Carbon & Power Markets News

Mar 18 - China's Jan-Feb coal output slips 4% on high stockpiles, weak price forecasts
China's coal production in January and February fell 4% from the previous year as high stockpiles and forecast lower prices up a damper on mining output. China, the world's largest producer, mined 705.27 million metric tons of coal in the first two months of the year, the National Bureau of Statistics said, down from 734.23 million in the corresponding 2023 period.

Mar 18 - Germany reports $2.5 billion power trade deficit in 2023 - newspaper
Germany had a 2.29 billion euro international electricity trade deficit last year, driven by the closure of its last nuclear power plant and imports of cheaper foreign power, Augsburger Allgemeine newspaper reported. Germany imported electricity at a cost of 5.7 billion euros in 2023, offset by export revenues of 3.5 billion euros, pushing Europe's largest economy into a negative electricity trade balance for the first time in years, the newspaper reported, citing data by the Federal Network Agency.

Mar 15 - Shell weakens climate targets with growing bet on gas
Shell weakened a 2030 carbon reduction target and scrapped a "perilous" 2035 objective, citing expectations for strong gas demand and uncertainty in the energy transition even as it affirmed a plan to cut emissions to net zero by 2050. Shell's retreat follows a similar move by rival BP last year as many governments around the world slowed down the roll out of climate policies and delayed targets amid soaring energy costs and supply concerns.

Mar 15 - Brazil diversifies clean power sources away from hydro: Maguire
Brazil's electricity producers have reduced their reliance on the country's mammoth system of hydro dams by sharply increasing output from solar and wind farms since 2018, data from energy think tank Ember shows. The share of electricity generated by hydro sources has dropped from 74% in 2018 to 67% in 2023, while solar and wind sites have increased their combined share of Brazil's electricity generation pie from 9% to 22% over the same period.

Mar 14 - Methane emissions from energy sector rose in 2023 despite climate pledges
Methane emissions from the energy sector remained near a record high in 2023 despite commitments from the sector to plug leaking infrastructure in a bid to combat climate change, a report by the International Energy Agency said on Wednesday. Methane emissions from human activities such as oil and natural gas production, agriculture, and landfills are short-lived in the atmosphere but many times more potent than carbon dioxide as a greenhouse gas. They have driven about a third of the rise in global temperatures since the industrial revolution.

Mar 14 - Yellen says Biden tax credits boost clean energy investment in coal country
Treasury Secretary Janet Yellen said on Wednesday clean energy investments in parts of the U.S. historically relianton fossil fuels have more than doubled to $4.5 billion per month due to Biden administration tax credits targeting such communities. Yellen said in remarks in central Kentucky that Treasury Department research using Rhodium Group data also shows clean energy investment in other communities has risen to $3.5 billion per month - a $1 billion increase - thanks to the incentives in the 2022 Inflation Reduction Act (IRA).


Mar 13 - Softer spot LNG prices see demand gain, contrast with contract pain: Russell
Lower spot prices for liquefied natural gas (LNG) in Asia have yet to drive a significant boost in demand for the super-chilled fuel, although there is an increase in appetite from price-sensitive buyers such as India and China. Asia's imports of LNG are estimated at 22.59 million metric tons for March by commodity analysts Kpler, slightly below the 22.69 million recorded for February.

Mar 13 - US natgas output to decline in 2024 while demand rises to record high, EIA says
U.S. natural gas production will decline in 2024 while demand will rise to a record high, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. EIA projected dry gas production will ease from a record 103.79 billion cubic feet per day (bcfd) in 2023 to 103.35 bcfd in 2024 as several producers reduce their drilling activities after prices fell to a 3-1/2-year low in February.


Mar 12 - US carbon pipeline company pledges no oil recovery, but Bakken drillers want it
Summit Carbon Solutions, which is trying to build the biggest carbon dioxide capture pipeline in the United States to transport and bury greenhouse gases, has repeatedly pledged its project will not be used by drillers to boost output from oil fields. But Summit has a different message for prospective clients, including North Dakota’s oil sector, according to a Reuters review of state regulatory filings and recordings of public appearances by company executives: if you want to use our project for enhanced oil recovery (EOR), where gas is pumped into oil fields to increase production, just write a check.

Mar 12 - EQT to buy Equitrans Midstream in bid to boost natural gas margins
Top U.S. natural gas producer EQT Corp on Monday said it agreed to buy Equitrans Midstream in an all-stock deal that values its former pipeline unit at about $14 billion including debt, as companies look to navigate decade-low prices for the commodity. Merger activity in U.S. shale oil and gas has soared in pursuit of greater scale and cost efficiencies amid volatile prices, with $250 billion in deals in the oil and gas industry in 2023.


Mar 11 - Japan boosts reliance on allies Australia, US for long-term LNG
Resource-scarce Japan is shoring up long-term supplies of liquefied natural gas from close allies Australia and the United States as key contracts from providers including Russia are set to expire by the early 2030s. Japan's biggest power generator JERA last month agreed to buy a 15.1% stake in Woodside Energy's Scarborough project in Australia.

Mar 11 - US natural gas pipeline accidents pose big, unreported climate threat
Pipeline mishaps unintentionally released nearly 9.7 billion cubic feet of gas into the atmosphere between 2019 and late 2023, according to a Reuters examination of incident report data maintained by the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA). That is the climate equivalent of running four average-sized coal-fired power plants for a year, according to an Environmental Defense Fund (EDF) online calculator.


Mar 08 - China coal imports seen flat in 2024, state-run utility says
China's coal imports are expected to be little changed in 2024, despite expectations for an increase of 4% in demand for the polluting fuel, a senior executive of a state-run utility said on Friday. Tepid growth in shipments by the world's top importer of the fuel could suppress global prices and worsen fears of oversupply, with Indonesia, the world's top exporter of coal, expected to further boost exports from record levels.

Mar 08 - Europe's mild winter leaves gas stocks at record high: Kemp
Europe is on track to end the winter with a record volume of gas in storage, which has pushed futures prices back to pre-crisis levels once inflation is taken into account. The supply picture has been transformed from two years ago, when traders and policymakers were worried about possible gas shortages following Russia’s invasion of Ukraine.

Mar 07 - Mexico's Pemex, Carlos Slim team met to discuss deepwater gas project
Mexican state energy company Pemex and billionaire investor Carlos Slim's team are discussing ways to revive development of the country's first deepwater natural gas field that was shelved twice before, two sources told Reuters. The sources, both with direct knowledge of the matter, said executives of companies controlled by the Slim family met with Pemex on Tuesday to discuss the Gulf of Mexico gas field. One of the sources said the parties had agreed to meet again.

Mar 07 - Saudi Aramco, UAE's ADNOC in talks to invest in US LNG projects
Gulf oil giants Saudi Aramco and Abu Dhabi National Oil Company (ADNOC) are in talks to invest in U.S. liquefied natural gas projects, as they step up competition with oil majors and regional rival Qatar in the booming super-chilled gas market, sources aware of the matter said. The two energy giants are trying to exploit their fossil fuel resources while they can and with demand for the chilled fuel expected to grow by 50% by 2030, they are tapping opportunities in the United States which has become the world's biggest exporter of LNG as it sends record volumes to Europe.


Mar 06 - US solar installations to benefit from Inflation Reduction Act in 2024, report says
The U.S. solar industry is expected to continue its momentum in 2024 after accounting for over 50% of new electricity capacity additions to the grid last year, according to a report published by Wood Mackenzie and the Solar Energy Industries Association on Wednesday. Companies and residents have aimed to capitalize on U.S. President Joe Biden's Inflation Reduction Act, which provides generous tax credits for EVs and clean energy technologies such as wind and solar farms.

Mar 06 - Biden's scaled-back power rule raises doubts over US climate target
The Biden administration’s decision to exclude the existing U.S. fleet of natural gas power plants from upcoming carbon emissions regulations raises questions over the nation's ability to meet its climate goals, according to researchers. Cleaning up the U.S. power industry, source of about a quarter of the nation’s greenhouse gas emissions, has been a central plank of President Joe Biden’s strategy to decarbonize the nation’s economy by 2050 to counter global warming.

Mar 05 - China sets tougher 2024 energy efficiency goal after missing 2023 target
China set more stringent energy intensity targets for 2024, despite missing last year's goal, as the world's biggest energy consumer tries to keep from falling further behind on its consumption targets under the five-year plan through 2025. China is aiming to cut its energy intensity, or the amount of energy used per unit of economic growth, by 2.5% in 2024, higher than last year's missed 2% goal, the National Development and Reform Commission said in a report released at the opening of the annual National People's Congress.

Mar 05 - EU wants fossil fuel sector to help pay to combat climate change, draft shows
The European Union is set to call for the fossil fuel industry to help pay for fighting climate change in poorer countries under a United Nations target, a draft document shows, as nations prepare for talks this year on a global finance goal. This year's U.N. climate negotiations in Baku, Azerbaijan, in November, are the deadline for countries to agree a new goal of how much wealthy, industrialised nations should pay poorer ones to adjust to the most severe impacts of a hotter world.


Mar 04 - Energy firms boost gas exploration in Southeast Asia to meet growing demand
Energy companies are ramping up exploration activities in Southeast Asia to boost natural gas output and meet long-term demand growth, drawn by recent discoveries and improved investment policies, company executives and analysts said. Malaysia and Indonesia have recently seen successful upstream discoveries, including a major discovery by Mubadala Energy in the South Andaman Block, following years of underinvestment in the sector since the 2015 oil price crash.

Mar 04 - US LNG exports fall in February on outage and fewer calendar days
A month-long closure at Freeport LNG plant in Texas and fewer days in the month pushed February U.S. liquefied natural gas exports 7% lower than in January, preliminary date from financial firm LSEG showed on Friday. The drop followed record shipments last year that propelled the U.S. to the world's largest exporter, above Qatar and Australia, a rank it is expected to retain this year.


Mar 01 - Russian pipeline gas exports to Europe rise 4% in February m/m - Reuters calculations
Average daily natural gas supplies to Europe by Russian energy giant Gazprom were up 4% in February from average January levels and rose by almost 26% from the same month of 2023, Reuters calculations showed on Thursday. The calculations, based on data from the European gas transmission group Entsog and Gazprom's daily reports on gas transit via Ukraine, showed that average daily pipeline exports of Russian gas to Europe rose to 84.9 million cubic metres (mcm) last month from 81.6 mcm in January.

Mar 01 - US EPA removes existing natgas plants from proposed carbon rule
The U.S. Environmental Protection Agency on Thursday said it will exclude existing natural gas power plants from its proposed carbon regulations that it plans to finalize in April, narrowing the scope of the initial proposal that would have required stringent controls on those facilities. The electric sector had questioned whether the EPA had authority to force use of technologies that the sector said are not economically or technically feasible for widespread use.


Feb 29 - Russia diverts LNG supplies for Asia around Africa to avoid Red Sea, LSEG data shows
Russia is diverting China-bound cargoes of liquefied natural gas (LNG) on a longer route via the Cape of Good Hope due to the heightened risk of attacks by Yemen’s Iran-aligned Houthi group, LSEG data showed. Global fuel producers, including Russia, were forced to change the way they deliver to Asia and go around Africa to avoid Houthi attacks in the Red Sea despite the Suez canal being the shortest route between Asia and Europe.

Feb 29 - New US sanctions more likely to curb Indian imports of Russian coal, traders say
New U.S. sanctions on Moscow are more likely than previous ones to cut Indian imports of thermal coal from Russia because they specifically cite top exporters SUEK and Mechel, three major traders of Russian coal said. Russia, historically a minor exporter of the fuel to India, began boosting shipments to the south Asian country after Western sanctions against Moscow over its invasion of Ukraine.


Feb 28 - India's thermal coal imports seen falling for first time since pandemic
India's thermal coal imports are expected to fall for the first time this year since the COVID-19 pandemic due to increasing domestic output and record high inventories, industry officials said on Tuesday. Out of eleven coal traders Reuters spoke with at the Coaltrans India conference in the western state of Goa, eight expected shipments of the fuel to decrease this year, while the others foresaw flat imports or marginal growth.

Feb 28 - EU 2030 wind target within reach thanks to investment, improved permitting, industry body says
The European Union's wind power target for 2030 is within reach due to a rebound in investment and improved permitting procedures, an industry association report showed on Tuesday. In an outlook on the sector to 2030, WindEurope forecast that the EU will install an average of 29 gigawatts (GW) in wind capacity each year, increasing installed capacity to 393 GW. To meet the EU's climate targets, 33 GW a year needs to be installed.


Feb 27 - Qatar's new LNG expansion plans to squeeze out US, other rivals
Qatar's planned expansion of liquefied natural gas (LNG) production could see it control nearly 25% share of the global market by 2030 and squeeze out rival projects including in the United States where President Biden paused new export approvals, market experts say. Qatar, one of the world's top LNG exporters, plans an 85% expansion in LNG output from its North Field's current 77 million metric tons per year (mtpa) to 142 mtpa by 2030, from previously expected 126 mtpa.

Feb 27 - U.S. gas glut gets hedge funds ultra bearish: Kemp
Portfolio investors have become extremely bearish about the outlook for U.S. gas prices, even though prices have already fallen to their lowest level in real terms since futures began trading in 1990. Hedge funds and other money managers sold the equivalent of 399 billion cubic feet (bcf) in the two major futures and options contracts linked to prices at Henry Hub in Louisiana over the seven days ending on Feb. 20.


Feb 26 - Qatar plans new gas output boost amid global price collapse
Qatar will raise natural gas production despite a recent steep drop in global prices, in a long-term bet on rising demand for the less polluting fuel in Europe and Asia.  QatarEnergy chief Saad al-Kaabi said on Sunday a new expansion of its liquefied natural gas (LNG) production will add 16 million metric tons per year to its expansion plans, bringing total capacity to 142 million tons per year (tpy).

Feb 26 - At Saudi Aramco's Jafurah field, another 15 trln standard cubic feet of gas reserves proven
An additional 15 trillion standard cubic feet of gas have been proven at Saudi state oil company Aramco's Jafurah field, Energy Minister Prince Abdulaziz bin Salman said on Sunday. Reserves at Jafurah have reached 229 trillion cubic feet of gas and 75 billion barrels of condensates, Prince Abdulaziz said in a statement on state news agency SPA.


Feb 23 - Denmark weighs CO2 tax options, alarm bells ring for pork industry (IHSmarkit)

- Expert committee outlines three options for CO2 tax for agriculture
- Pig industry leaders warn that high taxes would simply drive more production overseas
- Pork production in Denmark is already falling more rapidly than in other EU countries

Representatives of Denmark’s fast-shrinking pigmeat sector have warned that production could fall even further if the country opts to introduce a high CO2 tax for agriculture.

- After several delays, an expert committee this week submitted a report with various proposals on how a CO2 tax could be implemented.
The so-called Svarer Report outlined three models for CO2 tax, which it says could help Denmark meet its target of reducing greenhouse gas emissions by 70% by 2030, with the longer-term goal of reaching climate neutrality by 2045.

- The three models each involve different levels of taxes, ranging from DKK250 (US$36) to DKK750 (US$109) per metric ton of CO2e, and combine these with deductions and subsidies that could be financed via restructuring of agricultural support.

"Which model you prefer will be a political choice. Deductions and subsidies can be interpreted as society's price for reducing the financial burden on agriculture and addressing the risk of leakage [of greenhouse gas emissions abroad]", says the chairman of the expert group, Michael Svarer.


Implications for industry

- The report suggests pigmeat production could fall by 11% if Denmark adopts the second model - involving a CO2 tax of DKK375 per metric ton - and by more than 17% if it opts for the harshest option of DKK750 per metric ton. Industry leaders warn that this high-tax option may do little to reduce emissions as production may simply move to other countries, where the absence of such policies would offer cost advantages.
“The aim must be to transform agricultural production so that we reach our climate goals without significantly reducing food production. If it is to succeed, it is crucial that the reform gives a carrot to the companies and farmers who are furthest ahead with climate action and green innovation,” said Jais Valeur, chief executive of Danish Crown, Denmark’s leading processor.

- On the eve of the report’s publication, Valeur said farmers would be unwilling to invest if they see profitability eroded by tax obligations not faced by rivals in other parts of Europe.
“That is why I am very pleased that the government has clearly stated… that the tax must maintain competitiveness and ensure that jobs are not moved out of the country,” he noted.
Next steps

- As a next stage, this week’s report will be considered by a grouping of organizations, including the Danish Agriculture and Food Council (L&F), Dansk Industri, the Danish Food F ederation and the Nature Conservation Association. Responding to this week’s publication, L&F chairman Søren Søndergaard says it is “obvious to most people that a high, uniform tax is not compatible with the government’s position”.
”Such a tax, which is imposed even on the most climate-efficient farmers, will be at odds with the ambition to secure jobs, competitiveness and green conversion of our strong Danish food production,” he notes.

- Pigmeat production in Denmark has fallen more rapidly than in any other EU country in recent months – dropping by more than 20% y/y in the first ten months of 2023. Pig numbers fell to 11.37 million head on 1 January 2024. Although this was 1.5% lower than in January last year, it was significantly higher than the totals recorded later on in 2023. With breeding sow numbers now starting to recover, Denmark’s overall pig herd appears to have bottomed out. However, large numbers of these animals are no longer being fattened in Denmark itself but are instead being exported at a young age, to then be fattened and slaughtered in Germany and Poland.


Feb 23 - Shell's LNG trading makes $2.4 bln in final 2023 quarter, sources say
Nearly a third of Shell's profit in the fourth quarter of 2023 came from the $2.4 billion it made in trading liquefied natural gas (LNG) as it captured strong demand ahead of winter, three sources close to the company told Reuters. Two of the sources said the quarterly profit from LNG trading was among the highest in Shell's history.

Feb 23 - Equinor gets key US approval for New York offshore wind farm
U.S. officials on Thursday gave Norway's Equinor approval to start building a massive offshore wind farm off the coast of New York, a positive milestone for a project that has faced soaring costs and does not have a power supply contract. The plan approved by the U.S. Bureau of Ocean Energy Management includes construction and operation of both the Empire Wind 1 and Empire Wind 2 facilities, which could power more than 700,000 homes annually once built.


Feb 22 - Tumbling US natural gas prices prove unstoppable, hurting producers
For nearly a year, U.S. natural gas producers have slammed the brakes on production as prices fall. But relentless output gains including from oil companies that pump gas as an oil byproduct have unleashed record supplies.  In the oil versus gas contest, gas producers are losing out. Some are shutting in wells, canceling projects or selling themselves to rivals to avoid losses.

Feb 22 - China 2023 coal power approvals rose, putting climate targets at risk
China approved another 114 gigawatts (GW) of coal power capacity in 2023, up 10% from a year earlier, with the world's top carbon polluter now at risk of falling short on climate targets after sanctioning dozens of new plants, research showed. In an effort to bring climate-warming emissions to a peak by 2030, China has vowed to "strictly control" new coal-fired generation capacity, and has also connected record numbers of new wind and solar plants to its grid.


Feb 21 - Germany earmarks up to $3.8 bln for future green hydrogen imports
Germany will earmark up to $3.8 billion of public funds to procure green hydrogen and its derivatives between 2027 and 2036, the economy ministry said on Tuesday, as Berlin bets on the fuel to help decarbonise Europe's biggest economy. "The aim of the funding measure is to bring together supply and demand, both in terms of quantities and prices," the ministry said in a statement, adding that money will come from the government's Climate and Transformation Fund.

Feb 21 - Guyana's $1.9 billion gas-to-power project delayed to 2025
Guyana will delay until 2025 its biggest effort to capitalize on its energy bounty, a $1.9 billion gas-to-power project that was to start this year, using untapped gas to slash electricity costs, a Ministry of Natural Resources consultant said on Tuesday. The rising oil producing nation relies on imported fuels in its shaky electric grid and has promised to use its oil wealth to construct a 140-mile (225 km) pipeline, gas processing facility and up to 300 megawatt (MW) power plant.


