Belgium's king meets Vietnam's leaders, hydrogen deals signed
On Tuesday, King Philippe of Belgium and Vietnamese leaders signed agreements to collaborate in areas such as green hydrogen. The first visit by a Belgian royal to Vietnam is accompanied by a large delegation of businessmen, academics and politicians. According to Vietnamese state-run media, Vietnam's president Luong Cuong described Philippe's visit as a landmark in bilateral relations. According to the EU Council's website, he urged Belgium ratify a 2019 investment protection agreement signed between Vietnam and the European Union. The agreement was signed but still requires ratification by one third of EU 27 member states.
Laos signs clean energy agreement worth $1.45 billion with Chinese industrial company
Laos signed a clean energy agreement worth $1.45 billion with a Chinese manufacturer of power plant equipment as it continues its drive to generate and transmit clean electricity. China Western Power Industrial and a Singaporean construction company signed an agreement with Xekong Thermal Power Plant, Laos. The project will design, supply and build a 1,800 megawatt clean energy power plant in southern Laos. This was revealed in a filing on the Sichuan stock exchange by the Sichuan based company. The project will be completed at the beginning of 2020, and the initial designs should be complete by the end this year. The project's energy source was not specified in the filing.
Russell: Renewables and gas are gaining ground on coal and oil
The latest review of the International Energy Agency shows that renewables and gas are the most popular energy sources. In its Global Energy Review published on Monday, the IEA described this growth rate as "faster-than-average". Electricity, the fastest growing sector, grew 4.3% by 2024 or almost twice the average annual growth rate of the last decade. In 2024, the IEA reported that renewable power capacity increased by 700 gigawatts. This was a record-breaking annual increase for a 22nd consecutive time. With the increase in nuclear power, 80% of global electricity came from low-emissions sources. The IEA review has two main themes.
Vietnam's PM announces that Vietnam will review duties on US LNG and high-tech products
A report on the website of the government said that Prime Minister Pham Minh Chinh had told the U.S. Ambassador to Vietnam that Vietnam was reviewing its duties against U.S. products. This includes liquefied gas, agricultural and high-tech goods. Southeast Asia's industrial hub, which relies heavily on exports to America and enjoys a large surplus in trade with Washington, is scrambling for ways to avoid the reciprocal tariffs the Trump administration has threatened to impose globally to reduce America’s trade deficit. Chinh stated that "relevant ministries and sectors are actively reviewing the import tariffs for goods from the United States.
Gunvor CEO: Global oil supply is growing faster than demand.
Gunvor's CEO, one of the largest oil traders in the world, stated on Monday that global oil supply is growing faster than demand. Last week, oil prices fell to a three-year-low due to a slowdown in demand growth in China as well as concerns over the global impact of President Donald Trump’s protectionist trade policy. "That's the issue." Tornqvist stated that the demand for diesel and gasoline has plateaued in China, which is the second-largest consumer of these fuels. In China, the rapid growth of electric vehicles has slashed gasoline demand. Meanwhile, a growing number trucks that run on natural gas have impacted diesel demand.
Gunvor CEO: Global oil supply is growing faster than demand
Gunvor, one of the largest oil traders in the world, said that the global oil supply is growing faster than the demand. Last week, oil prices fell to their lowest level in three years due to a slowdown in demand growth and concern about the global economic impact of President Donald Trump's protectionist policies. Torbjorn Tornqvist, CEO of Gunvor, said that the demand for energy is still growing in the world but not by a large amount. He made this statement in an interview on the sidelines an industry conference in Houston. Tornqvist stated that the demand for diesel and gasoline has plateaued in China, which is the second-largest consumer of these fuels.
RPT-PowerChina Unit Sues Laos Utility for $555 Million
A review of an arbitration document shows that Nam Ou Power, part of the state-owned Power Construction Corp of China has sued Laos utility Electricite du Laos for $555m in unpaid hydropower dues. According to a source with knowledge of the case, EdL has not yet responded to the filing. The source also stated that this was the first time an entity run by the Chinese government had filed a claim against a Laos-owned firm. As the case is private, it was not possible to identify the person. The details of the case have been reported for the very first time.
PowerChina Unit Sues Laos Utility for $555 Million
A review of an arbitration document shows that Nam Ou Power, part of the state-owned Power Construction Corp of China has sued Laos utility Electricite du Laos for $555m in unpaid hydropower dues. According to a source with knowledge of the case, EdL has not yet responded to the filing. The source also stated that this was the first time an entity run by the Chinese government had filed a claim against a Laos-run company. As the case is private, it was not possible to identify the person. The details of the case have been reported for the very first time.
Ambassador to Washington: Philippines-US defense arrangements will remain intact
Manila's ambassador in the United States, who spoke on Monday, said that existing defence agreements between the Philippines and United States would remain intact under Donald Trump. Jose Manuel Romualdez, a reporter at a forum for foreign media in Manila, said that Ferdinand Marcos Jr., the Philippine president, is willing to travel if Trump can meet him. This could happen in the northern spring. Romualdez responded that "all of this will remain" when asked about U.S. support for security in the Philippines. This includes military financing, patrols on the South China Sea, and Philippine defence installations currently used by U.S. troops under their alliance.
Trump's policies and European demand will tighten the global LNG market by 2025.
The global market for liquefied gas could be tighter this year, as the rising demand in Europe intensifies competition between Asia and North America and offsets new North American supplies at a moment when President Donald Trump’s energy policies and tariffs are also being closely watched. Energy Aspects, a consultancy, said that Europe's LNG consumption is expected to increase by over 14 million metric tones to 101 million tones in 2025 as it replenishes storage facilities for gas and replaces lost supplies after the Russia-Ukraine transit agreement expired at the end last year.
