UK announces plans to reform subsidy schemes in order to accelerate green energy projects
The British Government on Friday announced plans to reform its flagship Contracts for Difference scheme (CfD), which will remove planning obstacles and accelerate green energy projects in particular offshore wind farms. The Department for Energy Security and Net Zero, (DESNZ), has announced that it will relax eligibility criteria for…
Vopak's profits are unlikely to change much by 2025 as one-offs have a negative impact on the 4th quarter results
Dutch tank storage company Vopak said that it expects to see little difference in its earnings by 2025, despite the fact that strong demand for energy-storage infrastructure is boosting its results. Analysts cited a missed quarterly core profit and a cautious outlook as the reason for the 7% drop in shares of this company that operates terminals and stores fuels and chemicals around world.
Moldova names new Energy Minister
Dorin Dzungietu, a gas industry expert from Moldova, was appointed as the country's new Energy Minister by President Maia Sandu on Wednesday morning. He was sworn into office at the Presidential Office. Junghietu replaced Viktor Parlicov who was fired in December after failing to prepare for a possible stoppage of gas supplies for…
Vopak's earnings exceeded its guidance range
The Dutch tank storage company Vopak announced Wednesday that its core earnings for 2024 were above the previously-guided range, due to strong demand across its various business units. The proportional earnings before taxes, depreciation, and amortization (EBITDA), which is the measure of profit before all other costs, rose by 9%, to reach 1.17 billion euro ($1.22 billion)…
In the shadow of tariffs, Europe's markets can benefit from a ceasefire in Ukraine
The markets have bet that a ceasefire agreement between Russia and Ukraine will ease the pressure on energy and euro prices, and also reduce the impact of increased U.S. tensions. Meanwhile, expectations about defence spending has already sent stocks in this sector soaring. Marco Rubio, Secretary of State, arrived in Saudi Arabia Monday to discuss with Russian officials. President Donald Trump ordered U.S.
Breakaway Moldovan Region claims it received gas supplies backed up by Russian loan
Separatist authorities announced on Friday that the pro-Russian Transdniestria region of Moldova, which is a breakaway region, has begun receiving gas under a Moscow loan. Transdniestrian leader Vadim Krsnoselsky stated in a Telegram statement that the Russian loan assistance as well as cooperation with Russia's Ministry of Energy made gas deliveries possible.
Researchers say that China's coal power construction in 2024 is at a 10-year high.
Researchers said that China has begun construction of 94,5 gigawatts in coal-fired energy in 2024. This is the largest number of new projects since 2015. It will hinder the country's move away from fossil fuels. Since 2023, power shortages have prompted a surge in new coal projects. The country is the world's largest coal consumer and greenhouse gas emitter.
Shell's scenarios predict significant LNG growth within the next few years
Shell published scenarios on Wednesday that showed a rapid rise in global demand for liquefied gas. Gas will probably have a gradual increase, and oil could peak at the start of the next decade. The British energy company created three scenarios to model energy security on a long-term basis, but said that these do not reflect their strategy or business plans.
Shell's scenarios predict significant LNG growth within the next few years
Shell published scenarios on Wednesday that showed a rapid rise in global demand for liquefied gas. Gas will probably have a gradual increase, and oil could peak at the start of the next decade. The British energy company created three scenarios to model energy security on a long-term basis, but said that these do not reflect their strategy or business plans.
UK reduces subsidies for Drax biomass power plant
Britain announced that it had reached a new agreement with Drax, which would reduce subsidies to the domestic power producers by half between 2027 and 2031. This will save consumers money while ensuring that the group uses sustainable sources of woody biofuel. The government announced on Monday that Drax's role would be much more limited under the new agreement…
Minister says Canada's Alberta is looking to Japan for new LNG contracts amid US tariff threats
Rebecca Schulz is the minister for environment and protected areas in Canada's Alberta, which is a major producer of gas. She said that expanding into Japan was an important goal in light of a U.S. Tariff threat. Schulz, in an interview with a Japanese journalist in Tokyo on Wednesday evening, said: "The United States is a good example of why we need to diversify the markets we export to.
Operator data indicates that Ukraine will double its gas imports by Wednesday
Data provided by the operator for the state-owned gas transmission system revealed that Ukraine intends to double its daily imports of gas on Wednesday, to 5 million cubic meters (mcm). The operator did explain the reason for the increase. However, temperatures in central Ukraine can fall to minus five degrees Celsius (23 degree Fahrenheit) at this time of the year.
Israel urges the public to install solar panels on their roofs in order to generate electricity
Solar panels are being installed on roofs in Israel to harness the sun's power and help Israel meet its growing demand for electricity. Around 15% of Israel's electric production comes from renewable sources, while about 70% of it is natural gas. The Energy Ministry set a 30% target by 2030, which will increase dramatically by 2050, when the goal of net zero emissions becomes a reality.
Orban: Hungary will block EU Russia sanctions the next time, unless Ukraine gas is transited again.
Hungarian Prime Minster Viktor Orban warned on Friday that he would block the next rollover in EU sanctions against Russia, unless Brussels helped achieve a restart of Russian Gas Transit via Ukraine which was stopped on January 1. Orban said on state radio that Ukraine's decision to stop Russian gas transit into Central Europe, and the price hike that resulted from it, was "unacceptable".
Ukraine's DTEK purchases 200MW energy storage system in bid to reduce outages
DTEK, Ukraine's largest energy private company, announced on Monday that it would purchase storage systems from Fluence Energy with a total capacity of up to 200 megawatts. The storage systems will be used as backup for six power plants. Ukraine faces an energy crisis following Russia's intensified bombardment of its energy sector.
Brazil president signs law authorizing offshore wind development
A statement released late Friday said that Brazilian President Luiz inacio Lula da Silveira had signed into law the bill authorizing offshore wind farms. The move was made to improve the energy security of the country and spur a wave investment. In a statement, it was stated that the new law provides incentives for the development offshore energy projects within Brazilian territorial waters.
Sources say that OMV's Romanian subsidiary has agreed to supply gas to Germany
Three people with knowledge of the situation have confirmed that OMV's Romanian subsidiary has signed a contract to supply Uniper gas from its Black Sea Project starting in 2027. This comes as Europe looks for new ways to increase energy security following the breakup with Russia. The deal, which was not disclosed before, is for a…
Sources say that Austria's OMV Romanian unit has agreed to supply gas to Germany
Three people with knowledge of the situation have confirmed that Austria's OMV Romanian has signed a contract to supply Germany's Uniper gas from its Black Sea Project from 2027. This is as Europe looks for new ways to increase energy security following its breakup with Russia. The deal, which was not disclosed before, is for a five…
Sources: Austria's OMV has agreed to supply Romanian Gas to Germany
Three people with knowledge of the deal said that Austria's OMV will supply Germany's Uniper gas from its Black Sea Project from 2027. This comes as Europe looks for new ways to increase energy security following the breakup with Russia. The deal, which was not disclosed before, is for a five-year supply of 15 terawatts of natural gas to be delivered by the Neptun Deep Project.
Biden bans offshore oil and gas drilling before Trump's term
The U.S. president Joe Biden has announced that he will ban all new offshore oil and natural gas development along the majority of U.S. coasts. This is a decision which President-elect Donald Trump who has pledged to increase domestic energy production may find hard to reverse. Biden, according to the White House on Monday, will exercise…