Feb 20 - Slumping US gas prices cause hedge funds to despair: Kemp
Portfolio investors have become more bearish about the outlook for U.S. natural gas prices than at any time since the first wave of COVID-19 took hold in March 2020. Bearish positions betting on a further decline in prices accumulated even though prices were already at the lowest level in real terms since futures started trading in 1990.

Feb 20 - China's Sinopec strikes new shale gas in Sichuan basin
China's Sinopec Corp said on Monday it had produced 204,500 cubic metres of gas a day in a new exploration shale gas well in southwest China's Sichuan basin, potentially adding sizeable proven reserves to a recently discovered field. The drilling of the Dingye-11 well, located in the shallower reservoir at the rim of the Sichuan basin previously deemed uneconomic to develop, came following research and development on the rock formations of the gas-rich basin, Sinopec said.


Feb 19 - El Niño pushes real US gas prices to multi-decade low: Kemp
Inflation-adjusted U.S. gas prices have fallen to the lowest level for over 30 years as a mild winter and continued production growth leave the market carrying a growing surplus of inventories. Front-month futures for gas delivered at Henry Hub in Louisiana slumped to $1.58 per million British thermal units on Feb. 15, the lowest in real terms since the futures contract was launched in 1990.

Feb 19 - Japanese utilities would see impact if U.S. pause of LNG export permits becomes long term
Japanese electric utilities won't be affected in the short term by the United States' recent decision to pause liquefied natural gas export permits but if the move becomes long term it could affect global LNG supply, the head of their industry body said on Friday. U.S. President Joe Biden last month paused approvals for applications to export from new LNG projects to review the climate change and economic impact of such projects. Japan is the world's second-biggest LNG importer after China.


Feb 16 - US House passes bill to reverse Biden's LNG pause
A bill to strip the power of President Joe Biden's administration to freeze approvals of liquefied natural gas exports passed in the Republican-controlled U.S. House of Representatives on Thursday, but faces an uphill battle in the Senate. The House approved the bill sponsored by Representative August Pfluger of gas-producing Texas 224-200 on a mostly party-line vote.

Feb 16 - Shell's lofty ambitions for Asian LNG demand face price hurdle
Shell's forecast that global demand for liquefied natural gas (LNG) will surge by more than 50% by 2040 is both bold and questionable, with some of the underlying assumptions not supported by current trends, especially in the key Asia markets. The oil major released its LNG market outlook on Wednesday in which it estimated LNG demand will reach 625-685 million metric tons per year in 2040.


Feb 15 - Shell expects 50% rise in global LNG demand by 2040
Global demand for liquefied natural gas is estimated to rise by more than 50% by 2040, as China and countries in South and Southeast Asia use LNG to support their economic growth, Shell said on Wednesday. The market remains "structurally tight", with prices and price volatility remaining above historic averages, constraining growth, the world's largest LNG trader said in its 2024 annual LNG market outlook.

Feb 15 - Falling power prices threaten debt-laden EDF's revival
Falling electricity prices are slowing EDF's negotiations with industrial customers for long-term contracts, four sources and experts say, threatening the debt-laden energy group's long-term finances and ability to keep its aging nuclear plants running. Financial results for 2023 on Friday will likely show progress in cutting some of EDF's $69.5 billion of debt and a rise in profits bolstered by soaring power prices following Russia's invasion of Ukraine in 2022.


Feb 14 - Europe’s swollen gas stocks drive prices lower
Northwest Europe is roughly two-thirds of the way through the heating season, with a record volume of gas in storage for the time of year, which is putting downward pressure on gas prices. Gas inventories across the European Union and the United Kingdom stood at 771 terawatt-hours (TWh) on Feb. 10, according to data compiled by Gas Infrastructure Europe (GIE).

Feb 14 - Asia's thermal coal imports slip from record as winter demand eases
Asia's imports of seaborne thermal coal eased from record highs in January as top buyers China and India saw arrivals ease. However, there was strength in Japan and South Korea, which helped drive some divergence in prices between the high-energy coal preferred by the third- and fourth-biggest importers in Asia, and the lower quality fuel sought by China and India.


Feb 13 - Global carbon markets value hit record $949 bln last year – LSEG
The value of traded global markets for carbon dioxide (CO2) permits reached a record 881 billion euros in 2023, marking a 2% increase on the previous year, analysts at LSEG said on Monday. Many countries and regions have launched emissions trading systems (ETS) to put a price on carbon dioxide (CO2) emissions and incentivise companies to invest in low carbon technology and help meet climate targets.

Feb 13 - US natgas price to average higher in 2024 and 2025 – EIA
The U.S. natural gas spot price is projected to average higher in 2024 and 2025 compared with last year but will remain below the $3.00-per-million British thermal units (MMBtu) mark, the U.S. Energy Information Administration (EIA) said on Monday. "We forecast increases in natural gas prices as demand for natural gas grows faster than supply in 2024," the agency said.


Feb 12  - National Grid, Constellation Energy agree on LNG supply deal for Mass. facility
Britain's National Grid on Friday said it reached an agreement with gas-supplier Constellation Energy that would allow it to keep operating its Everett gas-import terminal for six years. The Everett, Massachusetts, facility supplies natural gas to power plants and other utilities across New England. It was set to close with the May retirement of Constellation's Mystic Generating Station, a gas-fired power plant.

Feb 12  - Brazil's hydro power adds to global gas surplus
Brazil's gas imports fell to their lowest level for two decades in 2023 as its brimming hydroelectric reservoirs and rapid wind and solar deployment hit thermal power demand. Imports were the lowest since 2003, National Agency for Petroleum, Natural Gas and Biofuels data shows, at 6.5 billion cubic metres (228 billion cubic feet) in 2023, from 9 billion cubic metres in 2022 and 16.9 billion cubic metres in 2021.


Feb 09 - Top Biden official at Senate hearing defends LNG pause
A top U.S. Department of Energy (DOE) official on Thursday defended President Joe Biden's pause on approvals of liquefied natural gas (LNG) exports at a Senate hearing called by a fellow Democrat who said he will investigate the decision. Biden paused the approvals late last month so his administration can take a "hard look" at the environmental and economic impacts of the booming industry.

Feb 09 - Germany cranks gas-fired electricity output to 2-year highs: Maguire
German gas-fired electricity generation jumped to its highest levels in two years in January as power firms dialled up output to compensate for the closure of the country's nuclear reactors and meet higher heating demand during a cold snap last month. The 8.74 terawatt hours (TWh) of electricity generated from gas-fired power stations was the highest since January 2022, according to think tank Ember, which was just before Russia's invasion of Ukraine led to the severing of gas pipeline flows to Europe's largest gas consumer and economy.


Feb 08 - Wind power giants find little shelter from sector troubles
The world's three biggest wind power groups - Siemens Energy, Orsted and Vestas - on Wednesday gave a sober view of the year ahead for an industry buffeted by project delays, equipment problems and inflation. Siemens Energy, the world's largest maker of offshore wind turbines, expects a 2024 loss before special items of around 2 billion euros ($2.2 billion) at Siemens Gamesa. The wind division has had to deal with the cost of addressing quality problems affecting some onshore models.

Feb 08 - Spain on a clean power roll as wind output swells: Maguire
Spain's electricity system hit a new clean milestone in 2023 as electricity generated from wind exceeded electricity output from fossil fuel sources for the first time. Wind power generated 61.09 terawatt hours (TWh) of electricity in 2023, according to energy think tank Ember, exceeding the 61.04 TWh generated from all fossil fuel sources in Spain last year.


Feb 07 - Russia's Novatek sets up China office to market gas amid sanctions
Russian natural gas producer Novatek is building a new China-based team to explore marketing the fuel, sources familiar with the plans said, as U.S. sanctions thwart plans for exports from its new multi-billion-dollar Arctic project. The move illustrates Russian energy companies' continued pivot to Asia, especially China, after the Ukraine conflict cut off their access to markets in Europe.

Feb 07 - QatarEnergy and India's Petronet sign biggest LNG deal to date
QatarEnergy and India's Petronet LNG signed their biggest single deal for supplies of liquefied natural gas (LNG) on Tuesday, as India ramps up use of the fuel in a bid to curb emissions. The deal will see Qatar supply 7.5 million metric tons per year of LNG to Petronet LNG on a delivered ex-ship basis (DES) from 2028 to 2048, according to a Petronet LNG statement.


Feb 06 - Germany outlines $17 bln plan to subsidise gas-to-hydrogen shift
Germany's government has agreed plans to subsidise gas power plants that can switch to hydrogen, the economy ministry said on Monday, with a price tag of $17 billion in subsidies as part of efforts to supplement intermittent renewable energy and speed up the transition to low carbon generation. The announcement follows pressure from the industry, impatient for detail after the government had promised the strategy last year as Germany counts on hydrogen to help the country move away from gas and coal.

Feb 06 - US says allies 'reassured' LNG pause does not affect current exports
U.S. allies concerned about steady supplies of liquefied natural gas (LNG) are reassured when they understand President Joe Biden's pause on LNG export approvals does not affect currently permitted shipments, a U.S. State Department official said on Monday. "I've found that our allies who raise these issues with me, tend to be quickly reassured when you explain to them what this is, which is a pause," not a reversal, Geoffrey Pyatt, an assistant secretary for energy resources, told reporters in a call. "This policy will have no impact on currently permitted LNG exports."


Feb 05 - Asia LNG imports are robust, but record supply keeps spot prices muted: Russell
The spot price of liquefied natural gas (LNG) is continuing to meander at low levels amid ample supply from major exporters and signs that winter demand is easing in the top-importing regions of Asia and Europe. The spot price for LNG delivered to north Asia ended at $9.60 per million British thermal units (mmBtu) in the week to Feb. 2, up slightly from the seven-month low of $9.50 the previous week.

Feb 05 - US LNG export pause leaves EU, industry at odds over energy security
Europe will have enough gas supply for the next 10 years and thereafter despite a move by the U.S. administration to pause approvals on new liquefied natural gas (LNG) plants, EU energy officials and analysts said, dismissing industry's warnings. Gas companies - and lobby groups who learned of the move ahead of the decision and unsuccessfully opposed it according to documents seen by Reuters - warned it would compromise global energy security and efforts to reduce carbon dioxide emissions.


Feb 02 - Timing opportune for European renewable power supply deals - PPA platform
Prices of European power purchase agreements (PPA) for green electricity fell 2% in the fourth quarter of 2023, making a case for buyers to strike new deals ahead of an expected rise in demand, price tracking platform LevelTen said on Thursday. PPAs, bilateral long-term agreements between corporate power users and wind and solar project developers, give consumers supply security and developers a guaranteed income stream, making it easier to arrange financing.

Feb 02 - US LNG exports fall in January on Arctic freeze, plant outages
Cold weather and outages at second-largest exporter Freeport LNG cut U.S. liquefied natural gas (LNG) exports last month below the December record, LSEG ship tracking data showed. U.S. producers exported 8.3 million metric tons (MT) of the superchilled gas, down nearly 5% from December's 8.7 MT, which cemented the U.S. role as 2023's largest LNG exporter, LSEG data showed.


Feb 01 - Czechs ask French, S.Korean firms for binding bids for up to 4 nuclear blocks
The Czech government said on Wednesday it would seek binding bids to build up to four nuclear power plant units instead of one, widening a long-running tender aimed at keeping nuclear power a big part of the country's energy mix in the coming decades. The government said it would invite the amended bids from South Korea's KHNP and France's EDF by April 15.

Feb 01 - Republican says US House to vote on reversing Biden's LNG exports pause -Bloomberg
The U.S. House of Representatives will vote next month on a measure to overturn the Biden administration's moratorium on approvals of new liquefied natural gas exports, Bloomberg reported, citing a Republican lawmaker. The measure will be voted on the week after next, the report said, citing Representative Cathy McMorris Rodgers, the chair of the House Energy and Commerce Committee.


Jan 31 - Germany needs to speed up offshore wind capacity expansion to hit targets
Germany raised installed offshore power wind capacity by 257 megawatts (MW) in 2023 to reach 8,465 MW but needs to step up the pace to meet a target of 30,000 MW by the end of 2030, industry groups said on Tuesday. Wind power is central to Germany's renewable energy transition as Berlin aims to generate at least 80% of electricity output by 2030 from green sources such as solar and wind compared with around 50% now.

Jan 31 - Holtec to get $1.5 bln loan to re-open Michigan nuclear power plant
Holtec International is set to get a $1.5 billion conditional loan in February from the U.S. Energy Department to help it restart the Palisades nuclear power plant in Michigan, a person with knowledge of the matter said on Tuesday. The loan from the Department of Energy's Loan Programs Office is likely to be announced in late February, the person said, declining to be identified as the information was not yet public.


Jan 30 - US pause on LNG exports raises pressure on Canada, BC to do same
U.S. President Joe Biden's decision to pause expansion of American liquefied natural gas (LNG) exports has raised pressure from environmental groups on the British Columbia and Canadian governments to do the same, although following suit may be politically difficult. British Columbia will hold an election in October, and its left-leaning New Democrat government is expected to decide late this year whether to approve Ksi Lisims' 12 million-metric ton export facility. It would become Canada's second-largest LNG terminal and also requires federal approval.

Jan 30 - QatarEnergy, Excelerate Energy sign 15-year supply LNG deal
QatarEnergy and U.S.-based Excelerate Energy signed on Monday a 15-year agreement to supply 1 million metric tons per year (mtpa) of liquefied natural gas (LNG) to be delivered to Bangladesh for 15 years from January 2026. The deal is the latest in a series state-owned QatarEnergy has with European and Asian partners tied to its massive North Field expansion project, which is expected to lift Qatar's LNG production to 126 mtpa by 2027 from 77 mtpa now.


Jan 29 - Biden pauses LNG export approvals after pressure from climate activists
U.S. President Joe Biden on Friday paused approvals for pending and future applications to export liquefied natural gas from new projects, a move cheered by climate activists that could delay decisions on new plants until after the Nov. 5 election. The Department of Energy will conduct a review during the pause that will look at the economic and environmental impacts of projects seeking approval to export LNG to Europe and Asia where the fuel is in hot demand.

Jan 29 - EU assessing future Russian gas flows via Ukraine
A European Union official on Friday declined to speculate on whether a contract to import Russian gas via Ukraine will be extended beyond the end of 2024, but said the bloc was assessing all scenarios to ensure its preparedness. Russia slashed gas deliveries to Europe since its Feb. 2022 invasion of Ukraine, prompting a European drive to replace Russian fuel with alternative supplies and renewable energy.


Jan 26 - Offshore wind industry turns out for NY auction as BP and Equinor split
Offshore wind developers submitted revised bids to supply power to New York state on Thursday to cope with soaring costs, with industry heavyweights Equinor and BP saying they would no longer develop projects together. The closely watched New York solicitation, which allows companies to exit old contracts and re-offer projects at higher prices, comes as the nascent U.S. offshore wind industry warns it cannot complete projects profitably because of rocketing construction costs, high interest rates and supply chain snags.

Jan 26 - Qatar informs Spanish power utility Endesa of delay to LNG cargo
Qatar, one of the world's largest liquefied natural gas (LNG) exporters, has notified Spanish power utility Endesa of a delay to an LNG cargo due to the Red Sea conflict, two industry sources told Reuters. Attacks in the Red Sea by Iranian-backed Houthi militants on shipping vessels are disrupting the transport of goods and commodities to European countries.


Jan 25 - New Jersey approves two giant offshore wind power projects
New Jersey's utility regulator on Wednesday approved two offshore wind power projects with a combined capacity of 3,742-megawatts and whose backers include Invenergy and TotalEnergies. "Today's action moves New Jersey closer to achieving Governor Phil Murphy’s goal of reaching 100 percent clean energy by 2035," the New Jersey Board of Public Utilities said.

Jan 25 - Japan's 2023 preliminary LNG imports down 8% to lowest in 14 years
Japan's liquefied natural gas imports fell by 8% to 66.2 million metric tons last year to the lowest since 2009, preliminary data from the Ministry of Finance showed, following nuclear power restarts and increased use of renewable energy. As a result, last year Japan was no longer the world's biggest LNG importer and was overtaken by China.


Jan 24 - Analysts cut EU carbon price forecasts on weak industry, power sector demand
Analysts have lowered price forecasts for European Union carbon permits for 2024 to 2026, with weak demand from power plants and sluggish industrial demand set to weigh on the market. EU Allowances are forecast on average at 74.11 euros a metric tonne in 2024 and 83.31 euros in 2025, a Reuters survey of nine analysts showed.

Jan 24 - Woodside says Santos merger talks still at early stage as it forecasts higher production
Woodside Energy CEO Meg O'Neill said there was no recent precedent for sizable premiums in oil and gas deals as the producer reported it was still in the early stages of talks over a potential $52 billion merger with Santos. The company forecast a jump in 2024 production and reported a 3% sequential rise in fourth-quarter revenue on higher realised prices.


Jan 23 - Trinidad in talks with Europe to supply Venezuelan gas
Trinidad and Tobago has begun talks with some European countries on the supply of liquefied natural gas produced from Venezuelan gas, Prime Minister Keith Rowley said on Monday. Venezuela's government in December granted a 30-year license to Shell and Trinidad's National Gas Company for joint development of a promising offshore gas field near the maritime border between the two countries.

Jan 23 - Germany set for gas power plant expansion deal this week
German stakeholders are set to agree a deal on a much-anticipated roadmap for the construction of several new gas-fired power plants this week, three government and industry sources told Reuters on Monday. The plan, with an estimated cost of 40 billion euros, is part of Germany's attempts to prevent the phase-out of coal leading to power shortages caused by the intermittency of renewable generation.


Jan 22 - Qatar set to sign cheaper long-term LNG deal with India
Qatar Energy within weeks could sign a long-term deal to provide liquefied natural gas  to Indian buyers on cheaper and more flexible terms than existing contracts, trade sources said, as India seeks to meet a goal to increase the fuel's use. The Indian companies and Qatar Energy have agreed on terms and a contract could be signed by the end of this month or early in February, one of the sources said, adding the contract offering destination-flexible cargoes and lower pricing, would run until at least 2050, possibly longer.

Jan 22 - Biden administration taking heat from all sides over Louisiana LNG project

The Biden administration faces mounting pressure over whether to approve a massive new Louisiana LNG export project, with environmentalists saying the facility would undermine U.S. climate goals and business interests arguing it is essential for global energy security. The Federal Energy Regulatory Commission, a panel of three regulators, is expected to vote in weeks or months on approval of Venture Global's Calcasieu Pass 2, or CP2, liquefied natural gas terminal (CP2) project.


Jan 19 - US LNG feedgas cut by Arctic freeze, problems at Freeport LNG
The amount of natural gas flowing to U.S. liquefied natural gas export plants dropped to a one-year low this week as an Arctic freeze caused some energy firms to divert fuel to the domestic market and Freeport LNG's facility in Texas experienced mechanical problems. Gas flows to the seven big U.S. LNG export plants have fallen to an average of 13.9 billion cubic feet per day so far in January from a monthly record of 14.7 bcfd in December, according to data from financial firm LSEG.

Jan 19 - RWE plans further Japan offshore wind push after Niigata win, S.Korea in focus
German renewable energy company RWE plans further expansions into Japan's offshore wind sector after winning its first project last month, a senior executive told Reuters, and also considers South Korea a promising market. RWE, the world's second-biggest offshore wind company, won the right to build a 684-megawatt wind farm in Niigata prefecture in northern Japan in a consortium with Mitsui & Co and Osaka Gas as part of the second round of Japanese state auctions.


Jan 18 - Gas, LNG prices to remain relatively weak in 2024 amid subdued demand -WoodMac
Global prices of gas and liquefied natural gas are expected to remain relatively weak in 2024, with demand subdued due to high storage levels in Europe and Asia and a mild Northern Hemisphere winter, consultancy Wood Mackenzie said on Wednesday. "Wood Mackenzie has been forecasting lower 2024 prices for much of last year, especially compared to forward curves, amid weak market fundamental expectations," Massimo Di Odoardo, Vice President of Gas Research at Wood Mackenzie, said.

