Hungarian energy company MVM is ready to phase out Russian Gas if necessary
Hungary's MVM state-owned group can still supply gas to the country even if Russian imports are stopped, but prices will probably rise, according to its chief executive. As part of a move to reduce the EU's energy dependence on Moscow over decades, the European Union decided on Wednesday to stop importing Russian gas by 2027. Short-term pipeline gas contracts will be affected as early as June 2026. Hungary, a landlocked country, opposes this move and has said that it will challenge the legislation before the EU Court of Justice. Karoly Matrai is the CEO of MVM.
Romanian Brazi Power Plant resumes operation after being shut down by the state
Romanian energy company OMV Petrom is majority owned by Austrian OMV. Its 860 MW, gas-fired Brazi Power Plant has resumed operation after being forced to close due to water restrictions in the Paltinu Dam, which it relies on. According to the company, Brazi's power plant will soon be operating at full capacity. The plant supplies about 10% of the electricity in the country. The Energy Ministry said that 300 MW had been reconnected with the national grid. The plant was operating at a reduced capacity since November 30, and shut down completely on Tuesday.
Indonesia reverses its decision to retire Cirebon coal-powered plant early
Indonesia's chief economic minister stated on Friday that it was unlikely to proceed with its plan to retire Cirebon-1 early. However, the country is evaluating other coal-fired power plants to be shut down early. Cirebon was seen as a case study for early retirements of coal-fired plants in developing nations under the Just Energy Transition Partnership, a G7 funded initiative. Indonesian authorities missed a deadline last year after originally agreeing to shut down Cirebon by 2035, seven years before its expected lifespan. They also raised concerns over potentially higher electricity subsidy costs.
Shell-led LNG Canada’s second processing unit is still down, according to sources
Two sources have confirmed that Shell-led LNG Canada’s second processing unit known as Train 2 is still down almost a month after it was first started up. On November 20, the company announced that a restart was scheduled for December 1, and would last approximately two weeks. On Thursday, a spokesperson for LNG Canada stated that it would provide an update this week. The complex, located in Kitimat (British Columbia), is the first major LNG-export facility in Canada, and the first in North America's West Coast. . LNG Canada will export 14 million tonnes of LNG annually when fully operational.
Serra Verde cancels China offtake deal after being approached by Western firms
Serra Verde, a Brazilian rare earths mining company, has reduced the contract durations of its Chinese processing agreements, allowing it to potentially supply Western companies once their separation capacity is available in the coming years. China is the largest supplier of rare earths in the world, and 90% of it is processed. This makes it vital to electronics, defence, electric vehicles, wind turbines and other industries. Serra Verde, when developing its mine, agreed to 10-year deals with Chinese companies for the purchase of its concentrate. Serra Verde is rich in heavy rare Earths unlike other Western deposits.
Minister says 60% of Morocco's water will be supplied by desalination
Rabat, the capital of Morocco, is accelerating investment in renewable energy-powered desalination plants, and plans to increase its supply of drinking water by 60% by 2030. This will be up from 25%. It is vital to maintain a steady supply of water and the status of Morocco as a major producer and exporter fresh produce in an era of climate change. Droughts have dried up many of its water reservoirs, and underground resources are depleted. Nizar Baraka, speaking on the sidelines at the World Water Congress held in Marrakech on Thursday…
Sources say Exxon will permanently close one steam cracker plant in Singapore by March.
Four sources familiar with the situation said that ExxonMobil will cease operations in March at the older steam cracker on Singapore's Jurong Island. This is part of the global trend of the petrochemicals industry to reduce capacity due to losses. Two sources stated that the shutdown of the plant which was opened in 2002 is expected to be completed by June. Two sources declined to identify themselves because they weren't authorised to talk to the media. Chemical producers are struggling with the losses caused by overcapacity, mainly due to China.
East Timor President says that improved trust will drive long-stalled project
East Timor’s president is confident in what he called a new era goodwill between Canberra, Woodside Energy and his country. This will finally allow the development of an important gas project to proceed after years of delays. Woodside and East Timor have agreed to study a project of 5 million metric tons at the Greater Sunrise Fields, an area that contains an estimated 5.1 trillion cubic feet of gas. Australia has been talking about this since the 1980s, originally with Indonesia. Jose Ramos Horta, a spokesperson for the Australian government and Woodside Energy…
Saudi Finance Ministry says Aramco Jafurah Gas Plant has begun production
Saudi Finance Ministry announced on Tuesday that the first phase of Aramco’s Jafurah Gas Plant is completed and production with a capacity 450 million cubic foot per day has started. The ministry included the achievement in its budget statement for 2026. Jafurah could be the largest shale-gas project outside of the U.S. It is expected to achieve sustainable production levels of 2 billion cubic foot per day by 2030. Aramco's CEO Amin Nasser said that the first phase of the project was expected to be completed by the end this year during a quarterly earnings call held last month.
Spot prices increase on lower wind output
The European spot electricity prices rose on Tuesday as the wind generation output is expected to decline in France and Germany. LSEG data shows that the German baseload day-ahead power price at 0943 GMT was 102.50 Euros ($119.09 per megawatt-hour), up 9.7% on Friday's closing price for Monday delivery. Data showed that the equivalent French price for Monday delivery was 82.25 Euros/MWh. This is a 5.4% increase from the Friday price. LSEG data indicated that on the supply side German wind power output was expected to decline by 1.3 gigawatts, to 23.1 GW, while French wind production is forecast to fall 2.1 GW, to 8.8 GW.
