INSIGHT- West scrambles fill the heavy rare earth gap, as China rivalry intensifies
Western efforts to create a domestic magnets supply chain in order to reduce their reliance on China, led by the massive U.S. support for Nevada-based MP Materials, are running into a major problem: a scarcity of heavy rare earth elements. United States and its allies are scrambling to find an alternative supply chain for super-strong rare earth magnetic components, which are essential in everything from electric vehicles and defence technology to electronics and windmills. MP Materials has ambitious plans for producing magnets in the next few years. This is backed by a deal signed with the U.S. Government that included billions of dollars.
Energy Transition' Future: Fractured, Bumpy and Long
As COP30 kicks off its second week in Brazil, much has changed since the landmark Paris climate agreement was penned 10 years ago.The spirit of cooperation that once reigned has been shattered by economic rivalries and a stark divergence in climate policies among the world’s biggest polluters.The landmark UN COP21 climate agreement signed in Paris on December 12, 2015 saw 195 nations commit to setting binding targets to reduce greenhouse gas emissions to limit global warming to "well below" 2 degrees Celsius above the pre-industrial levels. The ambition has in recent years been strengthened to 1.5 degrees.Ten years on…
India permits 1.5 million tons of sugar exports due to higher domestic surplus
India has allowed 1.5 million metric tonnes of sugar to be exported in the new season. The government announced this in a Friday notification, as it is expected that a decrease in sugar being diverted for ethanol will result in a greater domestic surplus. Sugar futures in New York and London could be impacted by higher exports from the second largest sugar producer in the world. These futures are currently at five-year lows. Exports are expected to reduce sugar stock in the country, and help support local prices. Producers such as Balrampur Chini Mills and EID Parry will benefit from this.
Saudi Aramco to Sign US LNG Supply Agreements
Saudi Aramco is set to sign two U.S. liquefied natural gas supply deals with Woodside Energy and Commonwealth LNG when Saudi Arabia's Crown Prince Mohammed bin Salman visits Washington next week, sources familiar with the matter told Reuters.The world's largest oil exporter, Saudi Aramco, wants to become a major liquefied natural gas player, especially in the United States, where LNG capacity is set to almost double over the next four years. It has already signed deals with other U.S. players, including NextDecade's Rio Grande LNG.The firm targets 20 million tons per annum (mtpa) of LNG capacity…
How much will the price of ROI-LNG drop by 2026? Russell
The market for liquefied gas is bracing itself for an increase in supply, mostly from the top exporter, the United States. However, it is not clear how low the spot price will need to fall to clear these additional volumes. According to commodity analysts Kpler, the global supply of super-chilled gasoline is forecast to reach 475 million metric tonnes in 2026. This represents a 10.2% increase over the 431 millions tons predicted for 2025. This figure is comparable to South Korea's total annual demand, which is the third largest LNG importer in the world behind China and Japan. Go Katayama, Kpler's principal LNG expert, told a Sydney seminar on Thursday that the U.S.
Datagro reduces sugar surplus forecast by 1 million tonnes on Brazil and India
Datagro, a consultancy, said that the global sugar market will have a smaller than expected surplus for 2025/26, which began in October, due mainly to production cuts made in Brazil and India. Datagro announced in a conference call with its clients that they were reducing their estimate of the global sugar surplus for 2025/26 to 1 million metric tonnes, down from 2.8 millions tons previously forecast. The sugar production in Brazil’s center-south sugar belt will drop towards the end this year as mills close early and change their strategy by using less cane for sugar and more for fuel ethanol.
Argentina's YPF anticipates La Angostura Sur will produce 80,000 bpd over the next few years
Maximiliano W. Westen, Vice President of Strategy at YPF, said that the company expects to produce more than 80,000 barrels a day in its La Angostura Sur Block over the next few years. YPF executives told analysts that despite reporting a loss of $198m in the third quarter, they are on track to meet their 2025 forecast, as shale production has surged. The company expects to surpass its December 2025 target of 190,000 barrels a day. Argentina depends on the Vaca Muerta operation of the company in its drive to become a Net Energy Exporter, as this huge formation is responsible for 64% the country's production of oil. Only 8% is currently under development.