Jan 18 - Severe US cold snap prompts peak power and natural gas demand
Freezing temperatures in several U.S. regions triggered peak power demand in parts of the country on Wednesday, after homes and businesses consumed a record amount of natural gas for heating and power generation. The severe winter storm dumped snow across a broad part of the country this week, shutting a Gulf Coast refinery in Texas, triggering malfunctions at others, and halving North Dakota's oil production.


Jan 17 - China's 2023 coal output hits record high
China's coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy security and a rise in demand after pandemic-related restrictions eased. The world's biggest coal producer mined 4.66 billion metric tons of the fuel last year, up 2.9% from a year earlier, according to the National Bureau of Statistics.

Jan 17 - Wind, solar to lead US power generation growth over next 2 years, EIA says
Wind and solar are set to lead U.S. power generation growth for the next two years following new renewable energy instillations, Energy Information Administration said on Tuesday. U.S. solar power generation is expected to grow 75% to 286 billion kilowatt hours in 2025 from 163 billion kWh in 2023 as more generation capacity comes online and amid favorable tax credit polices, the EIA said.


Jan 16 - Tankers carrying Qatari LNG resume course amid Red Sea tension
Four tankers used for shipments of Qatari liquefied natural gas have resumed course after pausing for several days amid maritime attacks by Yemen's Iran-aligned Houthis in the Red Sea, LSEG shiptracking data showed on Tuesday. The Houthi attacks, in what they call a bid to support Palestinians in the war with Israel, have disrupted trade on the main East-West route that makes up about 12% of global shipping traffic.

Jan 16 - Group of 27 Shell investors co-file new climate resolution
A group of 27 investors that own around 5% of Shell's shares has co-filed an independent resolution urging the energy company to set tighter climate targets, the biggest such drive to date. The resolution, led by activist shareholder Follow This, will be brought to a vote at Shell's annual general meeting later this year.


Jan 15 - France, ArcelorMittal agree on $2 bln investment to cut French plant emissions
France and steelmaker ArcelorMittal have agreed on a 1.8 billion-euro investment to cut greenhouse emissions at a steel plant in Dunkirk, northern France, finance ministry officials said on Sunday. The French government's subsidy package, which could be up to 850 million euros, had already been cleared by the European Commission and is part of President Emmanuel Macron's strategy to cut emissions at France's 50 most polluting sites.

Jan 15 - Australian court lets Santos build pipeline for $4.3 bln Barossa gas projectAustralia's Santos can proceed with construction of an undersea pipeline vital to its $4.3 billion Barossa gas project after a court on Monday ruled in favour of the oil and gas firm in a dispute with an Indigenous man looking to pause the work. Work on the pipeline, which will connect the Barossa gas field to a processing plant in the northern Australian city of Darwin, was paused by court order in November after a suit by a member of an Indigenous group regarded as traditional land owners from the nearby Tiwi Islands.m.Jan 15 - Frigid temps cut US natural gas supply as demand soars, Texas faces possible shortfallU.S. natural gas output fell to a preliminary 11-month low on Sunday as frigid weather froze wells across the country, while gas demand for heating and power generation was on track to hit record highs. In Texas the state's power grid operator, the Electric Reliability Council of Texas, forecast electric demand on Tuesday would top last summer's all-time high and warned power supplies could fall short on both Monday and Tuesday.


Jan 12 - Chesapeake seeks US natgas crown with $7.4 bln deal for rival
Chesapeake Energy agreed to buy smaller rival Southwestern Energy in an all-stock transaction valued at $7.4 billion, a deal that will make it the largest independent U.S. natural gas producer. The deal disclosed on Thursday is a bet natural gas prices will stay off the multi-year lows they touched last year as demand from proposed new U.S. liquefied natural gas export terminals jumps in 2025.

Jan 12 - US power prices soar ahead of extreme cold and record natgas demand
Frigid weather moving into the central U.S. will boost natural gas demand to record highs early next week, according to analysts forecasts, putting power and gas prices on track to hit their highest levels since December 2022. In December 2022, a massive winter storm, known as Elliott, boosted gas use to an all-time high and nearly caused the collapse of some electric and gas systems in the eastern half of the country after dozens of power plants shut due in part to a lack of fuel.


Jan 11 - Renewable energy growth must accelerate to reach 2030 goal - IEA
Global renewable energy capacity is expected to grow by two and a half times by 2030 but governments need to go further to achieve a goal of tripling it by then agreed at United Nations' climate talks, the International Energy Agency said. In its annual renewable energy outlook report, the IEA said new capacity added last year increased by 50% from the previous year to 510 gigawatts.

Jan 11 - Oil, gas lobby group warns against US slowing LNG approvals
The head of the largest U.S. oil and gas lobby group on Wednesday said that if regulators slow down or stop approving liquefied natural gas exports, they will put allies in Europe and Asia at risk. American Petroleum Institute President Mike Sommers issued the warning in response to media reports this week that the administration of President Joe Biden, a Democrat, is considering whether to weigh climate change criteria in approvals for LNG terminals or expansions.


Jan 10 - Colombia awards Parex Resources license for geothermal project
Colombia has awarded its first-ever license for developing a geothermal energy project to produce electricity to Canada's Parex Resources, according to a government resolution seen by Reuters on Tuesday. Colombia has set its sights on developing renewable energy sources - such as solar, wind and geothermal - as part of President Gustavo Petro's goal to wean the major regional coal and oil producer off its dependence on fossil fuels.

Jan 10 - Portugal's Galp seeks to join formal complaint against US LNG exporter
Portugal oil and gas firm Galp has asked U.S. regulators to allow it to join BP and Shell's formal complaints against U.S. liquefied natural gas exporter Venture Global LNG, a filing showed on Tuesday. Shell and BP have asked the Federal Energy Regulatory Commission to require Venture Global to disclose plant commissioning data to determine why commercial operation at Venture Global's Calcasieu Pass terminal is stalled.


Jan 09 - Shell signs 20-year purchase deal with Canadian Ksi Lisims LNG project
Global gas giant Shell has agreed to buy two million metric tons of liquefied natural gas per year from Ksi Lisims LNG, partners in the proposed Canadian project said on Monday. British Columbia's Pacific coast is close to Canada's vast Montney shale field and has a relatively short shipping distance to Asian markets.

Jan 09 - Norway's Statkraft to invest up to $6.6 bln in hydro, wind power
Norway's state-owned renewable power producer Statkraft on Monday said it plans to invest up to $6.56 billion to upgrade its domestic hydro and wind power facilities and to build new onshore wind farms. The plans would double Statkraft's current output from wind farms and boost the effect of the company's hydro power plants, adding some 3 terrawatt hours of additional electricity output, the company told a press conference in Oslo.

Jan 08 - Britain to invest 300 mln pounds in next-generation nuclear fuel programme
Britain said it plans to spend 300 million pounds on a new programme to produce advanced nuclear fuel suitable for the next generation of power-generating reactors, seeking to dislodge Russia as the main international supplier. Britain was one of over 20 countries - including the United States, France and South Korea - that recently signed a pledge to triple global nuclear capacity by 2050 as part of international efforts to cut climate-damaging carbon emissions.

Jan 08 - Asia's LNG imports hit record, but supply surge keeps price muted: Russell
Asia's imports of liquefied natural gas rose to a record in December, but spot prices remained subdued as shipments from top exporters Australia and the United States also hit all-time highs. Asia, the top buyer of the super-chilled fuel, saw imports reach 26.61 million metric tons in December, according to data compiled by commodity analysts Kpler.


Jan 05 - SolarEdge sees moderate growth in U.S. solar industry this year
The U.S. solar industry will experience modest growth in 2024, as electricity prices decline and support from the Inflation Reduction Act (IRA) rolls in, SolarEdge Chief Financial Officer Ronen Faier said on Thursday. "We've bottomed in the last two quarters," Faier told investors at a Goldman Sachs conference in Miami, Florida. Macroeconomic uncertainties in the back half of the year weighed on demand for solar products in the United States, he added.

Jan 05 - Germany's landmark year for clean power production masks drop in generation: Maguire
A record 56% of Germany's electricity was produced from clean sources in 2023, and total power sector emissions tumbled more than 20% from 2022's levels to the lowest in decades, data from think tank Ember shows. Coal-fired electricity generation dropped by nearly 30%, while electricity output from all fossil fuel sources shrank by over 20% to ensure that 2023 will enter the record books in terms of the clean power share of Europe's largest economy.


Jan 04 - Equinor, BP cancel contract to sell offshore wind power to New York
European energy firms Equinor and BP terminated their agreement to sell power to New York state from their proposed Empire Wind 2 offshore wind farm, citing rising inflation, higher borrowing costs, and supply chain issues. "This agreement reflects changed economic circumstances on an industry-wide scale and repositions an already mature project to continue development in anticipation of new offtake opportunities," Equinor said in a statement on Wednesday, in an apparent reference to a new offshore wind solicitation launched by New York in November.

Jan 04 - Shell backs BP in fight over Venture Global LNG exports
Shell PLC has joined BP PLC in its battle against Venture Global LNG, accusing the liquefied natural gas (LNG) producer of denying it and other customers access to supplies while exporting more than $18 billion worth of the superchilled gas, according to a filing with U.S. regulators.Venture Global's Calcasieu Pass export facility has been producing and selling LNG for more than 20 months while telling Shell, BP and others it cannot provide them with term-contract cargoes while the plant is undergoing a commissioning phase. The customers have complained that this lack of access has cost them billions of dollars in lost sales.


Jan 03 - US was top LNG exporter in 2023 as hit record levels
U.S. liquefied natural gas exports hit monthly and annual record highs in December, tanker tracking data showed, with analysts saying it positioned the United States to leapfrog Qatar and Australia to become the largest exporter of LNG in 2023. The U.S. was the stand out in global LNG supply growth in 2023, said Alex Munton, director of global gas and LNG research at consulting firm Rapidan Energy Group of the rise to 8.6 million metric tons leaving U.S. terminals in December.

Jan 03 - Russian LNG exports to Europe fell 1.9% in 2023 - LSEG data
Russian exports of liquefied natural gas (LNG) to Europe fell 1.9% to 15.8 million metric tons in 2023, and LNG exports to Asia fell 11% to 14.9 million tons, LSEG data showed on Tuesday. Europe increased purchases of LNG from global producers in 2023 while sharply cutting its imports of Russian pipeline gas in response to the conflict in Ukraine.


Jan 02 - Germany's gas supply secure, but Mideast turmoil a risk - E.ON boss
Germany's gas supply situation is far better than it was after Russia cut off supply last winter but instability in the Middle East could still send energy prices soaring, the head of energy firm E.ON said. The sudden collapse of Germany's decades-old energy relationship with Russia after Moscow's Feb. 2021 invasion of Ukraine left Germany scrambling for supply and slowed Europe's largest economy, tipping it into recession last year.

Jan 02 - Uniper favours independence over possible state stake sale - Boersen-Zeitung
Energy firm Uniper, which was bailed out by Germany during Europe's energy crisis, would like to become independent again once Berlin decides how it will reduce its 99% stake, its chief executive told daily Boersen-Zeitung. "We have said that we consider an independent Uniper a good option. But the decision lies in the hands of the government," Michael Lewis said, when asked whether Uniper would prefer to return to the capital markets as a listed and independent entity, or whether Berlin should sell its stake to a new owner.


Dec 22 - Britain's Harbour Energy strikes $11.2 billion deal for Wintershall Dea assets
Britain's Harbour Energy on Thursday agreed to acquire Wintershall Dea's non-Russian oil and gas assets in a $11.2 billion share and cash deal with co-owners BASF and LetterOne that creates one of the world's biggest independent producers. London-listed Harbour, the largest British North Sea oil and gas producer, has sought to expand beyond the United Kingdom after the government imposed a windfall tax on the sector following the spike in energy prices in 2022, pushing Harbour into a loss in the first half of this year.

Dec 22 - Germany swaps Russia for Norway in gas supply dependence
Germany's decision to make Norway its biggest gas supplier, culminating in a deal this week that will cover a major chunk of its industrial needs, means it has replaced the formerly dominant Russia with another equally dominant supplier. The risk of deliberate supply disruption of gas from a friendly country may be much lower, but Germany could find itself at the mercy of technical issues, analysts say.


Dec 21 - Canada announces deal to backstop carbon credit prices for Entropy CCS project
The Canada Growth Fund (CGF), a federal clean-tech financing agency, on Wednesday said it would invest C$200 million in carbon capture and storage developer Entropy Inc and backstop carbon credit prices for the first time. Under the terms of the 15-year deal, known as a carbon credit offtake (CCO) commitment, the CGF has agreed to buy up to 1 million tonnes a year of carbon credits generated by Calgary-based Entropy, a subsidiary of oil and gas producer Advantage Energy.

Dec 21 - Orsted to proceed with mega Hornsea 3 North Sea wind farm
Orsted said on Wednesday it had made a final investment decision on the Hornsea 3 project off Britain's coast, indicating it will proceed with what will become the world's largest offshore wind farm. The project, which will have capacity to power more than 3.3 million UK homes and is expected to cost 70-75 billion Danish crowns, is targeted for completion by the end of 2027.


Dec 20 - EU to extend emergency gas price cap for another year
The European Union is set to extend its emergency cap on gas prices for another 12 months to serve as a safeguard against possible energy price shocks, after energy ministers backed the plan on Tuesday. The EU first agreed the gas price limit in December 2022, after months of cripplingly high energy prices caused by Russia slashing gas supplies to Europe after its invasion of Ukraine.

Dec 20 - Mubadala Energy announces major gas discovery in South Andaman
United Arab Emirates' Mubadala Energy said it discovered a major deep sea gas reserve in Indonesia's South Andaman Block, which analysts said is the world's second-largest deep water discovery this year. Through Layaran-1 exploration well at the South Andaman block, Mubadala said the discovery has potential gas-in-place for more than 6 trillion cubic feet (tcf).


Dec 19 - QatarEnergy CEO says new LNG supply deals 'imminent'
QatarEnergy expects to agree new long-term liquefied natural gas supply deals in Asia and Europe, with several "imminent", its chief executive told Reuters. Qatar is among the world's top exporters of LNG, competition for which has ramped up since the beginning of the war in Ukraine in February 2022.  

 

Dec 19 - Seven European countries pledge CO2-free power systems by 2035
Seven countries including Germany, the Netherlands and France pledged on Monday to eliminate CO2-emitting power plants from their electricity systems by 2035. Taken together, the countries account for nearly half of EU power production - largely thanks to the contributions from Germany and France, Europe's two biggest power producers.


Dec 18 - Australia's Santos receives drilling approval for $4.3 billion Barossa gas project
Australian oil and gas major Santos said on Monday it had received approval for a revised drilling plan at its $4.3 billion Barossa gas project, although the fate of a pipeline to take gas to shore remains locked in a legal dispute. Santos was forced to stop drilling at the field roughly 285 km off northern Australia in September 2022 after the Federal Court ruled it had failed to sufficiently consult Indigenous people on the nearby Tiwi Islands.

Dec 18 - Tokyo Gas unit to buy U.S. natgas producer Rockcliff Energy for $2.7 billion

A unit of Tokyo Gas has decided to buy Texas-based natural gas producer Rockcliff Energy from private equity firm Quantum Energy Partners for $2.7 billion to expand its overseas business, it said on Saturday. The deal comes as part of the Japanese company's efforts to expand its North American shale gas operations to meet growing demand for natural gas as an energy transition fuel.

Dec 15 - Global coal use at all-time high in 2023 - IEA
Global coal use is expected to reach a record high in 2023 as demand in emerging and developing economies remains strong, the International Energy Agency (IEA) said in a report. Demand for coal is seen rising 1.4% in 2023, surpassing 8.5 billion metric tons for the first time as usage in India is expected to grow 8% and that in China is seen up 5% due to rising electricity demand and weak hydropower output, the IEA said.

Dec 15 - China November coal output hit record daily level
China's November coal output jumped 6.5% from the previous month to the highest level since March, official data showed on Friday, as colder weather led to increased demand for the fuel. The world's biggest coal producer mined 414 million metric tons last month, according to the National Bureau of Statistics, which was also 4.6% higher than the year-earlier level.


Dec 14 - COP28 kicks carbon trading down the road as EU blocks deal
U.N. climate talks failed on Wednesday to seal a deal on new rules which would allow the launch of a central system for countries and companies to begin offsetting their carbon emissions and trading those offsets. The European Union, Mexico and the Latin American Ailac bloc rejected a proposed deal, negotiated over two weeks at COP28, which would have set key rules for approving offset projects in a centralized United Nations-run system, two negotiators inside the closed-door technical talks told Reuters.

Dec 14 - Booming Indian coal demand powers rise of state-run giants
Booming demand for Indian coal is driving up the shares of miner Coal India and power generator NTPC Ltd, state giants investors once dismissed as plodding dinosaurs, but which are now outperforming the wider market and global peers. NTPC, which produces mostly coal-fired power, has surged 78%, far ahead of a gain of 17% in the broader Nifty Index, while shares of Coal India are up 55% for their best year in 2023.


Dec 13 - Nations strike deal at COP28 to transition away from fossil fuels
Representatives from nearly 200 countries agreed at the COP28 climate summit on Wednesday to begin reducing global consumption of fossil fuels to avert the worst impacts of climate change, a first of its kind deal signaling the eventual end of the oil age. The deal struck in Dubai after two weeks of hard-fought negotiations was meant to send a powerful signal to investors and policy-makers that the world is now united in its desire to break with fossil fuels, something scientists say is the last best hope to stave off climate catastrophe. 

 

Dec 13 - EU solar power growth expected to slow in 2024-25
Growth of EU solar power installations may slow by 24% in 2024 and 23% in 2025 in the face of weaker wholesale electricity prices and problems getting permits and grid connections, an industry association forecast on Tuesday. The European Union has a target of 600 gigawatts (GW) of solar installations by 2030, needing a significant acceleration in deployment for its transition to non-fossil energy.


Dec 12 - New COP28 draft deal stops short of fossil fuel 'phase out'
A draft of a potential climate deal at the COP28 summit on Monday suggested a range of measures countries could take to slash greenhouse gas emissions, but omitted the "phase out" of fossil fuels many nations have demanded - drawing criticism from the U.S., EU and climate-vulnerable countries. The draft has set the stage for contentious last-minute negotiations in the two-week summit in Dubai, which has laid bare deep international divisions over whether oil, gas and coal should have a place in a climate-friendly future.

Dec 12 - Europe's top economies slash carbon intensity of electricity: Maguire
The carbon intensity of electricity production across Europe's largest economies has dropped by nearly a quarter over the past five years, thanks to steep cuts in fossil fuel use for power generation and rapid expansions in renewable electricity output. Average carbon dioxide emissions per kilowatt hour of electricity in Europe's six largest economies - Germany, France, United Kingdom, Italy, Spain and The Netherlands - was 253 grams through November of 2023, data from electricitymaps.com shows.


Dec 11 - US LNG exports through Panama Canal shrink, Asia-Europe spreads widen
The number of U.S. liquefied natural gas (LNG) vessels transiting the Panama Canal to Asia halved in November compared with a year ago as Asia prices for the gas this week traded at their steepest premium to European prices in nearly two years. A severe drought has cut vessel traffic through the canal, increasing costs for shippers that take alternative routes or pay extra fees for auctioned slots in Panama.

Dec 11 - Papua New Guinea in advanced talks with Chinese banks to fund its stakes in LNG megaproject
Papua New Guinea's state-owned petroleum company is in advanced talks with Chinese banks to help fund its stakes in the two major liquefied natural gas (LNG) projects in the country, a senior executive said. Kumul Petroleum is holding talks with banks in the U.S., Europe and Australia, but its managing director Wapu Sonk said talks with Chinese banks had gone further as they had fewer concerns around fossil fuel development.


Dec 08 - EU members seek to add nuclear, e-fuels to clean tech goals
EU governments agreed on Thursday that nuclear and sustainable fuels should be added to a list of strategic "net-zero" technologies that the European Union should promote so its industry can compete with Chinese and U.S. competitors. The bloc plans to set a target of producing by 2030 at least 40% of the products it needs to reduce greenhouse gas emissions - such as solar and wind power equipment, heat pumps and fuel cells.

