Carbon & Power Markets News

May 20 - EC hikes renewable hydrogen demand targets in REPowerEU package
Europe currently produces around 7 million mt/year of hydrogen, used largely in refining and fertilizer production.  

May 20 - G7 countries can lead world on industrial decarbonization: IEA
The G7 countries -- Canada, France, Germany, Italy, Japan, the UK, the US and the EU -- account for around 40% of the global economy, 30% of energy demand and 25% of energy system CO2 emissions, the IEA said.

May 20 - Europe rankles Gulf countries with energy transition push, while seeking oil, gas supplies
Gulf officials have taken exception to what they see as the cognitive dissonance of western finger-wagging on climate change while asking for more oil and gas supplies to tamp down surging prices and alleviate a supply squeeze exacerbated by US and EU sanctions on key producers, including Russia for its invasion of Ukraine.

May 20 - As deadlines loom, Russia says EU gas clients open payment accounts
Half of Russian gas giant Gazprom's 54 clients have opened accounts at Gazprombank, Russian Deputy Prime Minister Alexander Novak said on Thursday, as European companies approach imminent payment deadlines. Companies in the European Union have been trying to confirm for weeks how they can legally buy Russian gas, after Moscow demanded foreign buyers start paying in roubles and cut gas supplies to Bulgaria and Poland last month after they refused to do so.

May 20 - EU strikes deal on emergency rules to fill gas storage
Negotiators from European Union countries and lawmakers on Thursday clinched a deal on a law to fill Europe's gas storage ahead of winter, as they attempt to build a supply buffer and prepare for possible disruptions to Russian flows. Russia supplies 40% of EU gas and last month cut supply to Poland and Bulgaria after they refused to pay for the fuel in roubles. Gas powers factories, heats homes and produces electricity across Europe, and countries are racing to fill storage to protect against potential supply shocks.

May 19 - Panama planning large biofuel refinery in partnership with SGP BioEnergy
The government of Panama on May 18 said it plans to develop the largest biofuels production and distribution hub in the world in partnership with private companies including, SGP BioEnergy, a US-based integrated bioenergy products development company.  

May 19 - Singapore's EPS plans carbon capture systems for two MR tankers
The 2020-built, 49,700 DWT sister vessels, will be fitted with VM's Filtree System - a prefabricated gas cleaning system that filters sulfur and 99% of particulate matter

May 19 - Australia's gas producers cash in on global energy security fears
Gas producers in Australia are dusting off plans for new projects as Asian customers fret over energy security following Russia's invasion of Ukraine and seek gas with lower carbon credentials. With sanctions on Moscow stalling Russian liquefied natural gas (LNG) export projects, notably Arctic LNG 1 and 2, and boosting prices, exporters in Australia see an opportunity to beef up their position as suppliers of choice.

May 19 - Russia could cut off gas to Finland this week, energy provider says
Russia could cut off gas supplies to Finland this week, Finland's state-owned energy provider Gasum said on Wednesday, in a row over Moscow's demand for countries to pay for gas in roubles and as Helsinki seeks NATO membership. In a statement, Gasum said it had not received any information about the matter from Russia's Gazprom Export or from the Russian transmission operator, but that it was preparing for a scenario where Moscow cuts off gas late on Friday or on Saturday.

May 18 - Australia's gas producers eye profits from carbon capture
Australian oil and gas producers are eyeing future profits from carbon capture and storage (CCS) as the industry globally races to meet net zero emissions targets, even as the world's largest CCS project, in Australia, struggles to hit capacity. Chevron Corp's A$3 billion ($2 billion) facility linked to the Gorgon liquefied natural gas (LNG) off Western Australia has so far failed to meet its target, still burying only half as much carbon dioxide (CO2) as expected three years after its startup.

May 18 - Europe fills gas storage at record rate as Asia's buyers step aside: Kemp
Europe's gas inventories are rebuilding after winter at the fastest rate on record as the region's buyers outbid competitors from Asia to acquire as much gas as possible at any price. Stocks in the European Union and United Kingdom (EU28) have risen by 151 terawatt-hours (TWh) since the start of April and 159 TWh from their post-winter low on March 19.

May 18  - Biofuels consumption set to surge in Europe
Consumption of biofuels in the EU among three key sectors -- road, marine and aviation -- is set to surge further with major industry players advocating for long-term mandates and more ambitious targets in a bid to secure investment in infrastructure as well as energy independence.

May 18  - World leaders have not done enough to deliver on COP26 commitments:
UK's Sharma
He called for concrete action to accelerate progress in low-carbon steel and hydrogen, as well as for progress in exiting fossil fuels.

May 18  - Hydrogen cluster to be set up in Germany's Ingolstadt area
A consortium is planning to set up a hydrogen infrastructure under a project dubbed HyPipe Bavaria / H2-Cluster Ingolstadt, which will supply the participating industrial sites and the region with hydrogen.

May 17 - EU clarifies how companies can legally pay for Russian gas
The European Commission has confirmed how European Union companies can pay for Russian gas without breaching the bloc's sanctions against Russia, in updated guidance on the issue seen by Reuters. The Commission told countries last month that European companies may be able to pay for Russian gas without breaching EU sanctions against Moscow, but only if they followed certain conditions, after Russia demanded foreign buyers start paying for gas in roubles or risk losing their supply.

May 17 - UK's energy regulator proposes quarterly price cap reviews
Britain's energy regulator Ofgem said on Monday it plans to review a price cap on consumer bills every quarter rather than twice a year to reflect the volatile price swings in the market and help prevent more suppliers from going bust. More than 25 suppliers collapsed last year squeezed by record high wholesale energy prices and with the cap preventing them from passing on costs to customers.

May 17 - EU Council approves final regulation on priority EU energy projects
It was agreed to end support for new fossil gas and oil projects, but to allow a transitional period to the end of 2029 for funding of gas projects that would be converted to hydrogen.  

May 17 - Japan H2 Mobility to install five hydrogen stations in FY 2022-23
JHyM has secured government subsidies for installing the five hydrogen refueling stations for the fiscal year to March 31, 2023.

May 17  - Poland signs up for US LNG supply to new floating terminal (petroleum Economist)
- State-controlled PGNIG inks HOA with US firm Sempra.
- Plans for both floating storage and regasification units (FSRUs), which can boost Europe’s LNG import capabilities in the short term, and investment in new and upgraded onshore facilities, which would help in the medium-to-long term, are not difficult to find since Russia invaded Ukraine. But the extent of individual countries’ ambitions—in terms of ensuring such infrastructure makes a guaranteed contribution to increased security of gas supply—varies.  
- Poland is more proactive than most. This is unsurprising given its uneasy relationship with eastern neighbours Russia and its ally Belarus.

May 16 - EU Commission stands by its guidance on payments for Russian gas
The European Commission stands by its previous guidance on how EU companies can pay for Russian gas without breaking sanctions on Russia and is in contact with EU governments to provide more explanations if needed, a Commission spokesman said on Friday. The Commission said at the start of May that it would update its previous guidance on payment for Russian gas purchases as several EU governments and large importers said they were not sure if they could be seen as breaking the sanctions regime.

May 16 - Spain, Portugal cap gas price for power plants to lower cost for users
Spain and Portugal on Friday announced a temporary cap on the benchmark price of gas used by power plants to generate electricity, a move the Spanish energy minister said would immediately reduce costs for more than a third of households and 70% of industry. European countries are struggling to manage surging gas and power prices, pushed higher by Russia's invasion of Ukraine, and to mitigate their impact on consumers' spending power.

