IGU Executive: Iran War has caused global gas prices to be tightened due to the prolonged Iran war
A top executive in the industry said that global gas markets will continue to 'pricing out' tight supplies despite the fact that winter is still a long way off. The Iran war has disrupted Gulf liquefied gas exports, and Europe’s efforts to rebuild its gas stocks have been complicated by this. As Europe competes against Asia to secure LNG cargoes…
Israeli Energy Ministry Plans to Boost Natural Gas Output
Israel's Energy Ministry said on Thursday it plans to expand natural gas production that would boost competition within Israel and increase exports.An inter-ministerial committee headed by the ministry issued final recommendations aimed at the need to raise natural gas output to meet domestic needs, encourage investment and accelerate the transition to renewable energy.Recommendations were approved by Israel's e
Highlights of Mark Carney's speech as Canadian Prime Minister in Strasbourg
Mark Carney, Canada's prime minister, called for a strategic alliance between the European Union and Canada. He also proposed joint efforts in the areas of critical minerals, artificial intelligence, defence, and trade. Carney's remarks came a day after Ursula von der Leyen, President of the European Commission, said that she was preparing…
IEA chief: Electrification is the best way to go despite AI investment jitters
The International Energy Agency chief stated on Thursday that the'shift towards electrification' was firmly supported?by capital market despite ongoing challenges with?grid capacity and affordability. When asked about the risks of excessive investment in power infrastructure and concerns regarding artificial intelligence investments being slowed down due to fears of existential risk…
JERA expands its trading portfolio, and expects to sell more LNG overseas
The head of JERA's new global LNG unit stated that the company expects to sell more natural gas outside Japan in the next two-year period as it expands its trading portfolio. This will help to safeguard energy security from volatile power demand. JERA Global Energy Solutions (JERA-GES), the Singaporean entity that was launched in July of this year…
Thailand's PTT is looking for new LNG sources such as Oman and Canada.
PTT, Thailand's largest gas company, is seeking new sources of?liquefied, natural gas, such as Oman and North America, as well as West Africa, to diversify their portfolio in the face of a?geopolitical upheaval. In Southeast Asia, the?largest?LNG importer relies on spot supply to meet half of its demand. Thailand increased its imports of US LNG this year…
Petronas and PTT units receive approval for a new gas contract in Malaysian-Thai joint area
Malaysian state-owned energy company Petronas announced on Monday that its 'unit, along with subsidiaries of Thailand PTT's 'have received approval from both governments for the new?production share contract (PSC)?for a large gas-producing?block?in their joint area. This approval comes at a time when Asian gas buyers are seeking greater…
Japan signs first LNG supply agreement with Malaysian Petronas
The Japan industry ministry announced on Friday that the country had signed a deal with Malaysia's Petronas to procure liquefied gas for an emergency. The master sales and purchasing agreement will allow Petronas LNG to be delivered to the Japan Organization for Metals and Energy Security. This organization would then supply private buyers such as utilities if they could not obtain it anywhere else.
Italy accelerates oil and gas projects to ensure energy security
Italy took measures on Thursday to boost 'domestic oil production and reduce dependency on fossil fuel imports, said Prime Minister Giorgia Meloni. According to official statistics, Italy produces around 29 million barrels per year of crude oil, mostly in the southern region Basilicata. It also produces approximately 3 billion cubic meters of natural gas.
How China's oil giants helped Beijing prepare an energy crisis
China's oil companies are at the forefront of Beijing prioritising energy security in the last decade. They have made investments that have helped to soften the impact of the closing of the Strait o'Hormuz. Sinopec PetroChina and CNOOC Ltd. have spent hundreds billions of dollars on drilling in China, while building and filling oil storage tanks for Beijing's energy security mandates. Since the U.S.
Council says global clean hydrogen investments top $130 billion as energy security push is pushed.
The Hydrogen Council announced on Thursday that the global cumulative investment in clean?hydrogen?projects had topped $130billion. Governments are increasingly viewing the fuel as an instrument?for energy?security and?industrial?growth?alongside?decarbonisation. In its Global Hydrogen Compass 2026, released alongside the Hydrogen Ministerial Meeting held in Tokyo…
India increases biofuel usage amid increasing crude supply risks
India wants to use more 'biofuels' to improve its energy security, as disruptions in 'crude supply' are pushing 'oil prices' higher, according to Tarun Kapoor. Kapoor said at an industry conference that the Iran war had highlighted the difficulties of maintaining a continuous supply of crude oil. Iran announced that it had attacked 10 ships in the Strait of Hormuz on Wednesday after the U.S.
Auditors say EU's Russian Energy Exit is failing
Auditors said that the EU's efforts to be independent of Russian oil and gas are faltering as it heads into winter with unusually low stocks. The European?Court of Auditors stated?in a recent report that?the?EU?is not investing enough in order to achieve its aims of replacing Russian energy by diversified fossil fuels and expanding renewable energy…
EnergyPathways Selects Jacobs as Tier-1 Engineering, Regulatory Partner
EnergyPathways, an energy transition company, has selected Jacobs to provide planning, regulatory, consenting and environmental services for its proposed LDES project in the Irish Sea and Barrow-in-Furness. This includes assisting the Company in its submission to Ofgem's forthcoming Long Duration Energy Storage Cap and Floor round.MESH…
European Investment Bank lends Elia EUR1 Billion for Princess Elisabeth Energy Island
The European Investment Bank has granted a EUR1billion ($1.2billion) credit facility to Belgian electricity transmission network operator 'Elia' for its Princess Elisabeth Island energy project in North Sea. The artificial island will be located 45 km off the coast of Belgium. It is Elia's flagship project and will act as a major piece…
The Times reports that the UK will approve Jackdaw Gas Field development in this month.
The Times reported that government sources said Britain would approve new drilling on September 15 to 'develop Shell and Equinor’s Jackdaw North Sea gas field. Shell and Equinor were forced to reapply in 2025 under stricter regulations following a ruling by a court after a legal challenge filed by climate activists. The Department for Energy Security spokesperson said that it would not comment on speculation.
Nigeria Looks to Double Energy Investment Within Five Years
Nigeria could double investment into its energy sector within five years after joining the International Energy Agency, its chief Fatih Birol said on Thursday, as nations seek partners they can "trust" after supply disruptions from the wars in Iran and Ukraine.Speaking during a visit to Abuja, Birol told Reuters that Nigeria's admission…
Australia's new shale-basin Beetaloo delivers first gas
The first gas flowed from the Beetaloo Basin in Australia to Darwin, Tuesday. Developers hope that this will show a steady flow of gas and allow for the commercialisation of Australia's first shale-gas venture. Tamboran Resources, along with its partner Formentera Partners of Texas, delivered gas from the Shenandoah Project, located in the desert more than 600 km away (373 miles)…
How do Caracas, Washington and other countries structure a huge oil production deal?
Venezuela and the U.S. announced a large-scale oil-production agreement last week. To develop even a small portion of the 64 billion?proven reserves in the 17 oilfields that are included in the agreement, a complex three-layer structure is required. The pact, if completed in the form it has been negotiated so far, will provide a 'base…
Energy Minister: Norway will drill in Arctic regardless EU's position
Norway will develop its oil and natural gas resources in Barents Sea despite the European Union’s support for a moratorium of Arctic hydrocarbon supplies. Energy Minister Terje Aasland said Norway no longer views itself as Europe’s “green?battery”. Norway is now Europe's biggest natural gas supplier, and supplies around 30% of the demand for gas in both Europe and Britain.