Dec 08 - Brazil's priciest power transmission auction expects few bidders
Brazil's largest-ever power transmission auction by expected investment volume may see little competition, experts and executives said, as the need for billions of dollars in investments and tech expertise may dissuade potential bidders. In the last five years, Brazil's transmission lines auctions have had on average at least six bidders for each allotment, according to national energy regulator Aneel, but the trend could change if the current outlook is confirmed.


Dec 07 - China's coal imports up 21% in November on price advantage, hydro decline
China's November coal imports rose 20.9% from the previous month, customs data showed on Thursday, as buyers took advantage of cheaper imported coal to stock up for winter. China, the world's largest coal buyer, imported 43.51 million tons last month, a 34.7% increase from November a year ago, before China ended a ban on shipments of Australian coal in January 2023, figures from the General Administration of Customs showed.

Dec 07 - Nuclear sector must overcome decades of stagnation to meet COP28 tripling goal
The global nuclear industry got a morale boost at the COP28 climate summit in Dubai after more than 20 nations vowed to triple capacity by 2050. But reaching that goal will require the industry to overcome regulatory hurdles, financing obstacles, fuel bottlenecks, and public safety concerns that have contributed to a long history of project delays and decades of stagnation.


Dec 06 - Fossil fuel phase-out among options on COP28 table
Countries at the COP28 climate conference are considering calling for a formal phase-out of fossil fuels as part of the U.N. summit's final deal to tackle global warming, a draft negotiating text seen on Tuesday shows. The proposal is set to spark heated debate among the nearly 200 countries at the two-week conference in Dubai, with some Western and climate-vulnerable states pushing for the language to be used and many oil and gas producers keen to leave it out.

Dec 06 - U.S. wind power generation on course to surpass coal: Maguire
U.S. electricity generation from wind power is on course to surpass coal-fired electricity generation, potentially by 2026, as wind supply growth expands at a record pace just as coal-fired generation is cut across the country. Coal-fired power remains the second largest source of U.S. electricity behind natural gas, and over the first 10 months of 2023 coal-fired output was roughly 60% greater than total generation from wind sources, data from think tank Ember.

Dec 05 - Global CO2 emissions from fossil fuels to hit record high in 2023 - report
Global carbon dioxide emissions from burning fossil fuels are set to hit a record high this year, exacerbating climate change and fuelling more destructive extreme weather, scientists said. The Global Carbon Budget report, published on Tuesday during the COP28 climate summit, said that overall CO2 emissions, which reached a record high last year, have plateaued in 2023 due to a slight drop from uses of land like deforestation.

Dec 05 - Asian power generation gets cleaner, even as coal emissions rise
Asia boosted clean electricity output and slashed its share of fossil fuels faster than North America and Europe from 2015, data shows, underscoring resistance by Asian nations to a western push to choke private financing for coal-fired power. There is wide agreement that increasing clean power, such as wind and solar, is central to curbing carbon emissions to fight climate change.


Dec 04 - Countries promise clean energy boost at COP28 to push out fossil fuels
Governments launched new initiatives on Saturday to bolster clean energy and to wean themselves off fossil fuels at the U.N. climate summit in Dubai, where countries are grappling with how to halt the non-stop rise in planet-warming emissions. In one of the most widely supported initiatives, 118 governments pledged to triple the world's renewable energy capacity by 2030 at the U.N.'s COP28 climate summit on Saturday, as a route to cut the share of fossil fuels in the world's energy production.

Dec 04 - Global regulators propose tougher scrutiny of voluntary carbon markets
A global securities watchdog proposed 21 safety measures on Sunday to improve integrity, transparency and enforcement in voluntary carbon markets (VCMs) in a sector of growing importance to efforts to combat climate change. IOSCO, which groups market watchdogs from Asia, Europe, Latin America and the United States, launched a 90-day public consultation on a set of good practices for national regulators to apply.


Dec 01 - In China's coal country, full steam ahead with new power plants despite climate pledges
On a flat, dusty patch of land 13 kilometres (8.1 miles) west of Yulin in the heart of China's coal country, construction workers braved sub-freezing temperatures at the site of a planned 700 megawatt (MW) power plant set to open in less than a year. Surrounded by cranes, the main building at the 3 billion-plus yuan ($419 million) Yushen Yuheng plant is taking shape, part of a spate of new coal-fired power construction in China even as the country pledges to begin reducing coal use during its next five-year plan, beginning in 2026.

Dec 01 - India turns to coal as hydro generation falls: Kemp
India produced a record amount of electricity from coal in October to make up for a shortfall in hydro generation following lower-than-normal monsoon rains. Coal remains fundamental to the country’s energy security, despite rapid deployment of wind and solar generation, underscoring the challenge of reducing emissions.


Nov 30 - India scrambles to add coal-fired power capacity, avoid outages – sources
India aims to add 17 gigawatts of coal-based power generation capacity in the next 16 months, its fastest pace in recent years, to avert outages due to a record rise in power demand, according to government officials and documents. The expansion drive comes ahead of this week's U.N. climate summit COP28, where France and the United States are expected to clamp down on financing for coal plants, a move that India, dependent on coal for 73% of power generation, plans to oppose.

Nov 30 - Capital Power CEO planning no Canadian gas-fired plants due to Trudeau's regulations
Alberta's Capital Power is not planning to build new natural gas-fired power plants in Canada as Prime Minister Justin Trudeau's proposed electricity regulations to fight climate change make new investments in such facilities unviable, CEO Avik Dey said. The concerns raised by Capital, Alberta's second-biggest power generator, mirror those of Alberta Premier Danielle Smith, who on Monday said the province would defy the federal government's proposed clean electricity regulations (CER).


Nov 29 - World to reckon with future of fossil fuels at COP28 climate summit
Delegates from nearly 200 countries will convene this week for the COP28 climate summit in Dubai, where conference host and OPEC member the UAE hopes to sell the vision of a low-carbon future that includes, not shuns, fossil fuels. That narrative, also backed by other big oil producer nations, will throw the spotlight on international divisions at the summit over the best way to combat global warming: countries are split over whether to prioritize phasing out coal and oil and gas, or scale up technologies like carbon capture to scrub away their climate impact.

Nov 29 - High cost of capital a bane for energy transition ahead of COP28
Advocates for the energy transition are concerned ahead of the COP28 summit in Dubai about the high cost of capital available to make change happen, as policymakers ratchet up their rhetoric on the need for tight monetary policy. COP28 is widely expected to focus on climate finance, specifically to build on the G20 nations' commitment to triple renewables deployment to about 11,000 gigawatts by 2030, which will need funds of around $4.5 trillion.

Nov 28 - Australia Pacific LNG deliveries disrupted due to tanker outage
Origin Energy said on Tuesday it had reduced gas supply to the Australian Pacific LNG (APLNG) facility and liquefied natural gas (LNG) cargoes would be delayed as a loaded tanker docked at the site had lost power and was unable to leave. As a result of the vessel blocking other tankers from entering, APLNG, operated by ConocoPhillips, has so far deferred two LNG cargoes and Origin warned "it expected that more LNG cargoes will be deferred".

Nov 28 - Delfin signs 15-year LNG supply agreement with Gunvor
Delfin Midstream Inc said on Monday it had entered into a long-term liquefied natural gas (LNG) supply agreement with global commodity trader Gunvor. Delfin said in a news release its LNG plant in Louisiana will supply between 500,000 to 1 million tonnes of LNG per annum to Gunvor on a free-on-board basis at Delfin Deepwater Port for at least 15 years.


Nov 27 - Biden's clean energy agenda faces mounting headwinds
Canceled offshore wind projects, imperiled solar factories, fading demand for electric vehicles. A year after passage of the largest climate change legislation in U.S. history, meant to touch off a boom in American clean energy development, economic realities are fraying President Joe Biden’s agenda. 

 

Nov 27 - China's thermal coal imports jump, crowding out India: Russell
China's imports of thermal coal in November are poised to surge to the second-highest monthly total this year, helping drive prices higher for the grades most commonly sought by the world's biggest buyer of the power station fuel. Thermal coal imports are expected to be around 29.21 million metric tons in November, up from October's 24.62 million and second only to the 30.21 million in May, according to data compiled by commodity analysts Kpler.


Nov 24 - Global fossil fuel subsidies on the rise despite calls for phase-out
World governments agreed at the COP26 climate summit in Glasgow two years ago to phase out "inefficient" fossil fuel subsidies to help fight global warming. Since then, however, global fossil fuel subsidies have risen $2 trillion to $7 trillion, according to the International Monetary Fund, as governments around the world moved to protect consumers from rising energy prices.

Nov 24 - Indonesia launches first carbon storage project in West Papua
Indonesia's President Joko Widodo on Friday launched construction of a carbon capture, utilisation and storage (CCUS)project in West Papua province operated by BP Plc, the country's first carbon storage project. The CCUS project has the potential to store up to 1.8 gigatonnes of carbon dioxide, energy minister Arifin Tasrif said in a statement on Friday.


Nov 23 - Federal regulator green-lights Freeport LNG's full operations
U.S. liquefied natural gas (LNG) company Freeport LNG received approval to return part of its export plant in Texas to full operation, the Federal Energy Regulatory Commission (FERC) said on Wednesday. The FERC authorized the U.S. second largest LNG export facility to return to service its Phase II infrastructure, which include LNG Loop 2 and Dock 2 for ship loading.

Nov 23 - Carbon capture and storage hopes are pipe dreams, for now – Russell
Carbon capture and underground storage (CCUS) is touted by proponents of fossil fuel production and consumption as the technology that will keep oil and gas in the global energy mix. It is, and at the same time it isn't. The International Energy Agency (IEA) delivered a dose of reality on whether CCUS can be deployed at sufficient scale and with viable economics in its latest report, released on Thursday.


Nov 22 - US approves Equinor and BP's Empire Wind offshore project, country's sixth
The U.S. Department of the Interior on Thursday approved the Empire Wind offshore project, owned by Equinor and BP, the sixth commercial-scale wind farm to be greenlit under President Joe Biden's administration. Empire Wind is among several offshore wind projects facing construction and financing cost blowouts that the troubled industry says would not be covered by existing power sales contracts, but it could be helped by a new auction planned by New York state. 


Nov 22 - India wants private money for coal-fired plants despite Western opposition
India on Tuesday asked private firms to ramp up investments in new coal-fired power plants to meet a dramatic rise in electricity demand and bridge nearly 30-gigawatts of additional requirement by 2030, despite international pressure to stop building such facilities. India's power and renewable energy minister R K Singh in New Delhi asked private companies to invest in coal projects and "not miss the growth opportunity," according to three sources present in the meeting.


Nov 21 - First Quantum plans maintenance for Panama copper mine amid protests
Canada's First Quantum Minerals will carry out maintenance at its Panama mine from Nov. 23 due to coal supplies being blocked by protestors opposing the government's contract with one of the world's biggest and newest copper mines, two sources familiar with the discussions said on Monday. This move would effectively suspend production at the Cobre Panama mine until coal supplies resume as the mine cannot operate without power, one of the sources said. The sources declined to be identified as the information is not public.


Nov 21 - China's MMG seals $1.9 bln deal to buy Khoemacau copper mine in Botswana
Chinese miner MMG Ltd's share price jumped on Tuesday to a near eight-week peak after it agreed to buy Canada-based Cuprous Capital, the parent company of the Khoemacau copper mine in Botswana, with an enterprise value of $1.88 billion. MMG has been hunting for copper assets for more than a year, amid a surge in demand for the metal needed in green energy transition.


Nov 20 - EU poised to propose extending energy crisis measures – official
The European Commission wants to extend emergency energy measures passed last year to cope with Europe's gas crisis to guard against future price shocks and quickly build-out renewable energy, a senior EU official said. Europe's former top gas supplier Russia slashed deliveries last year, plunging the continent into an energy crisis of record-high prices and soaring inflation. 


Nov 20 - Under new CEO, Enel seen more focused on Italy, selective on renewables
Italy's Enel, the world's largest listed renewable energy developer, is expected to announce a greater focus on its home country and a more selective approach to green investments when its new CEO presents his strategy on Nov. 22. A slight improvement in the dividend policy could also be in prospect as Flavio Cattaneo - who previously led telecom group TIM and power grid operator Terna - stamps his mark on the 64-billion-euro group, analysts and energy experts said.


Nov 17 - EBRD backs 4 bln euro plan to wean North Macedonia off coal power

International lenders including the European Bank for Reconstruction and Development and the World Bank are backing a 4 billion euro ($4.35 billion) plan to wean North Macedonia off coal-fired power, the head of the EBRD told Reuters. The deal, which is expected to be announced at the COP28 climate talks in Dubai beginning on Nov. 30, will lay out a plan to close the country's two coal power plants and replace them with 1.7 gigawatts of renewable energy.

 

Nov 17 - NY offers new offshore wind auction, may revive troubled projects

New York State will issue a new offshore wind solicitation on Nov. 30 with bids due in January 2024, the state government said, in a move that should support the troubled industry. European energy companies Orsted, Equinor and BP have taken a combined $5 billion of writedowns on U.S. offshore wind projects that are not even completed, in part because their existing power sales contracts would not cover the cost of building and financing the projects.


Nov 16 - Poland's Orlen prepares arbitration claim against Venture Global LNG

Polish oil and gas firm Orlen is preparing to file for arbitration against U.S. exporter Venture Global LNG for failing to supply contracted cargoes, three sources familiar with the matter told Reuters. "I know that this is being considered, I know that there were preparations to file a claim," one person said on condition of anonymity. Two other people confirmed that Orlen is considering a claim. 

 

Nov 16 - Tougher EU methane rules mean US gas sector must clean up act - Maguire

As Europe's top supplier of liquefied natural gas (LNG), the United States has been the main beneficiary of the pivot by utilities to replace sharply lower Russian pipeline gas supplies with imports from other origins and in the form of LNG. But following the European Union deal on Wednesday to place methane limits on Europe's oil and gas imports from 2030, U.S. LNG shippers will be anxious that their lucrative European market may be at risk due to the enduring high levels of methane emissions throughout the U.S. natural gas supply chain.


Nov 15 - China's October coal output slips on mine safety push

China's October coal output slipped by 1.1% from September's six-month high, official data showed on Wednesday, as mine safety inspections limited production. The world's largest coal producer mined 388.8 million metric tons of the fuel last month, according to data from the National Bureau of Statistics, though that was still up 3.8% from the year-earlier level.

 

Nov 15 - EU agrees law to hit fossil fuel imports with methane emissions limit

The European Union reached a deal on Wednesday on a law to place methane emissions limits on Europe's oil and gas imports from 2030, pressuring international suppliers to clamp down on leaks of the potent greenhouse gas. Methane is the second-biggest cause of climate change after carbon dioxide, and in the short term has a far higher warming effect. Rapid cuts in methane emissions this decade are crucial if the world is to avoid severe climate change.

 

Nov 14 - US needs more pipeline capacity for reliable gas supply - trade group

The U.S. needs more natural gas pipeline capacity to maintain reliable gas supply during extreme cold weather, a trade group representing pipeline companies said on Monday in support of regulators who last week urged sought new rules to prevent a repetition of last winter's power outages. The Federal Energy Regulatory Commission (FERC) and the North American Electric Reliability Corp (NERC) urged lawmakers to fill a regulatory blind spot to maintain reliable supply of natural gas that was highlighted by an inquiry into power outages during Winter Storm Elliott in December 2022.

 

Nov 14 - Uptick in LNG demand in Asia, Europe insufficient to drive prices: Russell

Rising demand for liquefied natural gas (LNG) in the top importing regions of Asia and Europe hasn't been enough to spark an increase in spot prices, which continue to languish. The price of spot LNG for delivery to north Asia slipped to $16.50 per million British thermal units (mmBtu) in the week to Nov. 10, down from $17.00 the prior week.


Nov 13 - Top LNG importer China re-selling more cargoes, eyes trading gains

China, the world's top importer of liquefied natural gas (LNG), is increasingly re-selling some of the super-chilled fuel to other Asian buyers as it looks to profit from price swings. Armed with a growing portfolio of long-term supply deals recently struck with Qatar and U.S. exporters, as well as extensive terminal capacity, Chinese companies led by state giant PetroChina are more actively trading LNG, but still lag far behind global majors such as BP, Shell and TotalEnergies.

 

Nov 13 - BP, Edison, Shell ask US, EU to intervene in Venture Global LNG dispute

BP, Edison and Shell pressed a U.S.-EU energy group to intervene in a dispute with liquefied natural gas exporter Venture Global LNG over the U.S. firm's failure to deliver contract supplies of the fuel. The companies appealed to the U.S.-EU Task Force on Energy Security last month, and a Shell executive urged them to require Venture Global LNG to "immediately begin to perform" under their signed contracts.

Nov 10 - ConocoPhillips' $8 billion Willow project approvals upheld by US judge
A federal judge in Alaska on Thursday upheld U.S. approvals for ConocoPhillips’ multibillion-dollar Willow oil and gas drilling project in the state’s Arctic, rejecting environmental and tribal groups' concerns that the project poses too large of a climate threat. U.S. District Judge Sharon Gleason in Anchorage dismissed a lawsuit filed by environmental and tribal groups challenging the $8 billion project's approvals, which the U.S. Interior Department had issued in March. Opponents claim the project would release hundreds of millions of tons of carbon pollution into the atmosphere, aggravating climate change and damaging pristine wilderness. 

Nov 10 - France sees no big risk to European gas from sanctions on Russian LNG project
U.S. sanctions against a major Russian liquefied natural gas project in which French oil major TotalEnergies is a shareholder do not appear to pose a big risk to European gas supplies, Finance Minister Bruno Le Maire told Reuters on Thursday. Le Maire, who said France was in contact with U.S. authorities over the impact of the new sanctions announced last week, was speaking from Paris to the Reuters NEXT conference in New York.

Nov 09 - Mideast conflict dims prospect of more Egyptian LNG exports to Europe
The prospect of the EU receiving more liquefied natural gas (LNG) from Egypt in the short and medium term looks unachievable due to tight gas balances and reduced imports form Israel, Oxford Institute of Energy Studies (OIES) said. Egypt shipped 80% of its liquefied natural gas (LNG) exports to Europe last year as the continent sought to replace Russian pipeline gas after Moscow's invasion of Ukraine.  

Nov 09 - How shipping more US natural gas to Europe helped fuel CO2 pollution
Carbon dioxide emissions from U.S. liquefied natural gas facilities have jumped to 18 million tons per year, up 81% since 2019, adding a volume of greenhouse gas to the atmosphere equivalent to that produced by several big coal plants, according to United States government data. They could more than double to 45 million tons per year by the end of the decade as new facilities, encouraged by soaring overseas demand for the super-cooled fuel, come online, according to company projections provided to the U.S. Environmental Protection Agency and the Federal Energy Regulatory Commission tallied by Reuters.

Nov 08 - China gives utilities more leeway in 2024 coal term contracts
China will give power utilities more flexibility on signing long-term thermal coal supply contracts with domestic miners for 2024, as supply concerns have waned amidst surging output and imports. The world's top coal consumer has driven production to a record high this year after approving dozens of new mines, in a bid to improve energy security and avert a repeat of power shortages in 2021 and 2022. 

Nov 08 - Europe's record gas stocks start to pressure prices: Kemp
Europe's record gas inventories continue to climb even higher as a warm start to autumn delays the onset of heating demand while high prices discourage industrial use and encourage continued imports. But prices for gas delivered at the height of winter in January 2024 have started to slide as the record levels of inventory weigh on the market.

Nov 07 - White House says Orsted remains 'committed' to US offshore wind
Denmark's Orsted is still "committed" to developing offshore wind farms in the United States despite the company's cancellation of two projects off the coast of New Jersey, White House senior advisor John Podesta told Reuters on Monday. Podesta spoke with the company after its shock decision last week, he said in an interview. The discussion underscores the Biden administration's keen interest in offshore wind to further the nation's climate change goals by adding zero-emissions power generation.  