May 13 - Methanol bunkering to jump on shipping's decarbonization thrust: Methanol Institute COO
Russia's invasion of Ukraine has highlighted the need for an orderly energy transition pathway.

May 13 - Creaky U.S. power grid threatens progress on renewables, EVs
After decades of struggle, the U.S. clean-energy business is booming, with soaring electric-car sales and fast growth in wind and solar power. That’s raising hopes for the fight against climate change. All this progress, however, could be derailed without a massive overhaul of America’s antiquated electric infrastructure – a task some industry experts say requires more than $2 trillion. The current network of transmission wires, substations and transformers is decaying with age and underinvestment, a condition highlighted by catastrophic failures during increasingly frequent and severe weather events.

May 13 - EU readies 195 billion euro plan to quit Russian fossil fuels
The European Commission plans to unveil a 195 billion euro plan to stop importing Russian fossil fuels by 2027, combining a faster rollout of renewable energy and energy savings with a switch to alternative gas supplies, draft documents show. The draft measures, which could change before they are due to be published next week, include a mix of EU laws, non-binding schemes, and recommendations national governments could take up, including by revising their plans to spend the EU's huge COVID-19 recovery fund to free up more funding for the energy transition.

May 12 - IEA expects record renewable growth despite cost, supply problems
Rising concerns over energy security and climate change will galvanize record new capacity to generate renewable power in 2022, the International Energy Agency forecast on Wednesday. The IEA forecasts that 320 gigawatts will come online this year, equivalent to top European economy Germany's total annual demand, up from a previous record of 295 gigawatts in 2021.

May 12 - Equinor AGM rejects activist calls for emission cuts
Equinor shareholders approved the oil and gas company's energy transition plan on Wednesday while rejecting proposals from campaigners to strengthen climate ambitions by also setting targets for tougher emission cuts. The call for absolute reduction of so-called Scope 3 emissions, which account for the majority of total lifecyle emissions from oil and gas, has become a new battleground between activists and the petroleum industry.

May 11 - Indian Railways missed Coal India train provision targets for over a year- data shows
Indian Railways supply of trains to Coal India for transporting coal has fallen short of its monthly targets for more than a year, government data showed, highlighting the problems behind India's worst power crisis in over six years. Indian utilities are scrambling to get hold of coal supplies to cope with record high power demand, but Indian Railways' inability to supply enough trains makes it difficult to boost coal stocks, which are at their lowest levels in years.

May 11 - Solar rooftops, manufacturing to get boost under draft EU plan
The European Commission hopes to jumpstart a large-scale rollout of solar energy and rebuild Europe's solar manufacturing industry, as part of its bid to wean countries off Russian fossil fuels, a draft document seen by Reuters showed. "Solar electricity and heat are key for phasing out EU's dependence on Russian natural gas," the Commission said in the draft, due to be published next week in a package of proposals to end the European Union's reliance on Russian oil and gas.

May 11  - India March LPG imports rise 15% on month to 1.45 mil mt
Imports in Q1 2022 averaged 1.365 million mt, down 3.81% from 1.419 million mt in Q1 last year, the data showed, as importers faced higher international prices driven by stronger crude futures.

May 11  - Japan mulls using public finance for US LNG expansion:
minister
Japan intends to contribute to starting up these US projects with public financial support and proceed to cooperate with the US in order to stabilize global LNG supply, he said.

May 11  - Dutch Gasunie to deploy second floating LNG import vessel at Eemshaven

Dutch gas infrastructure operator Gasunie has agreed to deploy a second floating LNG import facility at the port of Eemshaven in the north of the Netherlands, with the vessel set to arrive in the third quarter of 2022, it said May 10.

May 11  - MOL to build four more LNG-fueled car carriers, undertake other green shipping initiatives
MOL in 2021 signed an agreement to construct LPG-fueled very large gas carriers to transport LPG and ammonia. The company in February completed a concept study on an ammonia floating storage and regasification unit and embarked on the development of alternative fuels.

May 10 - EU plans one-year renewable energy permits for faster green shift
The European Union executive wants to speed up the bloc's green transition and cut its reliance on Russian fuels by allowing some renewable energy projects to receive permits within a year, a draft document shows. Brussels will next week unveil a package of measures to end the European Union's reliance on Russia, by boosting renewable energy, saving energy and increasing gas imports from elsewhere.

May 10 - Verbund buys portfolio of Spanish renewable assets
Austrian hydropower utility Verbund said on Monday it had acquired a portfolio of renewable energy assets in Spain from local private equity fund Q-Energy for an undisclosed sum. The assets include operating photovoltaic power plants with a combined capacity of 82 megawatts (MW) and projects planned to have an eventual capacity of up to 4,000 MW, the company said. All are located in Castille La Mancha in central Spain and sunny Andalusia in the south.

May 09  - FERC extends construction deadlines for two US LNG projects despite protests
Applicants also cite pandemic-related disruptions to global LNG market as source of delay.

May 09  - China April coal imports soar, driven by panic orders in early March
China's coal imports surged 43% in April from March, driven by panic buying over concerns of supply disruptions stemming from Russia's invasion of Ukraine. China shipped in 23.55 million tonnes of coal last month, data from the General Administration of Customs showed on Monday. That compares with 16.42 million tonnes in March and 21.73 million tonnes in April 2021.

May 09  - 'Bad boys' are back: India doubles down on coal as heatwave worsens power crisis

India is planning to reopen more than 100 coal mines previously considered financially unsustainable, as a heatwave-driven power crisis forces the world's third-biggest greenhouse gas emitter to double down on the fuel after months of low consumption. State-run Coal India, which accounts for 80% of domestic coal output, saw production fall for two straight years ended March 2021 mainly due to a lack of demand during the COVID-19 pandemic. India also pushed utilities to cut imports of coal used for power generation to zero during that period.

 May 07  - European energy crisis a 'stark reminder' of vital LNG role: GIIGNL

May 06 - Wrangle over EU carbon market revamp threatens climate targets
Officials and lawmakers negotiating an overhaul of the EU carbon market are struggling to reach a compromise over plans to levy CO2 costs on suppliers of polluting fuels, potentially putting the bloc's climate change targets at risk. Launched in 2005, the emissions trading system (ETS) is the European Union's main tool for cutting greenhouse gases, which it does by forcing power plants and factories to buy CO2 permits when they pollute and capping the supply of permits.

May 06 - Wind turbine makers struggle to find pricing power
Wind turbine makers racked up hefty losses last quarter, swelled by rocketing costs and cut-throat competition despite being more in demand than ever. The industry started seeing a steep decline in prices and increased competition back in 2017 as some governments moved away from generous, fixed, subsidised tariffs for power toward an auction-based system that favours the lowest bidders.

May 05 - Solarwatt in tie-up to boost household energy self-sufficiency
Germany's Solarwatt has entered a partnership with home technology and heating specialist Stiebel Eltron to help households escape dependence on fossil fuels, the solar company said on Wednesday. Owners of rooftop photovoltaic (PV) systems can save money and carbon emissions if they store unused electricity in batteries to be used later around the house, to charge electric vehicles or feed electric heat pumps.

May 05 - Germany's Amprion says there is resolve to speed power grid expansion
German power grid firm Amprion on Wednesday set out completion times for planned network expansion projects, saying resolve to cut planning and construction times will ensure the timely transport of more renewable electricity to consumers. Amprion, 25%-owned by utility RWE and one of four high-voltage power grids, said milestone projects to bring power from the windy north to the industrial south and west are being sped up by a climate protection agenda and more acceptance by citizens.