India plans 1.5 mln ton sugar export quota on higher domestic surplus
India will allow 1.5 million metric ton sugar exports in the upcoming season as the government and trading sources said on Monday. This is because a decrease in sugar diversion for ethanol production should leave a greater domestic surplus. Sugar futures in New York and London could be impacted by higher exports from the second largest sugar producer in the world. These futures are currently at five-year lows. Exports are expected to reduce sugar stockpiles in the country, which will support local prices. Producers such as Balrampur Chini Mills and EID Parry and Dalmia Bharat, who saw their shares rise up to 5% on Monday morning, stand to benefit.
YPF and Eni sign an agreement with ADNOC’s XRG for the development of Argentina LNG project
YPF, Argentina and Eni, Italy have signed an agreement for the Abu Dhabi National Oil Company’s XRG Investment arm to participate in a liquefied gas project related to Argentina’s Vaca Muerta Field. In a press release issued during the Abu Dhabi International Petroleum Exhibition and Conference, YPF CEO Horacio Martin said that the incorporation of XRG "strengthens a critical initiative for the future energy of the country" and will enable Argentina to become a "world class" LNG exporter. Eni and the Argentinian oil company YPF have signed a final engineering contract in October for the export of gas from the Vaca Muerta Formation…
US Energy Secretary: There are many opportunities for mutually beneficial energy trade with China
Chris Wright, the U.S. Energy secretary, said that there are many opportunities for a "win/win" energy trade between China & the United States. Donald Trump, the U.S. president and Xi Jinping, the Chinese president, reached a fragile truce on trade in South Korea Thursday. The agreements were on China's purchases of soybeans and exports of rare earths. There is room for a great deal of energy trade between China & the United States. China is the world's largest natural gas importer. The United States is the world's largest natural gas exporter. There's a lot to gain there," Wright told journalists on the sidelines a G7 summit of energy and environment ministers in Toronto.
Malaysia shifts from coal to a mix of solar, gas and electricity
Malaysia will shift away from coal and focus on solar power, said the CEO of the state utility Tenaga Nasional on Wednesday. He added that using renewable sources would keep costs low. Southeast Asia's 35 million-strong nation has increased its coal-fired fleet in order to lower electricity costs. However, it plans to increase the use of solar and natural gas - with the latter being cheaper but the former more flexible. Solar is cheaper per unit than coal and gas. In an interview, Megat Jalaluddin, CEO of TNB said that the best option is to have a mix that will address affordability.
JPMorgan selects Perpetua Resources as the first investment in its $1.5 trillion security funds
Perpetua Resources, an antimony and gold mining company, is the first investment made by JPMorgan Chase’s $1.5 trillion fund to support U.S. National Security. This underscores the company’s important role in producing the metal that China has banned and is used for bullets and weapons. JPMorgan, whose details were revealed on Monday, will invest $75m of its own money for a stake of nearly 3% in Perpetua. Perpetua is building the biggest U.S. mine of antimony about 138miles (222km) north of Boise. The agreement was signed Sunday and expected to be closed on Tuesday. LSEG data shows that the bank currently holds 20,000 shares in Perpetua.
U.S. natural-gas sector deals will surge in 2025 due to AI and LNG demand from Asia
Analysts say that U.S. Natural Gas dealmaking is expected to increase in 2025, due to the record demand for power from AI data centres, increased LNG exports, and renewed Asian investments. According to the U.S. Energy Information Administration, data centers will be responsible for a surge in electricity demand that is unprecedented this year. The price of benchmark gas dropped sharply last year, from the multi-decade highs set in 2022, after sanctions against Russia slowed negotiations. However, a rebound followed, as well as long-term LNG demand and domestic sales, have kept global buyers interested.