Nov 07 - Kinder Morgan to buy NextEra Energy Partners' Texas pipelines for $1.82 bln
U.S. pipeline operator Kinder Morgan said on Monday it would acquire NextEra Energy Partners' gas pipelines in South Texas for $1.82 billion. The oil and gas pipeline business has seen increased consolidation this year as U.S. production grows and persisting problems related to permits for new pipelines have made existing operators more valuable.

Nov 06 - Energy giants' LNG trading results reveal diverging regional bets
Energy giants offered a rare glimpse into their liquefied natural gas (LNG) trading strategies in recent days, with Shell's and TotalEnergies' bets on rising Asian demand paying off while BP's bet on a European deficit turned sour. The contrasting outcomes highlight the risky nature of trading divisions, at times notching up spectacular profits as traders quickly exploit price swings and supply and demand disruptions around the world to make money, but at other times losses have been just as spectacular.

Nov 06 - Ship shortage dealt death blow to Orsted's NJ offshore wind hopes
Danish energy firm Orsted's shock decision to cancel two offshore wind farms off New Jersey this week was based in large part on big delays securing the ship it needed to build the project, company officials said. The world's biggest offshore wind farm company on Tuesday said it would cease all development on the Ocean Wind projects even as it moves forward with developments off neighboring New York, triggering an angry response from New Jersey Governor Phil Murphy.

Nov 03 - Chevron struggles to exit Myanmar gas project after nearly two years
Nearly two years after U.S. energy company Chevron condemned violence and human rights abuses in Myanmar and announced it would leave, the company said it still holds assets there, including a portion of an offshore gas field in a venture with the state energy company. Chevron said in January 2022 it would exit Myanmar and in February 2023 said it had agreed to sell its assets there, including a 41.1% stake in Myanmar's Yadana gas field, to Canada's MTI Energy for an undisclosed price. 

Nov 03 - German power mix may get dirtier for 1st non-nuclear winter: Maguire
Germany's power producers are preparing for their first winter without nuclear power, after the country closed its last remaining reactors in early 2023 amid ongoing efforts to modernize its energy system. German officials opted to shut the country's last remaining reactors in April, as although they generated steady volumes of power with little to no emissions, authorities preferred to expand supplies of renewable energy rather than make additional investments in the nuclear fleet.

Nov 02 - US October LNG exports climb to second highest level on record
U.S. liquefied natural gas (LNG) producers ramped up exports in October, to 7.92 million metric tons, according to data provider LSEG, the second-highest monthly level on record. Exports were just shy of the record 8.01 million metric tons in April this year, and were up from 7.12 million metric tons in September, when plant maintenance reduced U.S. production.  

Nov 02 - Australia court halts Santos' $3.6 bln Barossa gas pipeline works
Santos said on Thursday an Australian court has granted an interim injunction preventing it from starting work on laying undersea pipelines on its $3.6 billion Barossa gas project off northern Australia. The ruling comes after Simon Munkara, a traditional land owner from the Tiwi Islands, lodged proceedings with the Federal Court of Australia to halt the pipeline works until its impact and risk to underwater cultural heritage were properly assessed.

Nov 01 - US offshore wind writedowns seen soaring with Orsted earnings
European energy companies, including Denmark's Orsted, will likely write down more of their U.S. offshore wind investments this week after BP and Equinor booked $840 million in impairments in recent days. Orsted, the world's largest offshore wind developer, said in August it may see impairments of $2.3 billion on its U.S. offshore developments due to supply chain problems, soaring interest rates and a lack of new tax credits. 

Nov 01 - US climate envoy demands 'public responsibility' from fossil fuel firms
Fossil fuel companies must face up to their responsibilities to cut the CO2 emissions fuelling climate change, the U.S. Climate Envoy John Kerry said on Tuesday, as countries prepared to debate the future of fossil fuels at this year's U.N. COP28 climate summit. The oil and gas industry is expected to be in focus at the COP28 summit from Nov. 30 to Dec. 12 in the United Arab Emirates, a major oil producer. Dozens of countries plan to push for the world's first deal to phase out CO2-emitting coal, oil and gas.

Oct 31 - BP explores forming joint ventures to boost US shale -sources
BP is seeking to form joint ventures around its U.S. onshore natural gas fields to expand production and cut costs as rival energy giants rush to scale up shale businesses, three sources with direct knowledge of the talks told Reuters. London-based BP has held talks in recent weeks with several companies about tying up operations in the Haynesville shale gas basin, the three sources said. 

Oct 31 - Tracking the emissions impact of China's economic recovery: Maguire
China's power demand this winter may increase by over 12% from last year's peak as the economy continues to recover from a construction-led slump, a National Energy Administration official said this week. Following a slew of stimulus measures, industrial output and retail sales rose by more than expected last quarter, raising hopes that the world's largest manufacturer and exporter may be over the worst effects of a prolonged property crisis.

Oct 30 - Germany's Scholz calls Siemens Energy 'very important' amid intensive talks
German Chancellor Olaf Scholz on Friday called Siemens Energy "very important" and the economy ministry said it was conducting "intensive talks", statements that came as the company's shares halted their plunge on news that it was seeking state guarantees. The power engineering company has suffered big setbacks at its wind unit, the world's largest, and said on Thursday it was in talks about aid, spooking investors. 

Oct 30 - Three Baltic pipe and cable incidents 'are related', Estonia says
The three incidents that resulted in damage to a gas pipeline and two telecom cables between Estonia, Finland and Sweden "are related", Estonian Prime Minister Kaja Kallas said. Finland on Friday said it had raised its risk assessment for gas supply security as a result of the damage to the Balticconnector Finland-Estonia pipeline, which operator Gasgrid has said could be out of commission until April or longer.

Oct 27 - Siemens Energy shares slide 39% after company seeks state guarantees
Siemens Energy shares plunged nearly 40% on Thursday, wiping 3 billion euros off its market value, after the group said it was in talks with the German government about state guarantees following big setbacks at its wind unit. A spokesperson for the German economy ministry also confirmed the talks, describing them as "close and trustworthy". 

Oct 27 - Europe's wind power goal hits new snag: security
Developers like Orsted think governments should take the lead and help provide the billions of dollars needed to protect their infrastructure. But even as North Sea countries alone plan to install enough wind power for more than 100 million homes by 2030, governments are still considering how much they can spend to safeguard such offshore assets.

Oct 26 - EU executive proposes methane emissions limit on gas imports
The European Commission has proposed imposing methane emissions limits on EU gas imports from 2030, a move that would pressure the bloc's international fossil fuel suppliers including the U.S. to cut leaks of the potent planet-warming gas. The proposal seen by Reuters on Wednesday and dated Oct. 23 comes in response to pressure from the European Parliament and some big EU countries including France in ongoing talks on a law addressing methane emissions inside the bloc. 

Oct 26 - Are iron-flow batteries the solution to variable renewables?: Russell
For the first time Australia's main electricity grid reached a share of over 70% for renewable energy this week, an achievement that showcases the rapid rise of solar and wind generation, but also highlights several challenges. Australia is a world leader in renewable electricity generation and has the world's highest penetration of rooftop solar systems per capita.

Oct 25 - EDF price row sparks fears boss may resign
Luc Remont's future as head of France's state-owned nuclear power giant EDF is in question due to an escalating row over future power prices, raising concern he may resign, two high ranking company officials told Reuters on Tuesday. Remont was appointed by President Emmanuel Macron less than a year ago to turn around EDF, which runs the world's second-biggest nuclear fleet after the U.S. and is central to France's renewed bet on cheaper atomic energy as it seeks to gain a competitive advantage for its industry. 

Oct 25 - EU on track to quit Russian fossil fuels - report
The European Union is on track towards its goal of ending Europe's reliance on Russian fossil fuels within this decade, the European Commission said on Tuesday. European countries are heading into their second winter with scarce Russian gas, after Moscow slashed deliveries last year following its invasion of Ukraine - inflicting an energy crisis of record-high gas prices in Europe.

Oct 24 - Qatar signs 27-year gas supply deal with Italy's Eni
State-owned QatarEnergy said on Monday it would supply Italy's Eni with gas for 27 years, following similar deals this month to supply the Netherlands via Shell and France through TotalEnergies. Affiliates of QatarEnergy and Eni signed a long-term sale and purchase agreement for up to 1 million tons per year (mtpa) of liquefied natural gas (LNG) from Qatar's North Field expansion project. 

Oct 24 - EU not ready for formal probe into China's wind industry
The European Union still lacks "very clear evidence" of unfair practices to launch a formal probe into China's wind power industry that has become a cut-price competitor to Europe's, an EU official said. In a leaked wind energy proposal last week, the Commission said it would scrutinise foreign subsidies as part of a broader action plan to support its struggling wind industry that is fast losing its leadership position.

Oct 23 - S&P Global launches Southeast Asia's first LNG price assessment
Platts, part of S&P Global Commodity Insights, on Monday launched Southeast Asia's first price assessment for liquefied natural gas (LNG) cargoes amid growing demand for the super chilled fuel. The Southeast Asia LNG (SEAM) cargo assessments are published as a differential to the Platts JKM, as well as on an outright basis, and reflect the value of cargoes delivered to Thailand, Singapore, Vietnam and the Philippines, said S&P in a statement. 

Oct 23 - Russia's Gazprom to supply extra gas to Hungary and China this year
Russia's Gazprom will supply extra gas to Hungary through the coming winter and will also provide China with an additional 600 million cubic metres this year on top of contractual obligations, TASS news agency quoted its boss Alexei Miller as saying. Russian President Vladimir Putin met the leaders of both countries during a trip to China last week and Miller was among the business chiefs who accompanied him on the trip.

Oct 20 - US LNG companies race to build export plants while natgas prices are high
Two U.S. natural gas exporters are racing to complete construction of the country's first liquefied natural gas (LNG) plant since 2022, hoping to cash in on booming demand for the superchilled gas before it fades later this decade, two analysts said this week. Golden Pass LNG, owned by Qatar Energy and oil major Exxon Mobil, expects to start production on the first of three Texas processing units in the second half of 2024.   

Oct 20 - LNG tanker diverts from Egypt terminal as gas flows from Israel ebb
A tanker seeking to fill up liquefied natural gas (LNG) at a terminal in Egypt left empty and diverted to another port, after an Israeli pipeline supplying gas was halted due to Israel-Hamas conflict, analysts said on Thursday. The Seapeak Catalunya tanker has changed course from Egypt's Idku LNG plant and is now heading to the Algeria's Arzew LNG facility instead, LSEG analyst Olumide Ajayi said citing shipping data.

Oct 19 - Qatar supplies gas to Europe, vying with US to replace Russia supply
Qatar has agreed to supply Shell in the Netherlands with gas for 27 years, the second such deal with a European buyer in a week, as the Gulf state competes with the United States to help Europe replace lost Russian supplies. Shell's agreement is identical to a TotalEnergies deal last week with QatarEnergy to supply France. Both are Qatar's biggest and longest gas supply deals with Europe. 

Oct 19 - EU to scrutinise foreign subsidies for wind energy sector
The European Union plans to boost financial support for the wind energy sector and scrutinise subsidies of foreign wind product imports, as local manufacturers face increased competition from China, a document seen by Reuters showed. The draft measures, which the European Commission plans to publish next week, would see the EU and its lending arm, the European Investment Bank, launch a scheme this year to counter-guarantee banks' credit exposures to wind industry suppliers.

Oct 18 - EU countries break deadlock on power market subsidies
European Union countries' energy ministers struck a deal to reform power market subsidies, Spain's energy minister said on Tuesday, defusing a stand-off between France and Germany over the future competitiveness of industrial sectors. The European Commission proposed changes to the EU's electricity market in March after EU power prices soared to record levels last year as Russian gas supplies were cut following the invasion of Ukraine.  

Oct 18 - Natgas producer Chesapeake explores buying Southwestern Energy
U.S. natural gas producer Chesapeake Energy Corp has approached Southwestern Energy, a peer valued by the stock market at $12 billion including debt, about a potential acquisition, people familiar with the matter said. Were the two companies to combine, they would overtake EQT Corp as the largest natural gas-focused exploration and production company in the U.S. by market value, at a time when shale companies are seeking scale and efficiencies.

Oct 17 - EU to push for COP28 deal on phasing out fossil fuels
EU countries' climate ministers on Monday approved the bloc's negotiating position for this year's U.N. COP28 climate summit, agreeing to push for a world-first deal to phase out CO2-emitting fossil fuels. The agreement sets up the 27-country European Union to be one of the most ambitious negotiators at the annual United Nations climate talks, where nearly 200 countries negotiate efforts to fight global warming.  "We will be at the forefront of the negotiations to show the EU's strongest commitment to the green transition and encourage our partners to follow our lead," Spain's Climate Minister Teresa Ribera said. 

Oct 17 - Marathon Oil signs deal with Glencore for Alba gas in Equatorial Guinea
Marathon Oil said on Monday it has entered into a five-year liquefied natural gas (LNG) sales agreement with a unit of Glencore for a portion of its natural gas produced from the Alba Field in Equatorial Guinea, boosting its presence in the European LNG market. The Houston-based firm, which has a 64% working interest in the Alba Unit, said the sales deal is effective Jan. 1, 2024.

Oct 16 - Romania seeking to postpone shutdown of lignite power plants (Reuters)
- Romania will seek European Commission approval to postpone the closure of its lignite-fired power plants by up to two years, Energy Minister Sebastian Burduja said on Monday. The government has committed to phasing out lignite - or brown coal - from 2026 under its European Union-funded recovery aid package, although Burduja said he would temper expectations for now on a change to the date.

State-owned lignite power holding CE Oltenia has partnered with three private companies - OMV Petrom , Tinmar and Alro Slatina  - to build solar parks and gas-fired power plants as part of Romania's energy shift.

The company has already received 1.2 billion lei ($254.85 million) in EU-approved state aid under a restructuring plan which includes clear deadlines to phase out coal. It has shut down some 950 MW worth of coal-fired power units.
"Unfortunately, because of delays, the lignite shutdown will not coincide with the coming online of these new projects, which might create difficulties for the national power grid," Burduja told a news conference.

The minister said he would go to Brussels for talks on the postponement this month.
Burduja also said Romania's gas stores are filled beyond capacity and the country could avoid having to import supplies this winter if the weather remains temperate.

Romania relies less on Russian gas than neighbours in the region, producing about 90% of its required gas locally through state producer Romgaz , oil and gas group OMV Petrom  and Black Sea Oil & Gas.

Burduja also said that he was in favour of keeping in place a government support scheme which caps power and gas prices for households and other consumers to avoid price fluctuations, particularly given conflicts in the Middle East.

The European Union state has been capping gas and power bills for various users and compensating suppliers for the difference since November 2021. Under current legislation the price caps are in place until March 2025.

($1 = 4.7087 lei)

Oct 16 - Chevron Australia LNG unions stick to strike plan even as pay talks continue
Unions at Chevron's liquefied natural gas (LNG) facilities in Australia reaffirmed their plan to resume strikes this week as mediated talks continued on Monday, sparking angry comments from the company saying workers were being unreasonable. An in-principle deal that ended weeks of strikes in September fell apart earlier this month after unions said Chevron had reneged on commitments and vowed to resume strikes at the Gorgon and Wheatstone sites, which supply around 6% of the world's LNG.

Oct 16 - Analysts lower EU carbon price forecasts on weak industry, power demand
Analysts have lowered price forecasts for EU carbon permits for 2024 and 2025 on expectations of lower demand from the power sector as generation from renewable sources such as wind and solar grows and amid a weak outlook for European industry. EU Allowances (EUAs) are forecast on average at 83.55 euros a metric tonne in 2024 and 88.95 euros in 2025, a Reuters survey of seven analysts showed.

Oct 13 - China Sept coal imports jump 27.5% on year ago
China's September coal imports surged 27.5% on the prior year, customs data showed on Friday, as buyers continued to bring in cheaper supplies from abroad ahead of the winter peak season. Imports came to 42.14 million metric tons, close to August's record 44.3 million tons.

Oct 13 - Japan has serious work cut out with carbon cutting ambitions: Maguire
Japan rolled out a carbon credit trading scheme this week as part of efforts to cut emissions and tackle climate change, but likely faces a tougher challenge than most peers when it comes to transitioning energy systems to fully run off clean power. The world's third largest economy ranks fifth in greenhouse gas emissions, spewing roughly 1.1 billion tonnes of carbon dioxide annually from energy generation and process emissions, according to the Energy Institute.

Oct 12 - NATO to respond if Baltic Sea pipeline damage deliberate - alliance chief
NATO will discuss damage to a gas pipeline and data cable running between member states Finland and Estonia, and will mount a "determined" response if a deliberate attack is proven, NATO Secretary General Jens Stoltenberg said on Wednesday. Damage to the Balticconnector pipeline and telecommunications cable was confirmed on Tuesday after one of the two pipeline operators, Finland's Gasgrid, noted a drop in pressure and possible leak on Sunday night during a storm.

Oct 12 - Hydrogen hubs located in Pennsylvania among winners of $7 bln in US grants
Two hydrogen hubs projects partially located in Pennsylvania- one in the mid-Atlanic region and one in the Appalachian region - will receive part of $7 billion in U.S. federal grants that will be announced on Friday, sources familiar with the plan told Reuters on Wednesday.President Joe Biden's administration plans to announce the winners of up to $7 billion in federal dollars from the Department of Energy that would to set the U.S. on a path to produce 50 million metric tons of clean hydrogen fuel by 2050, a key part of its plan to decarbonize the U.S. economy by mid-century.

Oct 11 - Chevron halts gas exports via EMG pipeline from Israel to Egypt
Chevron has halted natural gas exports through a major subsea pipeline between Israel and Egypt and is supplying gas via an alternative pipeline through Jordan, the company said on Tuesday. The decision to halt exports via the East Mediterranean Gas pipeline came as fighting has intensified between Israel and militants in the Gaza Strip. 

Oct 11 - Finland says 'outside activity' likely damaged gas pipeline, telecoms cable
A subsea gas pipeline and a telecommunications cable connecting Finland and Estonia under the Baltic Sea have been damaged in what may have been a deliberate act, the Finnish government said on Tuesday. NATO Secretary General Jens Stoltenberg said NATO was sharing its information over the damage and stands ready to support the allies concerned. Finland joined the military alliance in April, while Estonia has been a member since 2004.

Oct 10 - Australia LNG unions threaten fresh strikes next week, Chevron says deal possible
Chevron has asked Australia's industrial tribunal to help resolve a "small number" of issues blocking a deal with unions at its two liquefied natural gas facilities in Western Australia as workers announced plans to resume strikes next week. Chevron said on Monday it was committed to a deal with unions at its Wheatstone and Gorgon facilities and had asked the Fair Work Commission to help resolve a handful of sticking points, including how travel and meal expenses are reimbursed and cabin sharing on the offshore platform. 

Oct 10 - Global natgas demand set for slower growth to 2026, IEA says
Global natural gas demand is expected to experience slower growth to 2026 after peaking in mature markets such as Europe and North America in 2021, a report by the International Energy Agency (IEA) said. The IEA's annual medium-term gas market outlook said global gas demand was on course to increase by an average of 1.6% a year from 2022 to 2026, more slowly than the average annual rise of 2.5% between 2017 and 2021.

Oct 09 - Fortescue secures initial renewable energy for Gibson Island project
Australia's Fortescue will secure 337.5 megawatts (MW) of new solar energy as part of its renewable energy requirements for its proposed Gibson Island project from a unit of local electric utilities firm, Genex Power, the companies said on Monday. A unit of the world's fourth-largest iron ore miner inked a renewable power purchase deal with a subsidiary of Genex as Fortescue progresses with the renewable power required for the Brisbane project. 

Oct 09 - Repairing Finland-Estonia gas pipeline may take months, operator says
Repairing a subsea gas pipeline connecting Finland and Estonia that was shut on Sunday due to a suspected leak could take months or more if a puncture is confirmed, Finnish gas system operator Gasgrid said. The Balticconnector pipeline suffered a sharp drop in pressure, and work is ongoing to confirm the exact location and cause of the outage in the coming days, the company said in a statement.