May 04 - Former policy chiefs warn EU over hunt for non-Russian fossil fuels
The European Union must avoid locking itself into years of dependence on fossil fuels as it races to replace Russian oil and gas with supplies from other countries, 11 former EU policy chiefs have said in a letter to the bloc's current leadership. The European Commission will this month unveil plans to end Europe's reliance on Russian energy, which are expected to expand renewable energy faster while encouraging the urgent replacement of Russian gas with alternative supplies.

May 04 - India sets end-June coal import targets as power woes mount
India has asked state and private sector utilities to ensure delivery of 19 million tonnes of coal from overseas by end-June, according to a power ministry letter, reflecting an urgency to secure supplies in a pricey market amid increasing blackouts. The move, which marks the first time the world's second largest coal importer is issuing timelines for imports, can put pressure on the global prices of coal as the utilities rush to avoid a repeat of the electricity crisis in April.

May 03 - Finnish group ditches Russian-built nuclear plant plan
Finnish-led consortium Fennovoima said on Monday it had scrapped a contract for Russia's state-owned Rosatom to build a nuclear power plant in Finland, citing delays and increased risks due to the war in Ukraine. The announcement ended months of uncertainty and years of political wrangling over the planned Hanhikivi 1 plant, a project that would have increased Finland's dependency on Russia for its energy.

May 03 - Italy readies $7 bln package to curb energy prices, help firms
Italy is set to unveil a new stimulus package on Monday worth up to 7 billion euros ($7.35 billion) to curb surging energy prices and help companies cope with the economic impact of the war in Ukraine, unions said after a meeting with the government. The new stimulus comes on top of around 15 billion euros already budgeted since January to help firms and households with electricity, gas and petrol prices.

May 02 - EU energy ministers hold crisis talks after Russian gas cuts
Energy ministers from European Union countries hold emergency talks on Monday, as the bloc strives for a united response to Moscow's demand that European buyers pay for Russian gas in roubles or face their supply being cut off. Russia halted gas supplies to Bulgaria and Poland last week after they refused to meet its demand to effectively pay in roubles.

May 02 - Power-hungry India halts passenger trains to free up track to move coal
India has boosted the output of coal and cancelled passenger trains to free up rail track to move it, officials said on Friday, as the government scrambles to overcome its worst power crisis in years. State-run Coal India, which accounts for 80% of India's coal output, increased production by 27.2% in April, the federal coal ministry said.

Apr 29  - Europe's electricity market not in need of redesign, regulators say
Europe's electricity market does not need a radical redesign, but policymakers should consider more measures to support the shift to low-carbon energy and protect consumers from high costs, EU energy market regulators said on Friday. European energy prices hit record highs this year after the invasion of Ukraine by Russia, Europe's top gas supplier.

Apr 29  - Russia's Gazprom lands record high profit of $29 bln in 2021

Russia's Gazprom on Thursday forecast a fall in gas output of about 4% this year, in another sign of the impact of Western sanctions against Moscow, after the oil and gas giant reported record earnings for last year. Gazprom said in a statement that its net profit hit 2.09 trillion roubles ($29 billion) in 2021, up from 135 billion roubles in the pandemic-stricken 2020 financial year, thanks to rising oil and gas prices.

Apr 28 - Countries ask EU for clearer advice on Russian gas payments
European Union countries have asked Brussels to provide fresh advice on whether they can keep paying for Russian gas without breaching EU sanctions, amid different views among countries on how to interpret its initial guidance, EU diplomats said. Russia halted gas supplies to Bulgaria and Poland on Wednesday for rejecting its demand that European buyers start paying for Russian gas in roubles.

Apr 28 - India tells its states to step up coal imports for three years - sources
India has urged its states to step up coal imports for the next three years to build up inventories and satisfy demand, four sources told Reuters, a move set to benefit global prices of the fuel, already running high because of war in Ukraine. The decision to boost imports underscores the severity of India's fuel crisis as coal inventories are at the lowest pre-summer levels in at least nine years and electricity demand is seen rising at the fastest pace in nearly four decades.

Apr 27 - Japan calls for balanced energy transition approach amid change from Russia's invasion: minister
Japan is calling for a balanced approach to the energy transition amid rapidly changing situations in the global energy landscape following Russia's invasion of Ukraine, Minister of Economy, Trade and Industry Koichi Hagiuda said April 25. 

Apr 27 - Russia's Gazprom halts gas supplies to Poland and Bulgaria
Russian energy giant Gazprom on Wednesday halted gas supplies to Bulgaria and Poland because they had failed to pay in roubles. Poland and Bulgaria are the first countries to have their gas cut off by Europe's main supplier since Moscow started what it calls a special military operation in Ukraine on Feb. 24.

Apr 27 - EU agrees to let Spain, Portugal cap cost of gas for power
The European Commission has agreed to allow Spain and Portugal to place a temporary cap on reference prices for natural gas and coal used by power plants of 40 euros per megawatt-hour, their ministries in charge of energy and the environment said on Tuesday. European countries are struggling to manage surging gas and power prices, pushed higher by Russia's invasion of Ukraine, and to cushion their effect on voters' spending power.

Apr 26 - Singapore MPA revises Green Ship Program to promote decarbonization
The GSP, one of the four programs under the Maritime Singapore Green Initiative, aims to reward shipowners who voluntarily adopt solutions that enable ships to exceed environmental regulatory standards set by the IMO.

Apr 26 - EU countries mull deal on emergency rules to fill gas storage
European Union countries will this week debate a possible deal to share out the costs of buying gas to fill storage and build a supply buffer ahead of next winter, according to a draft document seen by Reuters. EU countries are negotiating proposed rules that would require them to fill their gas storage to at least 90% of capacity by Nov. 1 each year from 2023 and 80% this year - an attempt to reduce the leverage of Russia, which supplies around 40% of EU gas.

Apr 26 - Global coal plant capacity edges up in 2021, hitting climate - report
The global capacity of power plants fired by coal, the fossil fuel that emits the most carbon dioxide when burned, rose nearly 1% last year as the world recovered from the COVID-19 pandemic, according to a research report by a U.S. environmental group. The Global Energy Monitor (GEM) report found that global coal plant capacity grew 18.2 gigawatts to about 2,100 GW or about 0.87%.

Apr 25  - EU says pay for Russian gas in euros to avoid breaching sanctions
EU companies may be able to work around Russia's demand to receive gas payments in roubles without breaching sanctions if they pay in euros or dollars which are then converted into the Russian currency, the European Commission said on Friday. The companies would also need to seek additional conditions on the transactions, such as a statement that they consider their contractual obligations complete once they have deposited the non-Russian currencies.

Apr 25  - Gazprom may lose a third of its gas exports to Europe in 2022 – analysts
Kremlin-controlled Gazprom's gas exports to Europe could fall by around a third this year due to the crisis in Ukraine, rivalry with liquefied natural gas, and plans to switch to rouble payments, analysts said on Friday. Russia accounts for around 40% of European gas supply, but the West has been trying to wean itself off Russian energy flows with increasing urgency since the country began what it calls its "special military operation" in Ukraine on Feb. 24.

Apr 22 - On Earth Day, climate activists set to rally against fossil fuels
Climate change campaigners planned a wave of protests for Earth Day on Friday, pushing demands such as an immediate halt to European imports of Russian oil and gas and an end to building fossil fuel infrastructure. In Europe, activists in Berlin, Warsaw, Brussels and elsewhere were set for rallies outside German government or embassy buildings, where they will hand out red-stained roubles to symbolize blood covering a currency they say is fuelling both climate change and Russia's invasion of Ukraine.

