation has become a net gas importer.
Spain, a leading olive oil producer, uses olive stones as fuel
David Jimenez Zamora, a farmer in Spain, barely batted an eyelid when the price of gas and electricity soared due to the energy crisis. The Spanish man kept the heated pool and hot water flowing for up to 26 guests in his 18th century farmhouse. What is his secret? Olive stones. The 48-year old said, "We…
Sources say Egypt is seeking 20 LNG cargoes to meet winter demand, as the gas crisis worsens.
Three trading and industry sources confirmed on Friday that Egypt issued a tender for 20 cargoes (cartons) of liquefied gas to meet the demand for electricity during winter, despite a sharp decline in domestic production. It is the first time Egypt issued an tender to cover the winter demand since 2018.
Orsted Energy shuts down last coal-fired power plant
Orsted, a Danish company, announced on Thursday that it will close its last coal-fired units this week. This marks a significant milestone in the transition of Orsted to fossil-free power generation. Since selling its oil business in 2017, the company, which was formerly called DONG Energy has pioneered offshore energy.
Greece's Sole LNG Terminal Ramps Up Imports to Replace Russian Gas
Greece has cut Russian gas imports by more than half this year thanks to increased deliveries from other producers to its sole liquefied natural gas (LNG) terminal near Athens, the country's gas grid operator said on Thursday.Greece has relied on Russia for about 40% of its gas needs for years but it has…
Gas Prices Soar in Europe on Tight Russian Supply
European gas prices soared more than 30% on Tuesday as low supplies from Russia reignited concerns about an energy crunch as the region heads for colder weather.A key pipeline which normally delivers gas from Siberia to Europe continued to work in reverse on Tuesday, traders said, sending flows from Germany to Poland…
Investors on Board as U.S. Oil Majors Dismiss Wind and Solar Projects
Top U.S. oil firms are doubling down on drilling, deepening a divide with European rivals on the outlook for renewables, and winning support from big investors who do not expect the stateside companies to invest in wind and solar. Among a dozen U.S. fund managers contacted by Reuters from companies overseeing about $7 trillion in assets…
Sandia’s Combustion Research Facility Celebrates 40th
The weather on March 6, 1981, was nothing too remarkable for the San Francisco Bay Area — a little drizzle with temperatures in the 50s and fairly calm wind. The remarkable event that day was taking place on Sandia National Laboratories’ California campus, but even those who participated in the opening of…
World's Largest Ocean Current Energy Project On
OceanBased Perpetual Energy has signed a Memorandum of Understanding (MoU) with Florida Atlantic University’s Southeast National Marine Renewable Energy Center (SNMREC) to assist the company to develop commercial ocean current energy project.Project to tap into Florida Gulf Stream’s 45 terawatt hours per…
Japan's LNG Imports Slide to Lowest Since May 2016
Japanese imports of liquefied natural gas (LNG) in June fell to the lowest in more than two years as the country's utilities switched on more nuclear reactors that had been shut in the wake of the Fukushima atomic disaster in 2011.Japan has six reactors operating and three others have passed safety inspections and could be operating by October…
Barclays, US FERC Near Settlement of Market Manipulation Lawsuit
British bank Barclays Plc and the U.S. Federal Energy Regulatory Commission (FERC) made "substantial progress" toward a settlement of FERC's proposed $435 million fine against the bank for alleged power market manipulation, according to court documents. The Barclays penalty, if there is one, could be the…
Norway races Australia for Japan's Hydrogen Business
Norway may provide cleanly produced hydrogen to Japan; but Australia hopes to export the fuel extracted from brown coal. Norway and Australia are racing each other to show they can supply Japan with hydrogen, hoping to fulfil its ambition to become the first nation significantly fuelled by the super-clean energy source.
China's Utilities Ready for Coal Buying Spree
China's utilities are readying for a months-long buying spree to shore up thermal coal reserves ahead of the hotter summer months, sources say, in a strategy aimed at averting a supply crunch but which may drive prices higher. Top power generating companies will need to purchase more than 40 million tonnes…
Japan Pays Dearly for U.S. Shale Cargoes
Japan in January paid nearly twice as much for liquefied natural gas (LNG) derived from U.S. shale gas as it did for its cheapest imports, official trade data showed on Friday. Shale gas from the United States had been touted as a panacea to Japan's energy crisis after the Fukushima nuclear disaster nearly six years ago.
Ukraine Faces Energy Crisis As Blockade Cuts Coal Supply
Ukrainian authorities vowed on Thursday to restore coal supply from the separatist-held Donbass and warned that a blockade by activists could deprive millions of heating and electricity, harm the steel industry and cost the country some $2 billion. Ukrainian President Petro Poroshenko said the blocking of…
US DoE Unfairly Criticized: Kemp
The U.S. Department of Energy has become a lightning rod for criticism in parts of the Republican Party and the fossil fuels industry unhappy about the Obama administration's energy and climate policies. Presidential candidate Rick Perry promised to abolish the Department of Energy along with the Departments of Commerce and Education during a debate in 2011.
Trump May Not be Able to Save U.S. Coal
Donald Trump's election has thrown an apparent lifeline to beleaguered coal producers but he may not be able to do much to revive the fortunes of the industry. The U.S. coal industry has been a victim of the shale revolution and the enormous quantities of cheap gas that have been unleashed by hydraulic fracturing and horizontal drilling.
Egypt's Siemens Power Plants to go online
Power plants built by Germany's Siemens in Egypt are set to go online in December this year and will reach full capacity in May 2018, the Egyptian prime minister's office said on Sunday. Egypt signed an 8 billion-euro ($8.9 billion) deal with Siemens in June 2015 that calls for three combined-cycle power plants with a capacity of 4…
Douglas Westwood: Has the Shale Oil Rig Count Finally Hit Bottom?
As an indicator of the turmoil that has hit the US oil & gas services sector the Baker Hughes rig count is hard to beat. From 1,931 rigs drilling in September 2014 the count has declined to a total of 408, dramatically reducing activity and jobs for drillers, service companies and suppliers alike. Unconventional activity has been hit hard.
Petrobras Argentina Extends Concession in Vaca Muerta
Petrobras Argentina said it has an agreement to extend a shale gas concession for 35 years in the South American country's Vaca Muerta region. According to a securities filing on Thursday, the plan would include a five-year pilot project to develop so-called tight gas by drilling 24 wells. Omar Gutiérrez…