Oct 06 - Chevron Australia LNG workers threaten to resume strikes after talks breakdown
Efforts to finalise a pact that ended strikes at Chevron's two Australian liquefied natural gas plants stumbled on Thursday, when workers voted to restart stoppages after unions accused the U.S. energy major of reneging on commitments. Workers called off major strikes in late September after unions and Chevron accepted proposals on pay and conditions proposed by the country's industrial arbitrator, the Fair Work Commission. 

Oct 06 - 'Europe isn't profitable' - Solar industry warns of hurdles to EU's green tech drive
Europe's bid to expand its green tech industry faces a host of challenges, including high energy costs and supply chain issues, solar industry representatives gathered in Madrid warned on Thursday. The comments come as the European Commission and European governments weigh tougher action on imports while aiming to boost clean tech manufacturing in Europe and reduce the reliance on China for products needed for the green transition.

Oct 05 - Climate change-related droughts dent progress on energy emissions
Droughts limiting hydro-electric generation globally prevented a fall in the energy sector's overall carbon emissions in the first half of 2023 despite the growth of wind and solar power, climate think tank Ember said in a report. Total power sector emissions rose by 0.2% in the first half of the year despite wind and solar's share of the global electricity supply rising to 14.3% over the same period, up 1.5% compared to the first half of 2022, Ember data showed. 

Oct 05 - New England states join to buy offshore wind power as US industry struggles
Three U.S. states in New England - Massachusetts, Rhode Island and Connecticut - on Wednesday agreed to jointly procure offshore wind power as soaring interest rates and rising equipment and labor costs have made some projects uneconomic. By joining forces, the states hope to counter the pain rippling across the nascent U.S. offshore wind industry, which is expected to play a key part in decarbonizing the power sector and revitalizing domestic manufacturing.

Oct 04 - Freeport LNG seeks to restart more of export plant in Texas
U.S. liquefied natural gas company Freeport LNG sought permission from federal energy regulators to take more steps to return its export plant in Texas to full commercial operation. Federal approval would allow the plant, which shut for about eight months from June 2022 to February 2023 after a fire, to supply more LNG to global markets ahead of the winter heating season when demand for natural gas soars in the northern hemisphere.

Oct 04 - EDF's trial electricity contracts auction for 2027-28 makes slow start
A trial EDF launched last month for a new wholesale model of auctioning electricity to be delivered in 2027 and 2028 has so far met little success, with just one contract sealed amid uncertainty over future regulation of French nuclear power, data from the state-owned power group showed on Tuesday. EDF launched the trial on Sept. 27 in a bid to get better visibility on its revenues, targeting the sale of power to competitors like oil major TotalEnergies, gas company Engie and traders.

Oct 03 - US LNG exports slump in September as plant outages pare output
U.S. exports of liquefied natural gas (LNG) fell modestly in September from August as scattered outages at four gas-processing plants led to lower shipments, LSEG vessel tracking data showed. A total of 7.12 million metric tons of the superchilled gas left U.S. ports last month, down from the 7.32 million metric tons exported in August, LSEG data showed.  

Oct 03 - Lawmakers delay decision on new EU climate policy chief
The European Parliament's environment committee on Monday delayed a decision on whether to accept former Dutch foreign minister Wopke Hoekstra as the EU's next climate change policy chief, after he sought their backing in a three-hour hearing. The decision on Hoekstra, a centre-right conservative, is now due on Tuesday afternoon following a hearing of Maros Sefcovic, a social-democrat who is the nominee to take on the job of coordinating the EU's overall green policies.

Oct 02 - Europe's solar industry warns against tariffs on imports
Europe's solar power industry has warned policymakers not to impose tariffs on imports, amid fears that disrupting supplies of products from China would seriously damage Europe's ability to rapidly install clean energy. The call comes as Brussels and European governments consider tougher action on imports as they seek to expand clean tech manufacturing in Europe and reduce the reliance on China for products needed for the green transition. 

Oct 02 - Big Oil, heavy industry discuss emission curbs ahead of COP28
Major oil and gas company chiefs held discussions with heavy industry bosses on Sunday in the United Arab Emirates in an effort to agree a firm commitment to reduce carbon emissions ahead of a United Nations climate summit next month. It is seen as a crucial opportunity for governments to accelerate action to limit global warming with reports so far showing countries are off track to meet promises to limit the rise in global temperatures to 1.5 degrees Celsius.  

Sep 29 - EIA cuts US hydropower generation forecast for 2023The Energy Information Administration (EIA) on Thursday lowered its forecast for U.S. hydropower generation in 2023 by 6% as warm weather led to reduced water supply. The northwest, which produces almost one-half of the country's hydropower, experienced above-normal temperatures in May that melted snow rapidly, resulting in a significant loss of water supply.

Sep 29 - US carbon capture pipeline setbacks reflect challenges in climate fight
A series of permit rejections for two high-profile carbon pipeline projects in the U.S. Midwest could bode poorly for carbon capture and storage (CCS) as a widespread solution to climate change, reflecting deep-seated public concern about its risks and environmental impacts. Iowa-based Summit Carbon Solutions and Nebraska-based Navigator CO2 Ventures have both proposed huge pipelines to move carbon siphoned from Midwest ethanol plants to underground storage sites in other states, the most ambitious projects of their kind to date.

Sep 28 - China moves to modernise power grid, but coal looks set to stay
China's plans to create a unified national power market should boost consumption of renewable power, analysts say, but the impact could be diluted by factors such as flexibility given to provinces in adopting the system and greater support for coal. In the bid to reform a rigid and disjointed system that has contributed to severe power outages in recent years, the powerful state planner aims to set up a national power system by 2030. 

Sep 28 - Wind power industry drifts off course
A perfect storm of supply chain delays, design flaws and higher costs in the offshore wind industry has put dozens of projects at risk of not being delivered in time for countries to meet climate goals, industry executives, investors and analysts said. The race to reduce reliance on fossil fuels is putting pressure on manufacturers and supply chains to keep pace with demand for more clean energy, especially in the European Union which is finalising a legally binding goal to produce 42.5% of energy from renewables by 2030.

Sep 27 - UK and Germany sign hydrogen energy collaboration agreement
Britain said on Tuesday it would work closely with Germany to underpin the international trade in hydrogen under a new partnership, which the government hopes will support its net zero target and bolster energy security. The countries will also collaborate to speed up the role of low-carbon hydrogen in their energy mix, the British statement added.

Sep 27 - Asia's coal sector sees long, prosperous life despite energy transition: Russell
Asia's coal sector has gone from thinking they are in terminal decline as the world shifts to a net-zero carbon future to seeing themselves as being a part of the energy mix for decades to come, while raking in profits. What has changed for the coal industry is that they no longer believe that renewable energies can be deployed fast enough, cheaply enough and at sufficient scale to push fossil fuels out of Asia's energy mix.

Sep 26 - US says to complete offshore wind auctions on schedule next year
The Biden administration will complete its ambitious offshore wind leasing schedule on time next year, the Interior Department told Reuters, despite delays to preparatory work for the auctions and sagging demand from the industry. President Joe Biden’s White House is depending on rapid adoption of offshore wind to help decarbonize the U.S. power sector to fight climate change, with a goal to install 30 gigawatts by the end of this decade.

Sep 26 - US thermal coal exports jump to 5-year highs on Asian demand: Maguire
United States thermal coal exports hit their highest levels since 2018 during the first eight months of 2023, climbing 20% from the same period in 2022 thanks to strong demand from key consumers including China, India and South Korea. Total U.S. exports of coal used for power generation hit 22.5 million tonnes through August, up from 18.3 million in the same period in 2022, according to ship tracking data from Kpler.

Sep 25 - China, India lead Asia's biggest hydropower crunch in decades (Reuters)

- Hydropower generation in Asia has plunged at the fastest rate in decades amid sharp declines in China and India, data shows, forcing power regulators battling volatile electricity demand and erratic weather to rely more on fossil fuels. The two countries, which account for about 3/4 of Asia’s power generation and most of its emissions, are also to a lesser extent using renewables to make up for the hydropower shortfall and address rising electricity use. Major Asian economies have faced power shortages in recent years due to extreme weather conditions, including intense heat and lower rainfall over large swathes of northern China and Vietnam, as well as in India’s east and the north.

- Higher use of polluting fuels such as coal to meet electricity demand spikes and supply shortages underscore the challenges of lowering emissions. Asia’s hydropower output fell 17.9% during the seven months through July, data from energy think tank Ember showed, while fossil fuel-fired power rose 4.5%.
“Despite a strong growth in solar and wind power generation in Asia, supply from fossil-fuel thermal power plants has also increased this year as a result of a large decline in hydropower generation,” said Carlos Torres Diaz, Rystad Energy’s director of power and gas markets.
“Intense and prolonged heatwaves across the region have resulted in low reservoir levels and the need for alternative sources of power to help meet demand,” he added.

- China’s hydroelectricity generation during the eight months ended August declined at the sharpest rate since at least 1989, falling 15.9%, an analysis of National Bureau of Statistics data showed.

- In India, hydropower generation fell 6.2% during the eight months ended August in the sharpest decline since 2016. Its share of power output plunged to 9.2%, the lowest in at least 19 years, according to an analysis of government data.

Sep 25 - China climate envoy says phasing out fossil fuels 'unrealistic' (Reuters)

- The complete phasing-out of fossil fuels is not realistic, China's top climate official said, adding that these climate-warming fuels must continue to play a vital role in maintaining global energy security. China is the world's biggest consumer of fossil fuels including coal and oil, and its special climate envoy Xie Zhenhua was responding to comments by ambassadors at a forum in Beijing on Thursday ahead of the COP28 climate meeting in Dubai in November. Reuters obtained a copy of text of Xie's speech, and a video recording of the meeting.

- Countries are under pressure to make more ambitious pledges to tackle global warming after a U.N.-led global "stocktake" said 20 gigatons of additional carbon dioxide reductions would be needed this decade alone to keep temperatures from exceeding the critical threshold of 1.5 degrees Celsius. The stocktake will be at the centre of discussions at the COP28 climate meeting, with campaigners hoping it will create the political will to set clear targets to end coal and oil use. Xie, however, said the intermittent nature of renewable energy and the immaturity of key technologies like energy storage means the world must continue to rely on fossil fuels to safeguard economic growth.
"It is unrealistic to completely phase out fossil fuel energy," said Xie, who will represent China at COP28 this year.

- At climate talks in Glasgow in 2021, China led efforts to change the language of the final agreement from "phasing out" to "phasing down" fossil fuels. China also supports a bigger role for abatement technologies like carbon capture and storage. While ending fossil fuel use would not be on the table at COP28, Xie said China was open to setting a global renewable energy target as long as it took the divergent economic conditions of different countries into account. He also said he welcomed pledges made to him by his U.S. counterpart John Kerry that a $100 billion annual fund to help developing countries adapt to climate change would soon be made available, adding it was "only a drop in the bucket".

- China and the United States, the world's two biggest greenhouse gas emitters, resumed top-level climate talks in July after a hiatus brought about by U.S. politician Nancy Pelosi's visit to the self-governing island of Taiwan, which China claims. China has rejected U.S. attempts to treat climate change as a diplomatic "oasis" that can be separated from the broader geopolitical tensions between the two sides, with U.S. trade sanctions on Chinese solar panels still a sore point.

- Xie said protectionism could drive up the price of solar panels by 20-25% and hold back the energy transition, and called on countries not to "politicise" cooperation in new energy. He also reiterated China's opposition to the E.U. Carbon Border Adjustment Mechanism, which will impose carbon tariffs on imports from China and elsewhere.

(This story has been corrected to read 'to keep temperatures from exceeding the critical threshold...' instead of 'rising below the critical threshold...' in paragraph 3)

Sep 25 - Western nations not ready to finance Indonesian coal plant retirements
Western countries are not ready to finance the early retirement of Indonesian coal-fired power plants under the Just Energy Transition Partnership (JETP), a government official said, based on talks held with the partnership countries. The partnership will deliver $20 billion in funds from a coalition of developed countries to help reduce its dependence on fossil fuels, but investment plans have been delayed. 

Sep 25 - US grid-scale energy storage installations hit new quarterly record
The U.S. grid-scale energy storage installations hit a new record in the second quarter of 2023, a report by Wood Mackenzie and the American Clean Power Association (ACP) said. Grid-scale energy storage is essential in helping balance and regulate energy supply in a grid that is increasingly reliant on intermittent wind and solar power.

Sep 22 - Strike ends at Chevron's Australian LNG facilities
An Australian union alliance on Friday called off strikes at Chevron's two major local liquefied natural gas (LNG) projects, agreeing to resolve disputes that had threatened to disrupt around 7% of global LNG supplies. The union alliance and Chevron accepted proposals on pay and conditions from the country's industrial arbitrator for the Gorgon and Wheatstone LNG facilities, and workers were set to end strikes that began two weeks ago. 

Sep 22 - China, India lead Asia's biggest hydropower crunch in decades
Hydropower generation in Asia has plunged at the fastest rate in decades amid sharp declines in China and India, data shows, forcing power regulators battling volatile electricity demand and erratic weather to rely more on fossil fuels. The two countries, which account for about 3/4 of Asia's power generation and most of its emissions, are also to a lesser extent using renewables to make up for the hydropower shortfall and address rising electricity use.

Sep 21 - Australia tribunal pushes Chevron, LNG unions to resolve wage fight
Australia's industrial arbitrator pushed Chevron and unions to resolve a long-running dispute over pay and conditions at two liquefied natural gas (LNG) projects and bring to an end strikes that have roiled world gas markets. The Fair Work Commission (FWC), which has the power to impose a settlement, said it "strongly recommended" parties accept its proposals to end work stoppages that began on Sept. 8 at the Gorgon and Wheatstone LNG operations, which supply around 7% of the global LNG market.

Sep 21 - Europe's power industry warns ageing grids risk green goals
Europe's electricity industry has warned that unprecedented investments are needed to upgrade ageing electricity grids, or the EU will fail to meet its clean energy targets. Electricity industry association Eurelectric said on Thursday that to support those goals, average annual investments in Europe's electricity grids from now to 2050 need to be at least 84% higher than they were in 2021.

Sep 20 - Power costs, patchwork rules hinder global energy transition, Repsol says
High electricity costs and patchwork regulations are holding back global efforts to reduce reliance on oil and gas, such as clean hydrogen, the CEO of Spanish oil major Repsol said on Tuesday. Carbon capture technology, however, is already cheap enough to justify large-scale construction in some places, CEO Josu Jon Imaz said at the World Petroleum Congress in Calgary.

Sep 20 - Clean energy investing loses lustre despite climate crisis: Maguire
Despite the heat waves, wildfires and floods that have amplified calls to accelerate the global energy transition away from fossil fuels, investors withdrew record funds from the world's largest clean energy investment vehicles so far this year. Investors withdrew a net $765 million through August from the world's largest clean energy exchange traded fund, the iShares Global Clean Energy ETF (ICLN), which is by far the largest net outflow on record of investor money from that fund during any January-August period, LSEG data shows.

Sep 19 - Coal from Russian-annexed Ukraine sold in NATO member Turkey - data, sources
At least $14.3 million worth of coal produced in areas of Ukraine annexed by Russia has been exported to NATO member Turkey this year, according to Russian customs data reviewed by Reuters. Between February and July 2023, about 160,400 tonnes of coal from the annexed eastern Ukrainian regions of Donetsk and Luhansk arrived in Turkey, the data showed. Three producers listed in the customs data confirmed to Reuters they had shipped coal from the two regions to Turkey during that period.

Sep 19 - Orsted CEO says US offshore wind targets still possible but not easy
U.S. President Joe Biden's plan to deploy 30,000 megawatts (MW) of offshore wind by 2030 is still possible, although not easy, the CEO of Orsted, the world's largest offshore wind developer, said on Monday at the Climate Week NYC event in New York. The remarks by Orsted CEO Mads Nipper come as soaring costs and supply chain delays have increasingly cast doubt on the Biden administration's goal, a cornerstone of its plan to fight climate change.

Sep 18 - Chevron Australia says full production resumes at strike-hit Wheatstone LNG plant
Chevron said full production had resumed at its strike-hit Wheatstone liquefied natural gas (LNG) facility in Western Australia after a fault last week cut production by about one-fifth. Workers began 24-hour strikes over the weekend at Chevron's Gorgon and Wheatstone LNG facilities, which account for over 5% of global supply, escalating what had been six days of brief work stoppages and limited bans on certain tasks.

Sep 18 - Biden’s offshore wind target slipping out of reach as projects struggle
President Joe Biden’s goal to deploy 30,000 megawatts of offshore wind along U.S. coastlines this decade to fight climate change may be unattainable due to soaring costs and supply chain delays, according to forecasters and industry insiders.The 2030 target, unveiled shortly after Biden took office, is central to Biden's broader plan to decarbonize the U.S. economy by 2050. It is also crucial to targets of Northeast states hoping wind will help them move away from fossil fuel-fired electricity.

Sep 15 - China coal output rises in August but restrained by safety steps
China's August coal output rose 2% from a year earlier, rebounding modestly after tightened safety measures reined in operations at the major mining hubs the month before, although analysts expected the curbs would continue to constrain production. China, the world's biggest coal producer, churned out 382.17 million metric tons of the fossil fuel last month, equivalent to 12.33 million tons per day, data from the National Bureau of Statistics showed. 

Sep 15 - Freeport LNG cancels four cargoes since feedgas intake fell
Freeport LNG, the second-largest U.S. liquefied natural gas exporter, has cancelled four cargoes since its feedgas intake dropped below normal capacity, industry sources told Reuters on Thursday. The cargoes cancelled included ones for a major portfolio player and a Japanese firm, the sources said.

Sep 14 - Freeport LNG feedgas intake cut for fifth day -LSEG data
Freeport LNG's natural gas intake at its plant in Texas was well below capacity for a fifth straight day, according to LSEG data, suggesting a persistent outage at the plant, analysts said. The second-largest liquefied natural gas producer in the U.S. was today at 334 million cubic feet compared to a typical draw of about 2 billion cubic feet per day of natural gas, LSEG data showed. 

Sep 14 - Chevron Australia LNG workers escalate strikes, 24-hour stoppages possible
Workers at Chevron's two liquefied natural gas projects in Australia plan to escalate industrial action from Thursday to anything from a total strike to hours-long work stoppages, their union said, increasing the risk of disrupted output from facilities accounting for over 5% of global supply. Workers at the Gorgon and Wheatstone facilities have been stopping work briefly for the past six days, after talks with Chevron over wages and working conditions broke down.

Sep 13 - Freeport LNG gas intake cut for a fourth day to about a third -LSEG
Freeport LNG's natural gas intake on Tuesday remained well below capacity for a fourth day, at about 695 million cubic feet per day, or about a third of its normal rate, according to LSEG data. The second largest liquefied natural gas producer in the U.S. typically draws about 2 billion cubic feet per day of natural gas, but since Saturday has absorbed significantly less, the data showed. 

Sep 13 - US regains crown as world's largest LNG exporter -EIA
The U.S. regained its crown as the world's largest exporter of liquefied natural gas in the first six months of this year, according to the U.S. Energy Information Agency. US exports of the superchilled gas, particularly to Europe, have jumped in the last year as buyers looked for alternatives to Russian gas imports and to fill Europe's storage inventories, the EIA said.

Sep 12 - Feedgas flows to U.S. Freeport LNG drop sharply -LSEG data
Feedgas flows to Freeport LNG, the second-largest U.S. liquefied natural gas exporter, dropped sharply over the weekend and remained down for the third day in a row on Monday, LSEG data showed. Input levels on the pipeline serving the facility showed feed levels had fallen to 702.9 million cubic feet per day on Sept. 9 and dropped further to 284.3 mcf/day on Sept. 10, down from 1,640.3 mcf/day Sept. 8, LSEG data showed.  

Sep 12 - Colombia mulls making Ecopetrol mandatory partner in offshore wind farms
Colombia's government is considering revising rules to make majority state-run energy company Ecopetrol an obligatory partner in every offshore wind project, three people familiar with the matter told Reuters. The Ministry of Mines and Energy will consult businesses interested in taking part in Colombia's first-ever offshore wind auction about the proposal, one of the sources said in recent days, adding that feedback so far has been positive.