Apr 22 - Global energy crisis, Russia invasion eclipse Biden climate goals
As a candidate, Joe Biden made climate change a pillar of his campaign for the White House, promising to decarbonize the U.S. economy, end drilling on public lands, and lead the world in a historic shift away from fossil fuels. But more than a year into his presidency, Biden has instead been forced by rampant inflation and a war in Europe to prioritize energy security, leading his administration to unleash record amounts of crude oil from strategic reserves and to urge drillers to pump harder to keep up with demand.

Apr 21 - BIMCO endorses net zero carbon goal by 2050, updates GHG position statement
As the regulatory landscape continues to change, BIMCO supports the Initial Strategy of the International Maritime Organization, and its vision and objectives, but believes more ambition is needed, it said in a statement on April 20.

Apr 21 - COLUMN-India's coal imports are shifting, thermal more than coking: Russell
India's coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia's invasion of neighbouring Ukraine. India, the world's second-biggest coal importer behind China, has long been viewed as a price-sensitive buyer of the polluting fuel, and given the surge in prices after Russia's Feb. 24 attack on Ukraine, it was always likely that trade flows would be affected.

Apr 21 - European Commission analysing higher 45% renewable energy target for 2030
The European Commission is assessing whether the European Union could achieve a higher target of a 45% share of renewable energy by 2030, instead of its proposed 40%, to accelerate its shift from Russian fossil fuels following the invasion of Ukraine. "We are working on it full speed to take account, first of all the proposal of going from 40% to 45%, but also in the context of higher energy prices," Mechthild Woersdoerfer, deputy director-general of the Commission's energy department, told a meeting of EU lawmakers on Wednesday.

Apr 20 - China's March coal imports from Russia plunge 30% on year
China's coal imports from Russia in March fell 30% from a year earlier, as fears of sanctions impeded purchases and China generally bought less foreign coal. China, the world's biggest coal consumer, brought in a total of 3.12 million tonnes of the fuel from Russia last month, data from the General Administration of Customs showed on Wednesday.

Apr 20 - Denmark to boost green energy, North Sea gas production to quit Russian supply
Denmark's government on Tuesday said it aimed to significantly boost renewable energy supply and temporarily increase production of natural gas from its fields in the North Sea, in a move to rapidly become independent of Russian supplies. "We will increase production of natural gas in the North Sea for a limited time period," Prime Minister Mette Frederiksen told reporters during a briefing on Tuesday.

Apr 19 - U.S. banks' commodity trading exposures rise on Russia conflict
Wall Street banks' commodities trading exposures are rising, which could leave them vulnerable to large swings in asset values following Russia's invasion of Ukraine, first quarter earnings disclosures showed. Goldman Sachs Group Inc and JPMorgan Chase & Co both reported an uptick in a commodities trading risk measure, with Goldman's now the highest in a decade, according to a Reuters review of bank filings.

Apr 19 - National Grid announces plan to decarbonize by 2050
Utility giant National Grid is planning to eliminate fossil fuels from its heating systems in New York state and Massachusetts by 2050, primarily by expanding the use of electric heat pumps and sourcing more renewable natural gas (RNG), the company said Monday. National Grid plans to have New York and Massachusetts using 100% fossil-free gas by 2050, relying on a significant increase in use of RNG produced from farms, landfills, wastewater facilities and imports instead of conventional natural gas.

Apr 18  - Britain will have enough gas this summer, National Grid says
Britain will have enough gas supply to meet demand from April to September, and will even ship more gas to Europe due to low storage levels there, National Grid said in its annual summer outlook on Thursday. Total UK gas demand is forecast at 34 billion cubic metres (bcm) in the six months over the summer versus 31.9 bcm in the same period of last year.

Apr 18  - Eyeing green vote, Macron vows to exit oil, coal and gas
President Emmanuel Macron promised on Saturday to make France the "first great nation" to stop using oil, coal and gas as energy sources, in a pitch to young and green voters he fears could abstain in next week's election runoff. In a rally in the Mediterranean city of Marseille, which voted massively for left-wing firebrand Jean-Luc Melenchon in the first round of voting, Macron sought to widen what opinion polls show as a small lead over his far-right rival Marine Le Pen.

Apr 14 - Refinery Plants drop conventional upgrades, focus on renewables
Cepsa has dropped its long awaited project for the Algeciras refinery, which included the construction of a new hydrocracker and will instead concentrate on increased hydrogen and biofuel investment. 

Apr 14 - EEX bourse set for more growth in 2022 after power, gas volumes rise
Volumes of EEX's flagship power and gas futures products rose sharply in the first quarter of 2022, the European Energy Exchange said on Wednesday, as operators hedged their positions amid a surge in market volatility due to the Ukraine crisis.  EEX chief Peter Reitz noted Russia's invasion of Ukraine had raised concerns about European energy security and drove operators to the exchange, as they sought to move away from uncleared over-the-counter markets to reduce counterparty risks and save money.

Apr 14 - India allows state utilities to sell 25% allocated coal to other producers
India has allowed some state utilities to sell up to 25% of the coal allocated to them to other producers and urged states to import coal for blending with local grades to avert power cuts this year, a government statement said on Wednesday. India is likely to face more power cuts this year as utilities' coal inventories are at the lowest pre-summer levels in at least nine years and electricity demand is expected to rise at the fastest pace in at least 38 years, officials and analysts say.

Apr 13 - Global renewable power prices soar on heavy demand, chaotic supply chain
Prices for wind and solar power in major global markets have climbed nearly 30% in a year as developers have struggled with chaotic supply chains and surging costs for everything from shipping to parts to labor, according to a report published on Wednesday. Contract prices for renewables jumped 28.5% in North America and 27.5% in Europe in the last year, according to a quarterly index by LevelTen Energy that tracks the deals, known in the industry as power purchase agreements (PPAs).

Apr 13 - China's March coal imports rebound from 2-yr low, high maritime prices weigh
China's coal imports rebounded in March from a two-year low in February, but were still 40% lower than the corresponding period last year, as buyers shied away from expensive imports and turned to price-capped domestic supply. The world's biggest coal consumer, China brought in 16.42 million tonnes of coal last month, data from the General Administration of Customs showed on Wednesday.

Apr 13  - Japan sees unprecedented power fuels procurement risks in FY 2022-23: METI
Japan's move to phase out Russian coal imports will have an impact on LNG procurement by local power utilities, with some companies already moving to secure fuel oil as they start phasing out coal imports from Russia, according to sources familiar with the matter.

Apr 13  - QatarEnergy signs Mitsui O.S.K. Lines for operation of four LNG ships
Qatar is on track to expand its LNG production capacity from 77 million mt/year (106 Bcm/year) currently to 126 million mt/year by 2027.

Apr 12 - German firm builds floating solar plant on quarry lake
A German company will next month switch on a floating solar power plant it has built on a quarry lake, a rapidly-installed, renewable technology it says could help wean the country off Russian fossil fuels.  BayWa r.e. said on Monday the photovoltaic (PV) plant at the family-owned Quartzwerke in the western German town of Haltern am See will be able to provide 3 megawatts (MW) of power, equivalent to a typical onshore wind turbine.

Apr 12 - Argentine energy company Genneia says it will invest $200 mln in renewable energy parks
Argentine thermal and renewable energy producer Genneia SA said on Monday it will invest $200 million in Argentine renewable energy parks over the next two years, at a time when the country is going through a severe energy deficit that affects its fiscal balance. "Tocota III" solar park, located in the province of San Juan, will have 60 megawatts of installed capacity, while the "La Elbita" wind farm to be located in the province of Buenos Aires, is expected to have 103.5 megawatts of installed capacity.