Trump's Policies, European Demand Should Tighten LNG Marke
The global market for liquefied gas could be tighter this year, as the rising demand in Europe intensifies the competition with Asia. This will offset new North American supplies at a moment when President Donald Trump’s energy policies and tariffs are also being closely watched.Energy Aspects, a consultancy, said that Europe's LNG consumption is expected to increase by over 14 million metric tones to 101 million tones in 2025 as it replenishes storage facilities for gas and replaces lost supplies after the Russia-Ukraine transit agreement expired at the end last year.Alex Froley…
Malaysia wants to diversify its energy and supply chain, says PM
Malaysia's premier announced on Thursday that the country wants to optimize its location this year and become a conduit of diversification in energy and supply chains. It also hopes to become a leading player in the semiconductor industry and Islamic Finance. Anwar Ibrahim, the Prime Minister of Malaysia, said that Malaysia's economy had rebounded last year with a influx in strategic investments. Malaysia is quickly becoming a haven for investors in Southeast Asia. Its stable currency and improving economic growth set it apart from its peers who are struggling with political instability and economic uncertainty.
Sources say that Tesla's former China plant head will join renewable energy company Envision
Two sources with knowledge of the situation said that Tesla's former China Plant Manager is expected to join Chinese renewable energy company Envision. One source said that Song Gang, who announced Wednesday his departure from Tesla, will be taking on supply chain management duties for Envision. Envision and Song didn't immediately respond to separate comments. Tesla did not reply to a question about Song's departure. Envision, headquartered in Shanghai, is the largest wind turbine company in the world. It also has research centers in Denmark, the U.S. and Germany.
Singapore's ChemOne delays Pengerang complex's start to 2028
ChemOne Group, a Singapore-based company, has announced that it will delay the start of construction of its Pengerang Energy Complex to the fourth quarter 2028. Construction is expected to begin in mid-2025. This comes after the group secured more funding for the project. The company announced that the project had secured an agreement for funding of $3.5 billion. Alwyn Bowden said that the PEC project will be a major driver for the demand for high-quality aromatics on a medium to long-term basis, as the petrochemicals sector is expected to grow exponentially along with rapid economic growth in East Asia and Southeast Asia.
Solar tariffs in the US will increase prices and reduce profit margins for Southeast Asia
Analysts said that a new round of U.S. import tariffs against Southeast Asian solar panel producers will likely increase consumer prices while reducing producer profits. However, the industry had anticipated this move. The Commerce Department announced new duties on Friday that extend the United States anti-dumping regime to solar cells in Southeast Asia, instead of just finished modules. Citi analyst Pierre Lau wrote in a report that the tariff increase was in line with what had been expected. He added that, in the long run, the duties will encourage the production of goods in the United States and replace imports.
Indonesia talks nuclear technology with US and Russia
A deputy minister of the Indonesian government said on Friday that Indonesia has been in discussions with the United States about developing nuclear power plants. Vivi Yulaswati is a deputy minister in the Ministry of National Development Planning. She said that Southeast Asia's largest economy will be looking to operate nuclear power plants by 2036, in order to reduce its dependency on fossil fuels. In a video-interview, she stated that the program is open to small modular reactors as well as conventional nuclear technology. Nuclear power plants in Indonesia have become a hot topic due to the country's proneness to earthquakes.
Philippines communities challenge dash for fossil gas
The government claims that LNG is an alternative to coal, and the capacity to generate it is required to meet the energy demands of Luzon Island, which is also home to Manila, the capital city, located 110 km (68 mi) north. Many people in Santa Clara, an area adjacent to the port's terminal, claim that respiratory illness has increased dramatically, even among children as young five years old. They attribute this to the LNG plants. Welita Abanil is a 69-year-old Santa Clara healthcare worker. Gas plants in the area have also reduced our fishing income. We have nowhere to go. "It's as if we're waiting to die," she said.
TotalEnergies and BP, Equinor, and Shell each commit $500 mln for energy access
TotalEnergies BP Shell Equinor, oil and gas giants BP and Equinor, pledged to invest $500m on Friday in order to increase the availability of affordable energy, primarily for sub-Saharan Africa and south and southeast Asia. The announcement was made at the United Nations COP29 Climate Summit in Azerbaijan where discussions have focused on raising $1 Trillion in climate finance to assist developing countries from richer nations. TotalEnergies has declined to reveal the name of the global private equity firm that will manage the fund, but says the $500 million will be distributed over several years through tenders for energy-related projects.
Diamond Gas International anticipates LNG glut in the years 2027-2028
Diamond Gas International CEO Diamond Gas said that a global glut of liquefied gas will be forecast between 2027 and 2028 after new projects are completed. Takuji Knzo, at the FT Commodities Asia Summit, stated that the glut of supply will last only two to three more years, as Asia is expected to increase its demand. He said: "It could end quite quickly... Concerning fears that the Trump administration might implement tariffs and stop accepting U.S. LNG cargoes in China, Konzo stated that while cargoes might be rerouted, this would not impact LNG demand and supply. "To me it's just a question of destination." "If China somehow stops buying from the U.S.
Hess reports a quarterly profit increase as Guyana's oil production remains strong
Hess Corp, a leading oil producer in Guyana, beat expectations for the third quarter profit on Wednesday. The Guyana assets have been at the heart of a dispute between Exxon and Chevron that has delayed Chevron’s $53 billion purchase of Hess. Hess agreed on the buyout in October last year, but Exxon has challenged the deal. They claim a right over the company's Guyana-based assets. Exxon will be able to exercise its right of first refusal in May next year after the deal has been approved by the U.S. Federal Trade Commission. Hess increased its production by 16.7%, to 461,000 barrels per day of oil and natural gas (boepd), in the third quarter.