Sep 11 - Chevron, LNG Workers At Loggerheads. Oil giant no longer expects a deal with unions (Reuters)

Australia is one of the largest producers of liquefied natural gas (LNG), and impending strikes could take out about 5% of world supply.

The ongoing labor dispute in Australia between Chevron and workers at liquefied natural gas (LNG) plants is getting more heated. Unions are set to strike at two facilities that account for roughly 5% of the world’s supply of the super-cooled fuel – and Chevron no longer expects a deal with unions, as Lewis Jackson and Roushni Nair report.  
 
Instead, they are pursuing an untested legal strategy to stop the action at its Gorgon and Wheatstone facilities - by applying to Australia's industrial umpire, the Fair Work Commission, for what is known as an "intractable bargaining" declaration. That would end the strikes and allow an arbiter to impose an agreement after five days of last-minute negotiations went nowhere. The strikes are meantime expected to begin Thursday without some kind of agreement, with unions saying that they were “bunkering down for a long dispute.” 

Chevron Australia no longer expects to reach a deal with unions and will instead pursue an untested legal strategy to stop industrial action at its Gorgon and Wheatstone liquefied natural gas facilities as unions prepare for full scale strikes. Hundreds of workers at the facilities, which account for over 5% of global supply, started short strikes on Friday after five days of last-minute negotiations broke down without a deal. Unions have said they will escalate to two weeks of 24-hour strikes from Thursday.

Sep 11 - Europe’s gas storage must peak early this autumn: Kemp
Europe’s natural gas inventories are at a record high for the time of year, but storage additions have slowed sharply, significantly reducing the risk storage sites will become full before the main winter heating season arrives. Inventories across the European Union and the United Kingdom had climbed to 1,071 terawatt hours by Sep. 6, according to Gas Infrastructure Europe (“Aggregated gas storage inventory”, GIE, Sep. 8).

Sep 08 - Strikes to start at major Chevron Australia LNG projects
Workers at Chevron's liquefied natural gas projects in Australia will start strike action after mediation talks between unions and the energy major ended without a deal, potentially disrupting output from facilities that account for over 5% of global supply. Australia is the world's biggest LNG exporter, and its main buyers are in Asia. The dispute over wages and conditions at Chevron's Gorgon and Wheatstone operations had supported British and European gas prices, as traders fear lower Australian supplies would intensify competition for other sources of the super-chilled fuel. 

Sep 08 - US wind power generation breaks out of summer doldrums: Maguire
After months of low wind speeds in several key wind farm areas, U.S. wind power generation hit its highest levels in nearly five months in early September as wind speeds picked up. Unusually low wind speeds caused U.S. wind generation to slump by more than 4.5% over the first eight months of 2023 from the same period in 2022, according to data compiled by LSEG.

Sep 07 - Shell ditched major works on giant LNG facility in favour of quick fix
Shell considered shutting its flagship Prelude liquefied natural gas facility off Australia for a year to fix issues that have plagued its operations, but instead opted for shorter maintenance period to allow it to capture strong gas demand, three industry sources said. Prelude, whose deck is longer than four soccer fields, was the world's first floating LNG facility to use novel technology and cost over $12 billion, according to estimates. 

Sep 07 - India seeks more natural gas amid emergency measures to end blackouts
India is seeking additional volumes of natural gas and has asked utilities to expedite completion of power plant maintenance, as part of emergency steps to stop electricity outages, according to a government note seen by Reuters. The move follows extension of an emergency law that forces power plants running on imported coal to maximise output, as record power demand in August due to unusually dry weather, and a sharp decline in hydro and wind energy output resulted in the country's widest electricity shortage in 16 months.

Sep 06 - Chevron, unions in final talks ahead of planned Australia LNG strikes
Chevron and a union alliance will hold a final round of talks ahead of planned strike actions at two major liquefied natural gas facilities in Australia as ongoing disputes over pay and conditions remained unresolved. Workers are set to begin brief work stoppages and ban certain tasks from Thursday at Chevron's Gorgon and Wheatstone facilities and plan to escalate to a total strike for two weeks from Sept. 14 if their terms are not met.  

Sep 06 - Enbridge set to be top US gas supplier with $14 bln bid for Dominion utilities
Enbridge will buy three utilities from Dominion Energy for $14 billion including debt, the Canadian pipeline operator said on Tuesday, creating North America's largest natural gas provider and doubling its gas distribution business. The deal is seen as a bet on the future of natural gas in a regulated market even as energy companies and consumers are transitioning to a greener future by phasing out fossil fuels.

Sep 05 - Chevron faces two-week total strike at Australia LNG projects
Workers at Chevron's Gorgon and Wheatstone liquefied natural gas projects in Australia plan a total strike for two weeks from Sept. 14, a union alliance said, a significant escalation on disputes over pay and conditions. The decision comes amid mediation talks hosted by the Fair Work Commission, Australia's industrial arbitrator, which began on Monday and is scheduled to run every day this week, and ahead of brief work stoppages called by the union from Thursday.

Sep 05 - Hundreds of millions of dollars pledged for African carbon credits at climate summit
An initiative to boost Africa's carbon credit production 19-fold by 2030 drew hundreds of millions of dollars in pledges on Monday, as Kenyan President William Ruto opened the continent's first climate summit. In one of the most anticipated deals, investors from the United Arab Emirates committed to buying $450 million of carbon credits from the Africa Carbon Markets Initiative, which was launched at Egypt's COP27 summit last year.

Sep 04 - Chevron begins mediation talks to avert Australia LNG strike
Mediation talks to avert strikes at U.S. energy major Chevron's two major liquefied natural gas facilities in Australia began after workers rejected the company's offer on wages and working conditions last week. A senior member of the Fair Work Commission, Australia's industrial umpire, will host the talks from 9 a.m. in the Western Australia state capital of Perth through this week, a schedule of hearings showed. 

Sep 04 - India steps up coal use to stop outages triggered by unusually dry weather
India has stepped up the use of coal to generate electricity in a bid to stop outages caused by lower hydroelectricity output, and as an increase in renewables is struggling to keep pace with record power demand. It is unusual for India's electricity use to spike in August, when temperatures are lower due to the annual monsoon that runs between June and September. Demand typically peaks in May, when Indians crank up air-conditioners to beat the heat, and industries operate without rain-related disruptions.

Sep 01 - Equinor, BP seek 54% hike in US offshore wind power price, filings show
Norway's Equinor and its partner BP are seeking a 54% increase for the price of power produced at three planned offshore U.S. wind farms, according to a filing made by a New York state regulatory authority. The two partners in recent years won the rights to build the Empire Wind 1, Empire Wind 2 and Beacon Wind wind farms off the New York coast, which have a combined capacity of 3,300 megawatts, capable of powering millions of homes.

Sep 01 - Gazprom accounts for more than half of increase in China's gas imports - CEO
Alexei Miller, the chief executive of Russian gas giant Gazprom, said on Thursday that the company accounts for more than half the increase in China's gas imports this year, without providing figures. Gazprom's natural gas exports, mainly to Europe, almost halved last year after the West responded with economic sanctions to Moscow calls a "special military operation" in Ukraine, and unexplained blasts on the Nord Stream gas pipelines under the Baltic Sea.

Aug 31 - GLOBAL LNG-Asian spot prices flat amid more certainty over Australia strike action (Reuters)

- Asian spot liquefied natural gas (LNG) prices held steady this week as more certainty over potential strike action at LNG facilities in Australia kept buyers on the sidelines from seeking replacement cargoes. The average LNG price for October delivery into north-east Asia LNG-AS remained at $13.00 per million British thermal units (mmBtu), industry sources estimated.
“A greater degree of certainty has emerged regarding strike action at Australian liquefaction terminals — specifically the Gorgon and Wheatstone facilities,” said Samuel Good, head of LNG pricing at commodity pricing agency Argus.
“General expectations from Asian buyers are for only limited impact on cargo availability... Little interest has so far emerged for replacement cargoes, with terminal inventories in northeast Asia largely remaining high as power sector cooling demand begins to wane with the seasonal fall in temperatures across much of the region.”

- He added that based on weather forecasts, winter heating demand in northeast China is also unlikely to begin until late October, and even further into winter for South Korea and Japan.

- Two major LNG production facilities operated by Chevron could face daily work stoppages of up to 10 hours next week after unions on Tuesday threatened labour action in a dispute over pay and conditions. Workers at Gorgon and Wheatstone downstream facilities plan to stop work for seven hours in two-time blocks on Sept. 7, escalating to 10 hours on Sept. 8 and 11 hours on Sept. 9. A smaller stoppage of three hours is planned at the Wheatstone production platform from Sept. 7.

- Rising inventories in East Asian consumers have also kept a lid on prices.
“After concerns of Japan sitting on low stockpiles and potential supply disruptions on the horizon, Japan has finally snuck above the 5-year average for this time of the year,” said Dominic Gallagher, head of LNG broking at Tullett Prebon.
“China is also looking well stocked with some forecasts suggesting it could reach 90% of total capacity next month.”

- In Europe, S&P Global Commodity Insights assessed its daily north-west Europe LNG Marker (NWM) price benchmark for cargoes delivered in October on an ex-ship (DES) basis at $12.082/mmBtu on Aug. 30, a $0.40/mmBtu discount to the October gas price at the Dutch TTF gas hub, said Allen Reed, managing editor, Atlantic LNG.
“After weeks of Atlantic price reactions and market focus on Australia, the market saw muted response following the announcement of industrial action at Chevron facilities,” he said.
“European traders have said the expectation of the strikes was already priced in and that high gas inventory levels in Europe and Asia have been the primary reason prices haven’t risen on the news.”

Argus assessed the north-west Europe DES price at $11.75/mmBtu.

- Meanwhile, spot LNG freight rates rose this week, with Atlantic rates gaining $7,500 week-to-date to $121,750/day on Thursday. Pacific rates are up $4,500 to $127,250/day, said Henry Bennett, head of pricing at Spark Commodities.
“Rates are significantly higher than at this time last year when the Atlantic and Pacific (rates) were just at $81,750/day and $71,750/day respectively,” he said.

Aug 31 - US LNG projects win higher processing fees as interest rates climb
Long-term buyers of U.S. liquefied natural gas are willingly agreeing to higher liquefaction fees at newer export projects, according to analysts and developers familiar with the matter. The U.S. emerged in 2022 as the world's second largest LNG exporter on plentiful supplies of natural gas and relatively low processing costs per metric ton of LNG. But rising interest rates and higher construction costs have pushed up liquefaction fees, also known as tolling fees.  

Aug 31 - Prospect of strong El Niño weighs on U.S. gas prices: Kemp
Rapidly forming El Niño conditions over the central and eastern Pacific Ocean have increased the probability of a strong episode this winter that would likely raise temperatures and cut gas consumption in the United States. Sea surface temperatures in the most critical region of the ocean have warmed rapidly and have been almost +1.3°C above the long-term seasonal average so far in August having started the year -0.7°C below average in January.

Aug 30 - First US offshore wind auction in Gulf of Mexico attracts paltry interest
The Biden administration's first ever auction of offshore wind development rights in the Gulf of Mexico ended with a single $5.6 million winning bid on Tuesday, reflecting meager demand for the clean energy source in a region known for oil and gas production. Germany's RWE won rights to 102,480 acres off Louisiana - the lowest winning bid for a federal offshore wind lease at auction since the Obama administration - while the other two lease areas on offer off Texas received no bids, according to results posted online by the U.S. Bureau of Ocean Energy Management.

Aug 30 - Japan's Mitsui, others to jointly study hydrogen, ammonia supply chain in Osaka
Japan's Mitsui & Co, Mitsui Chemicals, IHI Corp and Kansai Electric Power Co will conduct a joint study for establishing a hydrogen and ammonia supply chain in the Osaka coastal industrial zone, the companies said. The announcement comes a day after Eneos and Osaka Gas said they would study the construction of a large e-methane facility - based on green hydrogen - and to be located in the Osaka Bay area.

Aug 29 - Chevron's Australia LNG ops could face daily 10-hr stoppages as union fight escalates
Chevron's two major liquefied natural gas production facilities in Australia could face daily work stoppages of up to 10 hours next week after unions threatened labour action in a dispute over pay and conditions. Chevron's Gorgon and Wheatstone projects account for more than 5% of global LNG capacity, and news of the possible strikes sent European natural gas prices surging.  

Aug 29 - Exxon says world set to fail 2°C global warming cap by 2050
Oil and natural gas are still projected to meet more than half of the world’s energy needs in 2050, or 54%, Exxon Mobil said on Monday, with the world failing to keep global temperature increases below 2 degrees Celsius. The largest U.S. oil producer projects the world will reach 25 billion metric tons of energy related carbon dioxide (CO2) emissions in 2050, according to its energy outlook published on Monday.

Aug 28 - Asia LNG loses some strike froth, but fundamentals are supportive: Russell
Spot prices of liquefied natural gas retreated in Asia as the threat of imminent strike action at three Australian plants eased, but solid fundamentals are keeping prices elevated for future deliveries. The LNG spot price for delivery to North Asia slipped to $13.00 per million British thermal units (mmBtu) for the week ended Aug. 25, down from $14.00 previously, but still 44% above this year's low of $9.00 from early June. 

Aug 28 - India’s massive renewables deployment helps meet record power demand: Kemp
India’s electricity consumption hit a new high this summer but the transmission grid has been much more stable because of increased generation from renewables as well as plentiful fuel stocks at coal-fired power plants. Electricity consumption peaked at a record 223 Gigawatts (GW) in June, up from a peak of 212 GW in June 2022, according to the Grid Controller of India.

Aug 25 - Australia union threatens strikes at Chevron LNG facilities
Unions at Chevron's liquefied natural gas (LNG) facilities in Australia warned on Friday that work stoppages could cost the U.S. energy major billions of dollars if demands over wages and conditions were not met. The warning came even as workers at a nearby Woodside facility voted to approve a deal struck by the same unions.

Aug 25 - Total spending on fuel subsidies topped $7 trillion in 2022, IMF says
Global subsidies for fossil fuels rose by $2 trillion over the past two years to reach a record $7 trillion in 2022, according to new estimates from the International Monetary Fund. The soaring costs, driven by post-pandemic consumption growth and by rising energy costs stemming from Russia's 2022 invasion of Ukraine, are straining budgets, adding to pollution and exacerbating global warming, the IMF said in a report.

Aug 24 - Woodside, unions reach deal at Australian LNG facility, workers meet to ratify
Woodside Energy on Thursday reached an in-principle agreement with unions at Australia's largest liquefied natural gas (LNG) project, potentially averting a disruption to supplies from the world's biggest exporter of the super-chilled fuel. Both Woodside and the union alliance representing workers at the offshore platforms of its North West Shelf facility announced the initial deal in separate statements after a round of talks both sides deemed positive. 

Aug 24 - EU to open third round of joint gas buying in September
The European Union will open its third round of joint gas buying next month, as the bloc moves to secure supplies in preparation for another winter with scarce Russian gas. The EU started collectively buying gas this year, as part of its response to Russia slashing gas deliveries in 2022 following its invasion of Ukraine.

Aug 23 - Asian buyers may seek U.S. LNG if Australia worker disputes worsen, analysts say
Major Asian buyers of liquefied natural gas (LNG) could seek U.S. cargoes in the coming weeks if worker-related disputes at key LNG facilities in Australia escalate, analysts said, as electricity demand continues surge due to warm weather. Uncertainty over labour disputes at western Australian facilities run by Woodside Energy Group and U.S. major Chevron have spurred Asian LNG prices to their highest in five months, and analysts say they could rise further. 

Aug 23 - Woodside, unions to meet for key talks as strike threats loom over Australia LNG facilities
Woodside Energy and unions will meet for a key round of talks on Wednesday in a bid to avoid strikes at Australia's largest liquefied natural gas (LNG) facility as disputes over wages and conditions remained unresolved. Any disruption to work could slow the exports of the super-chilled fuel from Australia, the world's biggest LNG exporter, which would force Asian buyers to outbid European buyers to attract cargoes.

Aug 22 - Woodside says takes 'two to tango' on LNG strike talks, union warns 'ready to go'
Woodside Energy is proceeding with respect in its talks with unions to avert any strike at Australia's largest liquefied natural gas (LNG) facility, its CEO said on Tuesday, while a union alliance warned its members were "primed and ready to go". The comments come a day ahead of a crucial meeting between the management and the unions to avoid industrial action at the Woodside-operated North West Shelf offshore gas platforms.   

Aug 22 - Shippers bet on green methanol to cut emissions, supply lags
Container shippers are ordering vessels powered by methanol to reduce greenhouse gas emissions, but it will take years for renewable methanol output to meet demand and for costs to fall, industry executives said. The first green methanol-fuelled container ship, owned by A.P. Moller-Maersk, sailed from South Korea in July.

Aug 21 - China LNG buyers expand trading after adding more US, Qatari contracts
China's liquefied natural (LNG) gas importers are starting up or expanding trading desks in London and Singapore to better manage their growing and diversified supply portfolios in an increasingly volatile global market. The beefed-up trading presence of Chinese importers puts them in direct competition with such global heavyweights as Shell, BP, Equinor and TotalEnergies for a market that the International Energy Agency says doubled in value to $450 billion last year.  

Aug 21 - Australian LNG strike looms, impact likely limited for now: Russell
The likelihood of industrial action at three Australian liquefied natural gas facilities is increasing, but the question for the market is what is the potential impact on the supply of the super-chilled fuel. Unions at Woodside Energy Group's North West Shelf offshore gas platforms announced plans on Aug. 20 to strike as early as Sept. 2, the latest escalation in a long-running dispute over pay and conditions.

Aug 18 - Workers begin strike vote at Chevron's LNG facilities in Australia
Chevron faces the prospect of work stoppages or even an all-out strike at Australia's second largest liquefied natural gas (LNG) plant at Gorgon and at its Wheatstone operations after voting opened on Friday for a union ballot. Australia is one of the largest exporters of LNG to the world along with Qatar and the United States, and concerns about a strike have spurred volatility in European gas prices over fears the move would fuel competition between Asian and European buyers for cargoes. China and Japan are the top lifters of Australian LNG, followed by South Korea and Taiwan.  

Aug 18 - Texas grid operator issues voluntary power conservation call due to heatwave
The main grid operator in Texas said on Thursday it had engaged its emergency system after electricity reserves dropped below the critical 3,000 MW level due to increased power usage amid a heatwave. The Electric Reliability Council Of Texas (ERCOT), which operates the grid for more than 26 million customers which use about 90% of the state's power load, said it had operating reserves of 2,929 MW as of 8:37 p.m. CDT.

Aug 17 - Ukraine has no plans to talk with Russia on gas transit contract renewal ( VOA & Reuters )

- Ukrainian Energy Minister German Galushchenko said on Wednesday Kyiv will not join in talks with Russia about a renewal of the contract for the transit of Russian gas through Ukrainian territory which is due to expire next year.
"We will not be a party at the talks with the Russians for sure, it's absolutely obvious," he told the Ukrainian service of U.S. broadcaster Voice Of America.

- Russia has said that it would consider extending the contract that allows it to send gas to Europe via Ukraine beyond 2024, if the European Union - that has pledged to quit Russian gas by 2027 - still needs such supplies. Galushchenko said that chances were high that there would be no demand for Russian gas in European countries.
"The next year will show if Europe can function without Russian gas at all," Voice Of America quoted him as saying.
"I see all preconditions for that to happen."

Aug 17 - One year on, Biden still needs to explain his signature clean energy legislation
U.S. President Joe Biden on Wednesday marks the first anniversary of signing his signature clean energy legislation called the Inflation Reduction Act by leading a campaign to better explain to Americans what, exactly, it does. The climate-focused bill provides billions of dollars in tax credits to help consumers buy electric vehicles and companies produce renewable energy, as Biden aims to decarbonize the mighty U.S. power sector. It also helps seniors pay for prescription drugs, expands some elements of Obamacare and asks wealthy Americans and corporations to pick up the tab.