Apr 11 - EU could revisit renewable targets in push to quit Russian energy - Timmermans
The European Union may set more ambitious targets for its transition to renewable energy as it seeks alternatives to imports of oil and gas from Russia, EU climate policy chief Frans Timmermans said on Sunday. The EU's 27 member states have agreed to collectively reduce their net greenhouse gas emissions by 55% from 1990 levels by 2030, a step towards "net zero" emissions by 2050.

Apr 11 - China coal importers to cut purchases amid record domestic output
China, the world's top coal importer, may cut imports by up to 30% this year as domestic output holds at record levels and strong demand for non-Russian supplies keeps import prices above those in the local market, industry sources said. The drop in China's coal imports may help cap global prices that are expected to surge as buyers in Europe and North Asia try to replace lost Russian shipments.

Apr 8 - Price volatility and rising demand revive U.S. natural gas trading
Natural gas trading is seeing a renaissance in the United States with the return of price volatility, while market turmoil in Europe could keep gas demand and exports high for years, according to trading industry executives. Sharp natural gas price swings that can bring huge profits to traders have resurfaced due to severe weather events and the European Union's search for alternatives to Russian gas imports.

Apr 8 - European, Asian coal users scramble for new sources ahead of EU Russia ban
European and Asian coal importers are expected to join the scramble for alternative sources of the fuel as a European Union ban on Russian coal imports looms, analysts and company officials said. But with top exporters Australia and Indonesia having already hit production limits and major producer South Africa constrained by logistical problems, some importers may struggle to maintain supply levels.

Apr 7 - Breaking ranks with EU, Hungary says ready to pay for Russian gas in roubles
Hungary said on Wednesday it was prepared to pay roubles for Russian gas, breaking ranks with the European Union which has sought a united front in opposing Moscow's demand for payment in the currency. Hungary will pay for shipments in roubles if Russia asks it to, Prime Minister Viktor Orban told a news conference on Wednesday in reply to a Reuters question.

Apr 7 - Britain plans nuclear power, offshore wind to boost energy independence
Britain will set out a plan to expand nuclear and offshore wind power on Thursday in a drive to bolster its energy independence at a time of surging prices and Russia's invasion of Ukraine. It will increase wind, nuclear and solar generation, whilst supporting production of domestic oil and gas in the near term, the government said, adding that 95% of electricity by 2030 could be low-carbon.

Apr 6 - Germany to present renewable energy expansion measures
Germany's economy and climate ministry will present a package of measures on Wednesday to speed up the expansion of renewable energy as the need to reduce the country's heavy reliance on Russian fossil fuels adds urgency to its green transition plans. The three parties that make up Germany's government - the Social Democrats, environmentalist Greens and pro-market Free Liberals - outlined their broad goals for expanding renewable energy in the coalition contract they signed last November.

Apr 6 - UK urges G7 to ban Russian ships and set timetable for oil and gas exit
Britain urged G7 and NATO nations on Tuesday to ban Russian ships from their ports, agree a timetable to phase out oil and gas imports from Russia, and further tighten sanctions on banks and key industries. Speaking in Poland ahead of a meeting of NATO and G7 countries later this week, British Foreign Secretary Liz Truss said: "On Thursday, I will be urging our NATO and G7 partners to go further in sanctions by joining us in banning Russian ships from our ports, cracking down on more Russian banks, going after industries that are filling Putin’s war chest like gold, and agreeing a clear timetable to eliminate imports of Russian oil, coal and gas."

Apr 06  - Germany's Gazprom move offers only temporary respite
Berlin acts to prevent Gazprom Germania ownership from transferring to shadowy Russian firms

- Germany’s Federal Ministry for Economic Affairs and Climate Action (BMWK) has temporarily appointed the country’s energy regulator, the Bundesnetzagentur (BNetzA), as fiduciary to act on behalf of Gazprom Germania, the subsidiary of Russia’s Gazprom that controls the company’s European gas trading, storage, pipeline and wholesale and retail sales arms, as well as its global LNG and oil trading and shipping businesses. The BMWK cites its operation of “critical infrastructure in Germany” and resultant “outstanding importance” in the country’s gas supply as justification for the move.
- The ministry is also concerned by “unclear legal relationships” and “violation” of legal reporting obligations, after Gazprom attempted to transfer ownership of the unit to the previously unknown Palmary and Gazprom export business services firms. “It is not clear who is behind [the two firms] in commercial and legal terms,” BMWK says.
“As Gazprom Germania operates critical infrastructure, any acquisition by a non-EU investor must be approved by the ministry,” it continues. “In addition, the acquiring party has ordered the liquidation of Gazprom Germania, which, as long as the acquisition is not approved, is not in conformity with the law.
“The federal government is doing what is necessary to uphold security of supply in Germany” Habeck, German economy minister
“The BMWK has not granted permission for the acquisition. Thus, any legal act connected with this, and also the acquisition as such, is provisionally invalid. Palmary is thus not the new indirect owner of Gazprom Germania,” it concludes.

- The European gas, power and carbon markets, as well as LNG and oil traders, can breathe at least a temporary sigh of relief at the greater certainty over Gazprom Germania’s status. It is the holding company for Gazprom Marketing & Trading (GM&T), which is a major player in European energy markets, as well as having significant footprints in LNG, in particular, but also in liquids markets. Its liquidation could have caused widespread disruption in those markets. GM&T is the owner of the Gazprom Retail business, which has a material share of the UK’s industrial and commercial gas and power market. The UK government should therefore be grateful to its German counterpart for at least temporarily alleviating the threat of the disorderly exit of another large player from its supply markets, after a spate of bankruptcies due to lack of risk management of persistently high wholesale prices.

Apr 5 - Russia maintains gas deliveries as Europe mulls tighter sanctions
Russia maintained gas flows through key pipeline routes into Europe on Monday, despite uncertainty over payment terms and as the EU said it would "significantly tighten" further sanctions against Moscow amid allegations of war crimes in Ukraine. Physical gas flows through the Yamal-Europe pipeline, at Germany's Mallnow border point see-sawed over the weekend and last stood at zero, data from operator Gascade showed.

Apr 5 - Global wind power must gather speed to meet climate goals, report finds
Pandemic-related supply chain problems slowed the rollout of new wind power in 2021, as the sector lags far behind the capacity needed to curb greenhouse gas emissions and meet net zero emission targets, an industry report said on Monday. The Global Wind Energy Council (GWEC) report comes ahead of a U.N. report to be published later on Monday that is expected to tell policymakers a huge ramp up in low carbon technology, such as renewable power, is needed if goals set under the 2015 Paris climate agreement are to be met.

Apr 04  - In Russia-Europe gas standoff, both sides lose
Europe and Russia will both lose heavily if President Vladimir Putin follows through on his threat to cut gas supplies to countries he judges "unfriendly" unless they pay in roubles. Even at the height of the Cold War, Moscow never cut gas to Europe, but on Thursday, Putin signed a decree ordering foreign buyers to pay in roubles instead of euros from April 1 or face going without Russian supplies.

Apr 04  - EU carbon market emissions rose 8.1% in 2021 as economies rebounded
Emissions regulated under Europe's carbon market rose by 8.1% last year excluding aviation, as economic activity rebounded following the coronavirus pandemic, preliminary European Commission data examined by carbon analysts at Refinitiv showed on Friday. Around 45% of the European Union's output of greenhouse gases is regulated by the EU Emissions Trading System (ETS), which is the 27-nation bloc's flagship scheme to tackle global warming by charging for the right to emit carbon dioxide (CO2).