Australia's APA joins Queensland in building Brigalow Power Station
The APA Group, an Australian company, announced on Monday that it had agreed to build the 400-megawatt Brigalow Peaking Power Station in Queensland proposed by CS Energy. According to a research note by RBC Capital Markets, this is the first major GPG investment made by APA in a long time. The plant is expected to begin operations in 2028, next to CS Energy’s Kogan Creek facility. It was designed to stabilize supply during times of high demand or intermittent renewable output. APA will fund the project early and will eventually acquire 80% by mid-2026. CS Energy will maintain a 20% stake in the plant and will operate it.
French prompts to be cut by more than half due to forecasted weaker demand
The French spot electricity prices fell on Friday on the back of forecasts for higher temperatures and a stronger wind supply. Germany's prices, however, were not traded but were bid lower. LSEG’s day-ahead analyses cited a lower residual load overall in Germany, which meant fewer thermal plant requirements, with some intraday variations. LSEG data indicated that the electricity demand for the day ahead will probably fall by 1.8 gigawatts to 63.4 GW in Germany, and by 5.3 GW to 62.5 GW in France. LSEG data shows…
Japan's Kashiwazaki-Kariwa nuclear plant could restart in January, Jiji reports
Jiji News Agency quoted the director of the Kashiwazaki Kariwa Nuclear Power Plant, Japan's largest nuclear plant. The restart could happen as early as January, pending the consent of regional authorities. Last week, a regional governor in Japan gave his approval for a partial restart at the plant. This is as Japan attempts to revitalize its nuclear sector while reducing fossil fuel imports. Niigata Prefecture Assembly is scheduled to vote on this decision in its regular session starting on December 2. The Unit No. 6 at Kashiwazaki-Kariwa can be restarted as early as January, if the consent process is complete by the end the year.
Abu Dhabi's GSU launches $1 billion energy project in Yemen
On Wednesday, the United Arab Emirates announced that it would launch energy projects in Yemen worth $1 billion to help rebuild its energy sector. These will be implemented through Abu Dhabi-based Global South Utilities. GSU announced in a press release that the agreement would see the company develop a portfolio of projects including solar and wind energy, as well as distribution networks throughout the country. Yemen has been suffering from an electricity crisis for almost 30 years, caused by fuel shortages. The national power infrastructure was severely damaged due to conflict and a civil war which tore the country apart in 2014.
Equinor Explores Role in Germany Gas Plant Capacity Expansion
Norwegian energy producer Equinor is looking at options for participating in a planned German gas-fired power plant tender but requires more detail before making any decision, a senior executive said on Tuesday.Germany plans to tender eight gigawatts (GW) of new gas-fired power plant capacity next year, with a further 2 GW to be offered in 2026 and 2027 to strike a balance between decarbonisation and backing up intermittent renewables."We have had, and are having, conversations with actors who will most certainly be in the picture and then we need to see whether we can play a role in this," Helge Haugane, head of Equinor's power business
Equinor looks at its role in expanding Germany's gas capacity
A senior executive at Equinor said that the Norwegian energy company is considering its options to participate in a German gas-fired plant tender, but needs more information before taking a decision. Germany will tender 8 gigawatts of new gas-fired plant capacity in the coming year. A further 2 GW will be offered by 2026 or 2027, to strike a balanced between decarbonisation while supporting intermittent renewables. Helge Haigane, Equinor's head of power business, said: "We are in discussions with actors that will be most definitely in the picture. He added that the involvement of any company was also dependent on economics.
Woodside and East Timor target first LNG from Greater Sunrise by 2032
East Timor and Australia's Woodside Energy have agreed to investigate sending gas from large, undeveloped Greater Sunrise field to a new plant that will produce liquefied gas in Southeast Asia. The plant could begin exporting gas in seven years. In a Tuesday joint statement, Woodside and East Timor’s Petroleum and Mineral Resources Ministry said that the agreement requires the two parties to examine the commercial and technological viability of a 5 million-metric-ton LNG project. The plan is to begin production as soon as 2032-2035.
Analysis finds that China's coal plant permits will be at a four-year low by 2025.
A new Greenpeace report showed that China's coal plant permits will fall to their lowest level in four years. This is due to the growing demand for renewable energy sources. Greenpeace has found that China allowed 41.8 gigawatts to be added to coal plant capacity during the first quarter of 2025. If the current pace is maintained, the 2025 permits will be the lowest since 2021. Greenpeace estimates that the approvals for 2025 will represent between 171.5 billion and 181.5 billion dollars in new coal investments. 85% of these investments are owned by state-owned companies.
Shell and Ferrari Sign Long-Term Green Power Supply Deal
Shell announced on Tuesday that it had signed a long-term agreement to provide Ferrari with renewable energies until 2034. This will help the luxury automaker reduce its carbon emissions. In recent years, power purchase agreements have become more popular in Italy as a means for manufacturers to lock-in energy costs and secure renewable power. Shell will provide 650 gigawatt-hours of electricity over a period of 10 years, using a plant that was developed by the oil group. This will cover almost half the energy requirements of Ferrari's Maranello factory near Modena and help to decarbonise its production.
Woodside and East Timor target first LNG from Greater Sunrise by 2032
East Timor and Australia's Woodside Energy have agreed to investigate sending gas from large, undeveloped Greater Sunrise field to a new plant that will produce liquefied gas in Southeast Asia. The plant could begin exporting gas in seven years. In a Tuesday joint statement, Woodside and East Timor’s Petroleum and Mineral Resources Ministry said that the agreement requires the two parties to examine the commercial and technological viability of a 5 million-metric-ton LNG project. The plan is to begin production as soon as 2032-2035. This is the first time that the two sides have given a possible start date.