Aug 17 - India's coal emissions set for new highs on low-grade imports - Maguire
India's annual coal emissions are on track to scale new highs in 2023, after the power sector discharged record volumes of carbon dioxide in the first half and lifted imports of low-quality and high-polluting coal on world markets. India's power producers discharged over 500 million tonnes of CO2 from burning coal over the first half of 2023, a 4% rise over the same period in 2022 when a new annual record for coal power emissions was set, data from think tank Ember shows.

Aug 16 - Colombia's potential renewables boom short circuits on Indigenous resistance
In May, a forum bringing together leaders debating wind and solar development in Colombia's La Guajira province was disrupted by a chorus of passionate opposition. "La Guajira is not for sale!" exclaimed one attendee, a member of the area's Wayuu Indigenous community, who led the chant with others as the then-energy minister and local officials looked on. 

Aug 16 - Woodside, unions remain at odds over wages at Australia's largest LNG facility
Woodside Energy said on Wednesday "positive progress" was being made on wage disputes at Australia's largest liquefied natural gas (LNG) facility even as a union alliance said key differences remained. Woodside's North West Shelf, along with Chevron's Australian LNG operations of Gorgon and Wheatstone, supply about 10% of the global LNG market.

Aug 15 - China's July daily coal output falls to 9-month low
China's average daily coal production fell in July to the lowest since October, as ongoing safety inspections at mines put a lid on production, while high inventory and declining domestic prices also discouraged mining operations. China produced 377.54 million metric tons of coal last month, equivalent to 12.18 million tons per day, which was down 6.3% from June but was around the same month last year, National Bureau of Statistics (NBS) data showed. 

Aug 15 - Yellen warns of risks of over-concentration of clean energy supply chains
The United States is working to build resilient, diversified clean energy supply chains to protect its economic security, while guarding against the risks posed by over-concentration in a handful of countries, U.S. Treasury Secretary Janet Yellen said in remarks prepared for an event in Las Vegas on Monday. Yellen will touch on the challenges of transitioning away from fossil fuels in a major speech she will deliver after touring a union facility where workers are learning skills to work on clean energy projects.

Aug 14 - US awards $1.2 bln to carbon air capture hubs by Oxy, Climeworks
The U.S. Department of Energy on Friday announced that projects in Texas and Louisiana to remove more than 2 million metric tons of carbon emissions per year will get over $1 billion in federal grants, a key step in scaling up direct air capture (DAC) technology. The Department of Energy (DOE) selected Project Cypress in Louisiana, run by Battelle, Climeworks Corporation and Heirloom Carbon Technologies; and the South Texas DAC Hub in Kleberg County, Texas, proposed by Occidental Petroleum's (Oxy) subsidiary 1PointFive and partners Carbon Engineering Ltd and Worley.  

Aug 14 - Germany economy ministry supports 'fair' distribution of wind power expansion costs
Germany's economy ministry is in favour of distributing the network costs of expanding renewable energies "fairly" among the country's federal states, a spokesperson for the ministry said on Sunday. A dispute between the northern and southern states has intensified recently, with northern-state residents complaining about higher electricity prices in their region despite cheaper wind power production there. 

Aug 11 - Australia regulator clears way for strike vote at Chevron LNG plantsAustralia's labour regulator has issued an order allowing a workers' union to check with employees about whether to go on strike at Chevron's Wheatstone and Gorgon liquefied natural gas (LNG) facilities. The Fair Work Commission in the order dated Thursday said the union can hold a protected action ballot of employees on any decisions over an industrial action.

Aug 11 - Indonesia's gas ambition faces investor test with Shell, Chevron exits
Indonesia hopes the recent exit of global giants Shell and Chevron from two long-delayed natural gas projects will jumpstart their development, as it races to more than double gas production by 2030. The Masela and Indonesia Deepwater Development (IDD) projects, together estimated to cost $27 billion, are test cases for Indonesia to show its commitment to attracting oil and gas investment and reversing a decade-long output decline before climate change kills demand for its fossil fuels.

Aug 10 - Bulk of UK corporate carbon emissions not covered by reduction target
Two-thirds of UK corporate emissions are not covered by decarbonisation targets while a fifth or more of companies with 2030 targets are not on course to meet them, a report from disclosure platform CDP and consultants Bain & Company showed. In the UK Climate Report released on Thursday, CDP and Bain said the number of companies lagging was likely even greater when counting those which do not disclose to CDP or which have yet to set an emissions-reduction target.

Aug 10 - Chevron, Woodside in talks to avert strikes at Australian LNG operations
Chevron and Woodside Energy Group said on Thursday they are holding talks with unions to avert threatened strikes at gas facilities that together supply about 10% of the global liquefied natural gas (LNG) market. Concerns over potential industrial action at three Australian LNG operations - North West Shelf, Gorgon and Wheatstone - sent European gas prices to a nearly 2-month high on Wednesday.

Aug 09 - Biden's carbon proposal is unworkable, US power sector warns
U.S. power plant owners warned the Biden administration on Tuesday that its sweeping plan to slash carbon emissions from the electricity sector is unworkable, relying too heavily on costly technologies that are not yet proven at scale. Top utility trade group the Edison Electric Institute (EEI) asked the U.S. Environmental Protection Agency (EPA) for revisions of the proposed power plant standards, which hinge on the widespread commercial availability of carbon capture and storage (CCS) and low-emissions green hydrogen, adding the agency's vision was "not legally or technically sound."

Aug 09 - Defying war risk, European traders store gas in Ukraine
European gas traders have begun storing natural gas in Ukraine to take advantage of lower prices and available capacity there, regardless of the risks from the ongoing war, three traders and company officials said. Following Russia's invasion of Ukraine, begun in February last year, the European Union (EU) has sought high levels of gas storage to compensate for reduced Russian supply, especially during the peak demand winter months.

Aug 08 - China's July coal imports surge as heatwaves drive power use
China's coal imports remained at elevated levels in July after overseas purchases nearly doubled in the first half of 2023, as utilities continued to bring in cheaper supplies to meet peak summer power demand, data showed on Tuesday. The world's top coal consumer imported 39.26 million metric tons of coal last month, a touch below the 39.87 million metric tons in June and compared with average monthly amounts of 37 million metric tons between January and June, data from the General Administration of Customs showed.

Aug 08 - Australia's Woodside to sell 10% stake in Scarborough to LNG Japan for $500 mln
Woodside Energy Group said on Tuesday it had entered a deal with LNG Japan to sell a 10% participating interest in its $12 billion Scarborough liquefied natural gas (LNG) project in Australia for $500 million. Australia's No.1 independent oil and gas producer, which owns 100% of the project since merging with BHP in 2022, has long flagged its interest to sell down its stake in the venture.

Aug 07 - Asia spot prices ease slightly as demand remains tepid
Asian spot liquefied natural gas (LNG) prices fell slightly this week, as demand in the region remained weak. The average LNG price for September delivery into northeast Asia was $10.90 per million British thermal units (mmBtu), industry sources estimated, edging down from $11/mmBtu the previous week.

Aug 07 - Japan to start Fukushima water release as early as late Aug -media
Japan plans to start releasing treated radioactive water from the tsunami-wrecked Fukushima nuclear power plant into the ocean as early as late August, Japan's Asahi Shimbun daily reported on Monday, citing unidentified government sources. The release will most likely come shortly after Prime Minister Fumio Kishida meets with U.S. President Joe Biden and South Korean President Yoon Suk Yeol in the United States next week and explains to them how the water release will be safe, it said.

Aug 04 - Japan's nuclear restarts this year to accelerate LNG import decline
Kansai Electric Power's plan next month to relaunch the last idle reactor at its flagship nuclear plant, capping a year-long series of restarts, will mark an energy shift in Japan with the sharpest drop in LNG imports since the Fukushima disaster. Japan, the world's top buyer of liquefied natural gas (LNG), was forced to sharply increase its purchases of the super-chilled fuel after the 2011 disaster, which led to the shutdown of all 54 of its nuclear reactors.

Aug 04 - Mission possible? Power companies more hopeful of Trudeau climate goal than Alberta premier
Prime Minister Justin Trudeau is aiming to turn Canada's power grid net-zero by 2035, a goal that the premier of oil and gas-producing Alberta says she will defy, charging it is unrealistic before 2050. But power-generating companies in the country's highest greenhouse gas-emitting province are more optimistic and say they are looking to eliminate or offset direct emissions well ahead of Alberta's target, even if they are not committing to Trudeau's either.

Aug 03 - China's energy-security push drives up fossil-fuel approvals, Greenpeace research shows (Reuters)

- China approved more than 50 gigawatts of new coal power in the first half of 2023, research by environment group Greenpeace showed, with the world's top carbon polluter focused on energy security rather than cutting fossil fuel consumption. As scientists and environmentalists urge governments to make deeper emission cuts after record-breaking heatwaves across the globe, the impact of extreme weather has spurred China to build even more coal-fired plants as it tries to counter the effects of drought on hydropower production and avoid power outages.
"China's government has put energy security and energy transition at odds with one another," said Greenpeace's Gao Yuhe, who led the research published on Thursday.

- Beijing has promised to bring carbon emissions to a peak before 2030, but another pledge made by President Xi Jinping to start cutting coal use over the 2026-2030 period is now under threat, Gao said.
"Beijing has clearly stated that coal power will still grow at a 'reasonable pace' into 2030," she said.

- China's National Energy Administration (NEA) did not immediately reply to a fax sent requesting a comment on the coal plants and their power generation policies. Coal output in China surged 9% to 4.5 billion tons last year, more than half the world's total, and continued to rise this year, government data showed, with coal plants under pressure to offset a 22.9% decline in hydropower generation during the first half.

- The increase in China's coal usage reflects a worldwide pattern. The International Energy Agency said last week that global coal consumption reached a record 8.3 billion tons in 2022, with strong growth in Asia offsetting declines elsewhere. In March, the National Development and Reform Commission, China's state economic planner, said it would "strengthen" coal's supporting role in the overall energy mix.

- China has built more than 1,000 GW of coal-fired capacity from 2000 to 2022, enough to power the entire European Union and amounting to 69% of total global additions, according to data compiled by the Global Energy Monitor think tank.

'BUILT-IN BIAS'
- Officially, many of China's new coal-fired power plants are designed to provide back-up for clean but weather-dependent power sources like wind, solar, and hydro, especially during droughts or peak consumption periods. But China's "built-in bias to coal" is preventing it from investing more in critical energy storage infrastructure that could make renewable power more reliable, Gao said.
- The scale of the new builds also suggests the main motivation is economic growth and the argument that they are backing renewables is becoming less convincing, said Jorrit Gosens, a climate researcher at the Australian National University.
"The story has long been that capacity does not matter so much, as long as these plants are not also run at high rates of utilisation, but you have to be quite an optimist to repeat that by now," he said.
- While coal power inches up, China's renewable installations have also continued to soar, with capacity rising 109 GW in the first half, according to NEA data.
"The good news, as always, remains that renewables keep getting more competitive, and are being built at a record pace," said Gosens. "That will start to eat into coal's market share fairly soon."

Aug 03 - US doubles renewable subsidies to $15.6 billion in last seven years -EIA
U.S. subsidies for renewable energy producers more than doubled between 2016 and 2022, forming nearly half of all federal energy-related support in that period, a U.S. government report released on Tuesday showed. Renewable subsidies jumped to $15.6 billion in fiscal year 2022 from $7.4 billion in fiscal year 2016, according to the Energy Information Administration's Federal Financial Interventions and Subsidies in Energy report. 

Aug 03 - China's energy security push drives up fossil fuel approvals – research
China approved more than 50 gigawatts (GW) of new coal power in the first half of 2023, research by environment group Greenpeace showed, with the world's top carbon polluter focused on energy security rather than cutting fossil fuel consumption. As scientists and environmentalists urge governments to make deeper emission cuts after record-breaking heatwaves across the globe, the impact of extreme weather has spurred China to build even more coal-fired plants as it tries to counter the effects of drought on hydropower production and avoid power outages.

Aug 01 - US LNG feed gas at record high in first half as Freeport restarts
U.S. liquefied natural gas (LNG) export facilities brought in a record amount of natural gas in the first six months of this year after the Freeport LNG terminal returned to service, the U.S. Energy Information Administration (EIA) said on Monday. Natural gas delivered by pipeline to LNG export facilities, called LNG feed gas, averaged 12.8 billion cubic feet per day (bcfd) in the first half of 2023, 4% more than the same six-month period in 2022 and 8% higher than the full 2022 average. 

Aug 01 - Britain commits to hundreds of North Sea oil and gas licences
Britain on Monday committed to granting hundreds of licences for North Sea oil and gas extraction as part of efforts to become more energy independent, drawing criticism from environmental campaigners. Prime Minister Rishi Sunak confirmed plans for more than 100 such licences, which attracted bids earlier this year and said hundreds of future licenses could also be granted.

Jan 09 - Market Talk Roundup: Latest on Trump, U.S. Politics (WSJ DJ Reuters)

- U.S. oil prices hit their highest since 2015 again as speculators bet on further price rises amid OPEC-led production cuts and a dip in American drilling activity, though some warned the rally could run out of steam.
- Gold prices inched down amid expectations for more U.S. interest rate hikes this year.
- London copper inched up in early trade as an advancing U.S. dollar lost steam, while Shanghai copper recovered from a drop in the previous session to trade marginally higher.
- Chicago wheat fell for a fourth consecutive session with prices pressured by improved weather conditions in the U.S. southern Plains although a lack of protective snow cover kept a floor under the market.
- The yen jumped after the Bank of Japan trimmed its buying of long-dated Japanese government bonds in market operations, helping to stoke speculation about a future exit from its massive stimulus policy.   
- As a result of tax reform, Visa is improving 401(k) benefits for its U.S.-based employees, according to a company spokeswoman. Visa will increase its 401(k) match beginning in February. Currently Visa contributes $2 for every $1 an employee contributes, up to 3% of base pay. Visa will raise that to 5% of base pay. The company is also "exploring other global employee benefits and investments...which [it] hope[s] to unveil in the near future," says a spokeswoman.
- Former lawmakers urged President Donald Trump to preserve Nafta, citing withdrawal from the trade agreement as the fastest way to undermine any tax benefits or regulatory relief farmers might otherwise see from his administration. As Mr. Trump addressed farmers at an annual meeting in Tennessee, former Senators Max Baucus (D., Mont.) and Richard Lugar (R., Ind.), now co-chairs of a non-profit organization advocating for free trade for farmers, warned that withdrawing from Nafta would be akin to levying a new tax on farmers. They cautioned that U.S. farmers would suffer retaliatory action if the U.S. imposes tariffs on its trading
partners and said American growers already are disadvantaged since Trump pulled the U.S. from a key Pacific trade agreement.
- President Trump used a speech to farmers to highlight benefits of the GOP's tax overhaul, tout his deregulatory agenda and sign executive orders aimed at improving broadband access across rural America. Addressing farmers at an annual convention of the American Farm Bureau Federation, Trump called the recently-passed tax cut "historic relief for farmers," saying family farms would be spared from a "deeply unfair estate tax," and told a welcoming crowd that he was "putting an end to the regulatory assault on your way of life." Signing two orders to expand internet connectivity in rural areas, he said: "You are going to have great, great broadband."
- United Natural Foods CFO Mike Zechmeister says the tax policy changes are impacting how it assesses returns on potential investments. The natural foods distributor saw a four percentage point difference in returns on a recent investment before and after the tax bill, for example. "The tax savings are real," Zechmeister tells investors gathered at the annual ICR Conference. "You could take a project that may be unattractive in the past or one you would have passed on, and it becomes a project you could go forward with."
- US auto industry stands to benefit from the recently passed tax legislation, which will likely boost earnings per share by an average of 5%-6%, Barclays estimates. The tax reforms are expected to cut nominal tax rates for most US auto manufacturers and parts suppliers, even though the reduction in actual taxes paid will be "slightly less impacted" due to widespread use of losses carried forward, Barclays says. Auto parts suppliers domiciled overseas for tax purposes, such as Adient, Aptiv and Delphi Technologies, won't gain much from lower US corporate tax rates, but also may face lower risk from another part of the tax legislation--a hike in levies targeting unremitted foreign earnings, it says.
- United Natural Foods, up more than 5% as its CFO outlines "significant" financial benefits from the tax bill. The Providence-based natural food distributor expects the taxes it pays overall to fall to around 28% in its 2019 fiscal year from 40% currently. CFO Mike Zechmeister tells investors gathered at the annual ICR Conference that the reduced corporate tax will result in around $17M in savings during its current fiscal year, and it will also benefit from a one-time boost on deferred liabilities. The company expects an aggregate rate reduction of as much as 17 percentage points this year, and 13 percentage points in 2019. "That is a meaningful increase to our free cash flow," Zechmeister says.
- Changes to the US tax code could help push Caterpillar's stock price to $200 by the end of the year, JPMorgan analyst Ann Duignan says. The recently passed federal tax law's provision allowing 100% depreciation on new and used equipment will likely prolong the replacement cycle in US construction, she says. That's in addition to a lower corporate tax rate that will boost free cash flow. "As a result of our analysis, we believe that the stock remains undervalued, despite the significant outperformance last year," she said in a note. Caterpillar stock was up about 70% in 2017. Caterpillar shares were up 2.6% to $166.13.
- USDA Secretary Sonny Perdue touted accomplishments of the Trump administration and his own agency ahead of a planned presidential address to farmers at an annual trade convention. Perdue listed what he sees as trade victories, including opening China to American beef and rice, for farmers worried about the fate of Nafta. Speaking at a meeting of the American Farm Bureau Federation, he said USDA has begun rolling back burdensome regulations, targeting 27 rules that will save $56M annually, and urged farmers to flag the "silliest, most onerous rules" they think should be ditched. As for farmers' tax burden, Perdue tells the crowd that thanks to Trump's recent tax overhaul, "Help is not only on the way. It's already here."
- The parent of Alaska Airlines, like Southwest Airlines, American Airline and JetBlue Airways before it, said it plans to award $1,000 bonuses later this month to 23,000 employees, in celebration of the new federal tax bill. The corporate tax-cut windfall will reduce the tax rate to 21% from 35%, effective this year, which should save millions in tax liabilities and allow airlines to invest more in planes, products and their employees, although some of the savings may also go toward share buybacks. Alaska Air shares are down 1% to $72.97.
- Former Navy acquisition chief and acting Navy secretary Sean Stackley joins L3 Technologies, complementing the deal-hungry defense company's M&A team and continuing the run of Obama-era Pentagon officials who've popped up on corporate boards and management teams. Former defense secretary Ash Carter joined the Delta Air Lines' board while his deputy, Bob Work, is now a Raytheon director. Ex-Air Force secretary Deborah Lee James is now on the Textron board while Leidos added former Pentagon acquisition chief Frank Kendall to its director roster, with his deputy Katharina McFarland joining Engility.
- Eli Lilly (LLY) CEO David Ricks said the U.S. tax overhaul will cause American companies to make investments based more on business factors than taxes. "On the next decision you face it really re-balances the calculus on where to build a plant or make hires," he tells the WSJ on sidelines of JP Morgan healthcare conference in San Francisco. He expects Lilly to have "more infrastructure" in the US within the next 7 years as a result of the overhaul. In September the drug maker announced plans to cut 8% of its work force including many jobs in its home state of Indiana. Ricks also sees the mix of Lilly acquisition targets shifting to more US companies than foreign firms. Though Lilly already had a lower tax rate than the former top US corporate rate due to operations abroad, he sees Lilly's total tax bill coming down.
- J.P. Morgan says the introduction of the U.S. tax reform has done very little to lift the market's downbeat view of potential U.S. growth," which is expected to be smaller compared with other countries or areas around the world. This explains why the U.S. dollar hasn't benefited much from either the introduction of the tax reform or from good economic data, it says. "The global economic activity surprise index is at a post-GFC high," J.P. Morgan says, highlighting eurozone, as well as German growth, which for the first time ever "outpaced the U.S. for four consecutive years." J.P. Morgan adds: "This lack of economic exceptionalism ... is turning out to be more of a drag on the currency."