Apr 01 - Putin tells Europe: Pay in roubles or we'll cut off your gas
Russian President Vladimir Putin is demanding foreign buyers pay for Russian gas in roubles from Friday or else have their supplies cut, a move European capitals rejected and which Germany said amounted to "blackmail". Putin's decree on Thursday leaves Europe facing the prospect of losing more than a third of its gas supply. Germany, the most heavily reliant on Russia, has already activated an emergency plan that could lead to rationing in Europe's biggest economy.

Apr 01 - Japan's JERA sets up Singapore unit to modernise terms for LNG contracts
JERA, Japan's biggest buyer of liquefied natural gas (LNG), said on Friday it has set up a subsidiary in Singapore to negotiate more flexible long term contracts with LNG suppliers, which will enable it to divert more cargoes swiftly to the spot market. Japan's biggest power generator has around 30 long-term contracts for LNG, with a total volume of about 25 million tonnes a year, according to a JERA spokesperson, although total trading volume is about 40 million tonnes.

Mar 31  - Germany girds for gas rationing, Europe on edge in Russian standoff
Germany triggered an emergency plan to manage gas supplies on Wednesday under which Europe's largest economy could ration power if a standoff over a Russian demand to pay for fuel with roubles disrupts or halts supplies. Moscow's insistence on rouble payments for the Russian gas that meets a third of Europe's annual energy needs has galvanised others in Europe: Greece called an emergency meeting of suppliers, the Dutch government said it would urge consumers to use less gas and the French energy regulator told consumers not to panic.

Mar 31  - Biden admin seeks to cut home energy bills with $3.2 bln for efficiency
The Biden administration will make available nearly $3.2 billion from the bipartisan infrastructure law to help Americans lower home energy costs, Energy Secretary Jennifer Granholm said on Wednesday. Low-income Americans spend up to 30% of their paychecks on energy. This investment will help them afford improvements to their homes such as switching to better insulation and ventilation, installing energy efficient heating and cooling systems and upgrading lighting and appliances, she said.

Mar 30  - Russia's gas supply to Europe at risk as rouble deadline nears
Russia said it would work out practical arrangements by Thursday for foreign companies to pay for its gas in roubles, raising the probability of supply disruptions as Western nations have so far rejected Moscow's demand for a currency switch. President Vladimir Putin's order last week to charge "unfriendly" nations in roubles for Russian gas has boosted the currency after it fell to all-time lows when the West imposed sweeping sanctions against Moscow over its invasion of Ukraine.

Mar 30  - India cuts coal supply, inventories slump as power demand surges
India has cut coal supplies to the non-power sector and put on hold plans to increase the number of fuel auctions for utilities due to a slump in inventories at state government-owned utilities even as demand for electricity surges. The supply cuts come months after India's most crippling coal shortage in the recent years led to power cuts lasting upto 14 hours in some states. The onset of summer has added to worries about power supply shortages in the country.

Mar 29  - IEA's Birol sees 'first global energy crisis,' urges focus on demand side
European gas and coal prices have hit record highs in March also lifting global energy prices amid a scramble to find alternatives to Russian supply.

Mar 29  - Finland's UPM aims to complete Leuna biorefinery by end 2023
Construction of the facility, which will produce a range of 100% wood-based biochemicals, started in 2020.

Mar 29  - Sweden's Preem Refinery increases renewable capacity

Sweden's Preem aims to expand the HVO capacity at its Gothenburg plant from 320,000 cu m/year to 1.3 million cu m/year in 2026.

Mar 29  - UAE to set up carbon credit and offsets exchange in 2022 amid 2050 net zero goal
The UAE, OPEC's third-biggest producer, is the first country in the Middle East to announce a commitment to net zero emissions by 2050.

Mar 29  - Irena adds voice to warnings that energy transition progress is too slow
The scale and pace of the transition to a renewables-based global energy system is "inadequate" the International Renewable Energy Agency has warned in its World Energy Transitions Outlook, calling for a "steadfast" commitment to climate goals as countries respond to the current energy crisis.

Mar 29  - Croatia eyes expansion of floating LNG import terminal, Slovenia supply option
It has received a total of 25 cargoes since it started, representing a volume of 2.2 Bcm of gas equivalent, according to data from S&P Global Commodity Insights.

Mar 29  - Russia and West at odds over gas payments in roubles
Russia said on Monday it will not supply gas to Europe for free as it works out methods for accepting payments for its gas exports in roubles but G7 nations refused the demand. At a meeting of European Union leaders on Friday, no common position emerged on Russia's demand last week that "unfriendly" countries must pay in roubles, not euros, for its gas in the wake of the United States and European allies teaming up on a series of sanctions aimed at Russia.

Mar 29  - No sign of EU carbon market being cornered, says watchdog

There are no major abnormalities in the European Union's large market for carbon emissions, but tighter controls could improve transparency and monitoring hampered by Brexit, the EU's securities watchdog said on Monday. The market, made up of a primary market of allowances and a secondary market of mainly derivatives based on allowances, is core EU plank for cutting carbon emissions by putting a price on pollution that companies emit.

Mar 28  - Pennsylvania lawmakers debate joining RGGI, expanding oil and gas development
A debate over enacting a carbon tax or joining the Regional Greenhouse Gas Initiative raged in the Pennsylvania House Environmental Resources and Energy Committee March 28, when the Republican-majority committee approved a bill that would allow the General Assembly to determine RGGI participation.

Mar 28  - Russia's Gazprom seeks gas payments in euros from India's GAIL  - sources
Gazprom has asked India's largest gas transmitter GAIL (India) to pay for gas imports in euros instead of dollars, two sources said, in a sign the Russian energy giant seeks to wean itself away from the U.S. currency in the wake of the Ukraine conflict. European countries and the United States have imposed heavy sanctions on Russia since Moscow sent troops into Ukraine on Feb. 24.

Mar 28  - Germany approves law mandating full gas storage before winter
The Bundestag lower house on Friday approved legislation requiring Germany's privately-operated gas storage facilities to be full at the start of the next winter, to try to avert shortages in the event of a halt in Russian gas imports. The law requires facilities to be 65% full by Aug. 1, 80% full by October, when the heating season and the gas season for utilities and traders starts, and 90% by November.

Mar 25  - German gas buyers raise the alarm over Russia's rouble demand
German utilities on Thursday said their country needed an early warning system to tackle gas shortages, a day after Russia ordered the switch of contract payments to roubles, raising the risk of a supply squeeze and even higher prices. President Vladimir Putin's rouble payment demand, which IEA Executive Director Fatih Birol called a "security threat," added to market nervousness and called into question Russia's historic claim it is a reliable gas supplier regardless of geopolitics.

Mar 25  - EU clinches U.S. LNG deal, brushes off Russian rouble demand

The European Union and United States are set to unveil a deal on Friday to supply Europe with more U.S. liquefied natural gas (LNG), sources told Reuters, as the European bloc seeks to quickly curb its reliance on Russian fossil fuels. The invasion of Ukraine by Russia, Europe's top gas supplier, pushed already-high energy prices to records and has prompted the EU to pledge to cut Russian gas use by two thirds this year, by hiking imports from other countries and quickly expanding renewable energy.

Mar 24  - Green groups call for EU suspension of crop-based biofuels (AgriCensus)
- A study cited by green industry lobby groups and released Thursday has said the EU’s reliance on crop-based biofuels is contributing to global food insecurity following Russia’s invasion of Ukraine and blockade of Black Sea ports — and warrants a complete halt to the use of edible feedstocks such as wheat, corn and vegetable oils. The research was cited in a call by a coalition of environmental NGOs for national governments to suspend the blending of edible crops into biofuels, and for EU policymakers to avoid opening up set-aside land for the growth of crops in view of proposals by the European Commission on Wednesday to improve the bloc’s food security.
“The EU and other countries are using enormous amounts of food crops for biofuels. Cutting those feedstocks out of the EU’s biofuels mix would shield the EU from major supply shortages and would also ease pressure on the world market,” said the study, which was commissioned by Brussels-based NGO Transport & Environment.