US and Qatar fill the gap left by EU's ban on Russian LNG imports
PARIS/LONDON - According to analysts and data, the European Union can replace Russian LNG imports from 2027 with an alternative supply without any major price shocks. This is due to booming projects being undertaken in the United States of America and Qatar. The EU approved new sanctions on Russia Thursday for its conflict in Ukraine. These sanctions ban Russian LNG imports starting January 1, 2027. This is a year sooner than originally planned. The EU's energy payments to Moscow are now under scrutiny again after U.S. president Donald Trump demanded the European Union cease all purchases.
German spot prices fall on strong wind supply
German spot prices for Friday were lower than the French equivalent price, as wind production is expected to increase and demand is seen declining. LSEG analyst Naser Hazemi stated that Germany's wind power production is increasing, and the solar industry has also increased. Lower demand, coupled with a higher supply, will reduce residual load. France, on the other hand, may become a net exporter, due to its bullish economic conditions. By 0956 GMT, the German baseload day-ahead contract was down 65.2% to 27.40 Euros ($31.95). The French equivalent contract increased by 77.8% to 32 euros/MWh.
Venture Global receives permission to add natural gas to the final LNG block of Plaquemines Plant
Venture Global has received approval from the Federal Energy Regulatory Commission to add natural gas to the final block at its Plaquemines LNG Export Facility in Louisiana, according to a Federal Energy Regulatory Commission filing. Venture Global's approval by FERC means that it could begin producing liquefied gas at its Plaquemines facility this week. This is more than a full year before the company expects to deliver its first batch of long-term clients with the gas they have contracted. Venture Global, which is the second-largest LNG exporter in America…
Venture Global to add natural gas to final part of Plaquemines LNG Plant, a filing shows
Venture Global asked federal regulators to allow it to inject natural gas into the final section of its Plaquemines Liquefied Natural Gas plant by Thursday, according to an official filing made on Monday. Venture Global, if the Federal Energy Regulatory Commission gives the permission, will be producing LNG soon from its entire Plaquemines facility, and more than a full year before it's expected to deliver its first batch of long-term customers their contracted quantities of gas. The Plaquemines Export Facility in Louisiana, once completed, will reach its maximum capacity of 27,2 million metric tonnes per year (mtpa).
NextDecade receives positive FID for Train 5 of the Rio Grande LNG Project in Texas
NextDecade, a U.S. producer of liquefied gas, announced on Thursday that it had made a final investment decision in favor of the fifth liquefaction train (also known as a liquefaction station) for its Rio Grande project. The company's shares rose by over 4% during extended trading as this announcement marked the 5th positive FID of an LNG project in the U.S., the world's biggest exporter of super-chilled fuel. After President Donald Trump lifted his moratorium on new LNG export permits shortly after assuming office in January, the U.S. LNG industry has seen an increase in commercial activity.
EU rules to ban 'backdoor' Russian oil
A document published Thursday reveals that the European Union requires fuel importers to prove that their fuels were not made with Russian crude. The document gives guidance on the EU’s forthcoming ban on fuels refined from Russian oil, as part of its 18th package of sanctions against Russia for its war in Ukraine. The ban will take effect on January 21, 2019. WHAT IS THE EU ADVISE TO IMPORTERS? Operators are expected to give EU Customs "appropriate proof" of where the crude oil that was used to refine the fuel came from. However, there are some important exceptions.
North American LNG Exporters Look to Double Capacity by 2029
Liquefied natural gas exporters in the U.S. have announced plans to more than double U.S. liquefaction capacity, adding an estimated 13.9 billion cubic feet per day (Bcf/d) by 2029, the U.S. Energy Information Administration said on Thursday.The EIA cited its Liquefaction Capacity File and trade press reports for the forecast, and added that the U.S.