- A reduction of wheat used in EU biofuels to zero would compensate for 21% of the total wheat exports of Ukraine and help avoid food insecurity in other countries depending on Ukrainian wheat supplies, the report said. While for corn, the amount turned into biofuels in the EU is equivalent to nearly 60% of the volume imported from Ukraine, or nearly a third of Ukraine’s global exports.
“If the EU would instead use the 3.6 million mt of wheat [used for biofuels] to make bread, this would be equivalent to 76 billion 750g loaves of bread every year, or 15 million per day,” the study said, pointing out that high prices for agricultural commodities risked worsening poverty for low-income Europeans and a potential crisis of hunger in less developed countries.

- If sunflower oil was to be omitted from the EU’s biodiesel market import dependency could be reduced by a third, the report said, adding that this outcome would free up nearly 9% of the sunflower oil supplied by Ukraine to the global market. The study pointed out that the EU’s ability to switch from crop-based feedstocks to waste-based products as used cooking oil or ‘advanced’ materials such as farm and forest residues was also highly limited, while biomethane – touted earlier this month a potential replacement for imports of Russian natural gas – was also limited in terms of available crop-based feedstocks. The report cited figures that biodiesel, oils derived from rapeseed, palm, soy, and sunflower crops make up 78% of total feedstocks in the EU.

- For bioethanol, the role of crop-based feedstocks is even higher, the  report said, with corn, wheat, sugar-based crops (such as sugar beet), and other cereals (including barley and rye) accounting for 96% of feedstock consumption. By press time on Thursday, biofuels lobby groups hadn’t responded formally to the study’s assertions, but some ethanol and biodiesel producers in the past have pointed out that much of the wheat and corn consumed in the EU is animal feed grade rather than for human consumption.

- T&E over the years has been consistent in its opposition to the use of crop-based and standard waste-based feedstocks in road-based biofuels and is lobbying EU policymakers to rapidly phase out combustion engines in favour of battery-powered cars and trucks.  The report came the day after The European Commission said it would support member states that suspend or relax binding biofuels blending mandates and bolster supplies of edible crops for food and feed markets in the wake of price spikes and fears of shortages in key commodities following Russia’s war on Ukraine. The EU’s executive on Wednesday outlined a package of measures to bolster the bloc’s food security in the wake of Russia’s attack on Ukraine, such as turning over land to food production from areas that had been set aside for biodiversity.

Mar 24  - Latest US sanctions on Russia target gold trades, Putin's inner circle
The measures announced March 24 are aimed at Russian political, banking and defense officials close to Putin, along with their property, holdings and family members, the State Department said.

Mar 24  - UK adds Gazprombank, Sovcomflot, Alfa-Bank to Russian sanctions list
Sovcomflot, Russia's largest shipping company, was already facing strong headwinds from customers avoiding its vessels on the spot market, industry sources said March 2.

Mar 24  - Putin wants 'unfriendly' countries to pay for Russian gas in roubles
Russia will seek payment in roubles for gas sold to "unfriendly" countries, President Vladimir Putin said on Wednesday, and European gas prices soared on concerns the move would exacerbate the region's energy crunch. European nations and the United States have imposed heavy sanctions on Russia since Moscow sent troops into Ukraine on Feb. 24. But Europe depends heavily on Russian gas for heating and power generation, and the European Union is split on whether to sanction Russia's energy sector.

Mar 24  - EU seeks answers to energy supply crunch, U.S. LNG deal
EU leaders are expected to agree at a two-day summit starting on Thursday to jointly buy gas, as they seek to cut reliance on Russian fuels and build a buffer against supply shocks, but the bloc remains unlikely to sanction Russian oil and gas. The invasion of Ukraine by Russia, Europe's top gas supplier, pushed already-high energy prices to records and has prompted the European Union to attempt to slash reliance on Russian fossil fuels by hiking imports from other countries and quickly expanding renewable energy.

Mar 23  - EC proposes 80% minimum gas storage obligation by Nov. 1, 2022
Low stock levels across Europe and the need to refill them over the coming summer have contributed to record high gas prices.

Mar 23  - Vitol takes 50% stake in UK hydrogen station producer ITM Motive
Under the agreement, ITM Power will be preferred supplier for up to 240 MW of electrolysis equipment to Motive, while Vitol will provide up to 240 MW of renewable power to the network of refueling stations.

Mar 23  - Italy eyeing two floating LNG plants to cut Russia gas reliance
Italy is looking to install two floating storage and regasification units (FSRU) to boost liquefied natural gas (LNG) imports as part of plans to cut reliance on Russian gas, Italy's energy transition minister said on Tuesday. "Today we officially mandated (gas group) Snam to negotiate the acquisition of an FSRU and the leasing of a second," Roberto Cingolani said in a parliamentary hearing.

Mar 23  - Activist investor Enkraft demands shareholder vote on RWE brown coal spin-off

Activist investor Enkraft is demanding a shareholder vote to force RWE to prepare a spin-off of its brown coal unit at the utility's annual general meeting (AGM) next month, according to a filing made public on Tuesday. Enkraft, which owns a stake in RWE that is large enough to request items be put on the AGM's agenda, has for months lobbied for such a move, and while there is general consensus about the necessity to phase out coal, both sides differ over strategy.

Mar 22  - DES Northwest Europe LNG price premium versus Mediterranean widens amid Spanish oversupply
Demand there has been soft due to mild temperatures and high wind generation, traders said.

Mar 22  - Spain backs away from EU wholesale power price cap plan
The Spanish government is unlikely for now to propose an EU-wide cap of 180 euros ($198.61) per megawatt hour on the wholesale electricity price, a source with the Energy Ministry said on Monday. Spain and Portugal agreed last week to propose the limit to tackle the surge in energy prices exacerbated by Russia's invasion of Ukraine. Portuguese Prime Minister Antonio Costa said the two countries would push ahead with the plan even without backing from the European Union as a whole.

Mar 22  - Europe split on how to spare consumers energy price pain
Proposals from southern European countries to intervene in energy markets have highlighted the difficulty facing an EU summit this week as it seeks to respond to record prices driven by Russia's invasion of Ukraine. The 27 EU-member states are responsible for their own national energy policies. That complicates the European Commission's task of devising a plan as it balances the goals of cutting reliance on Russian energy, limiting economic pain and not losing sight of its ambitions to cut carbon emissions.

Mar 21  - UAE ADNOC sets sights on hydrogen exports to Germany
Deals were announced with German companies including Uniper, Aurubis and RWE.

Mar 21  - Germany in talks with Qatar on long-term gas supplies to reduce Russian dependence
Germany and Qatar are negotiating a long-term energy partnership, government officials from both sides said Sunday, as Europe's biggest economy seeks to become less dependent on Russian energy sources. Germany said a partnership had been clinched, but Qatar stopped short of saying a deal had been finalised.

Mar 21  - Balancing Britain's energy security options as prices rise
Britain is expected to publish its plan next week on how to boost domestic energy supplies to try to tackle spiralling prices and reduce the amount of imported oil and gas from Russia after its invasion of Ukraine. The government has said all options are on the table. The following are some of those investors and consumers can expect.

Mar 18 - High energy costs intensify debate over Europe's carbon plan
A European Union plan to charge fuel suppliers for the CO2 emitted by cars and heating buildings is emerging as the most contentious element in a raft of climate change policies the bloc's member states are negotiating this year. EU policymakers proposed the new carbon market for transport and heating in July, as part of plans to meet the EU's climate change target to cut net emissions 55% by 2030 from 1990 levels.

Mar 18 - Europe faces struggle to escape Russian gas this year
The European Commission's plan to cut dependence on Russian gas this year will be hard to achieve and could trigger a competitive and costly dash for the fuel when energy prices are already inflicting economic pain. The European Union's executive last week published a blueprint to cut EU dependency on Russian gas by two thirds this year and end all Russian fossil fuel imports well before 2030.

Mar 17 - Biden administration approves more LNG exports to Europe
The Biden administration said on Wednesday it had authorized additional exports of liquefied natural gas from two major facilities on the U.S. Gulf Coast, in a move that could help Europe deal with an energy crunch worsened by Russia's invasion of Ukraine. The Department of Energy (DOE) issued approvals allowing major supplier Cheniere Energy to export the equivalent of 0.72 billion cubic feet per day (bcfpd) of the supercooled fuel from its Sabine Pass, Louisiana and Corpus Christi, Texas, terminals to countries that do not have free trade agreements with the United States including all of Europe.

Mar 17 - Norway to supply more gas to Europe this summer

Norway will boost its natural gas output in the coming months, keeping production higher than normal through the summer and delivering bigger volumes to Europe at a time of shortages and soaring prices, Equinor said on Wednesday. Russia's invasion of Ukraine has driven up already high gas prices and left European nations scrambling to fill storage depleted by winter consumption and seek alternatives to Russian supply.

Mar 16  - For Dutch province, Ukraine war is a call to pump natural gas
Images of bombed-out hospitals and apartment buildings across Ukraine reminded Jannie and Bert Schrage of their home country during World War Two. Then the retired couple, who live in the north of the Netherlands, realised they had a resource to help slow President Vladimir Putin's campaign – natural gas. The Schrages live above the Groningen gas field, Europe's largest. They have been opposing gas production since earthquakes started to force them out of their homes a decade ago. Now, like a majority of those polled in their province, they say that if it would help Ukraine, they may allow more gas to be pumped out.

Mar 16  - Thailand faces perfect storm as it seeks more LNG supply
A global energy crunch is sending liquefied natural gas prices skywards, but Thailand needs to ramp up its purchases to offset a steep production fall at its largest gas field and as sanctions threaten supplies from Myanmar. The Southeast Asian country has little choice but join the scramble for alternative gas supplies at a time European demand is rising. Buyers there are rushing to secure cargoes to replace Russian gas and LNG as the Ukraine war intensifies.

Mar 15  - Shell directors may face lawsuit over climate transition plans
Environmental lawyers ClientEarth said on Tuesday they were preparing legal action against the directors of Shell over the company's climate transition plan, in what they said would be the first such case of its kind. The ClientEarth lawyers said they are seeking to hold the directors personally liable for what they consider to be a failure to adequately prepare for the global shift to a low-carbon economy, claiming an alleged breach of the directors' duties under the UK Companies Act.

Mar 15  - Russia's exports of coal, crude, LNG slipping as self-sanctioning starts: Russell
The voluntary shunning of Russian commodities by Western buyers, or self-sanctioning, was expected to start hitting exports of crude oil, liquefied natural gas (LNG) and coal from April, but there are already signs that flows are weakening. Russia's invasion of neighbouring Ukraine has prompted numerous Western companies to withdraw from their investments in Russia and scale back or halt their purchases of energy commodities, the mainstay of Russia's economy.

Mar 14  - Australian billionaires put more money into $15 bln solar power export project
Australia's two richest men joined a A$210 million ($152 million) capital raising for an ambitious project to supply Singapore with solar power via an undersea cable, the company said on Monday. Private companies of Andrew Forrest, founder of iron ore giant Fortescue Metals Group Ltd, and Mike Cannon-Brookes, co-founder of software maker Atlassian Plc, upped their investments, the parties said, as the Sun Cable project inches toward becoming a supplier of renewable energy to the region.

Mar 14  - BP, Eni clinch deal on Angola joint venture
Eni and BP have completed a deal to merge their oil and gas operations in Angola, the groups said on Friday, confirming what sources earlier exclusively told Reuters. The deal will create a company called Azule Energy that is expected to be Angola’s largest producer with stakes in 16 licences and in the Angola LNG joint venture.

Mar 11  - Ukraine says Russian troops at gas compressor stations pose supply risk
The arrival of Russian troops at two gas compressor stations in eastern Ukraine poses a risk to European supplies, Ukraine's gas pipeline operator warned on Thursday, although there were no signs of an immediate impact on flows. Russia said compressor stations at Novopskov in the Luhansk region and Kupiansk near Kharkiv were under its control, and it guaranteed the safety of all operations and equipment.

Mar 11  - U.S. push to export LNG amid Ukraine crisis slowed by climate concerns, sources say
White House efforts to boost U.S. liquefied natural gas exports and cut Europe's reliance on Russian gas after the invasion of Ukraine are proceeding slowly, because of concerns about the impact on climate change, government and industry sources said. The Ukraine crisis has underscored Europe's energy dependence on Russia, which supplies about 40% of the natural gas used to heat its homes and generate electricity, and the Biden administration has vowed to help its allies break that chain.

Mar 11  - India's Russian coal imports could be highest in over two years in March
India's coal imports from Russia in March could be the highest in more than two years, data from research consultancies showed, as Indian buyers continue buying the fuel from a market that is now increasingly isolated by sanctions. Vessels carrying at least 1.06 million tonnes of coking coal, mainly used for steelmaking, and thermal coal, used primarily for electricity generation, are set to deliver the fuel at Indian ports in March, the highest since January 2020, data from consultancy Kpler showed.

Mar 10  - EU leaders tackle escape route from Russian fossil fuels
European Union leaders will tackle ways to wean themselves off Russian fossil fuels on Thursday and debate how quickly to ditch their key supplier, with countries split over whether to sanction oil and gas imports as Moscow wages war in Ukraine. Russia's invasion of Ukraine prompted Brussels to unveil plans this week to reduce reliance on Europe's top gas supplier this year and end it within the decade.

Mar 10  - Gas security a growing worry due to Russia's export dominance
Energy industry leaders said the burgeoning energy crisis is perhaps more dire for Europe's natural gas market than its crude oil imports, due to the continent's dependency on Russia and as prices have been sky-high for months. Panelists at this year's CERAWeek conference in Houston have stressed increased need for secure energy supply. European gas markets have been in turmoil since last year as Russia slowed pipeline flows and as Asian demand for liquefied natural gas (LNG) surged, driving up prices across the globe.

Mar 09  - Global energy-related CO2 emissions rose to record high in 2021 - IEA
Global energy-related emissions of carbon dioxide rose to their highest ever level last year as economies recovered from the coronavirus pandemic and coal use increased, the International Energy Agency (IEA) said on Tuesday. Global emissions from energy rose 6% in 2021 to a record 36.3 billion tonnes, IEA analysis showed.

Mar 09  - EU rolls out plan to cut Russia gas dependency this year

The European Commission published plans on Tuesday to cut EU dependency on Russian gas by two-thirds this year and end its reliance on Russian supplies of the fuel "well before 2030". The European Union executive said it would switch to alternative supplies and expand clean energy faster under the plans, which national governments will be largely responsible for implementing.

Mar 08  - EU to phase out Russian gas, oil, coal imports - leaders' draft
European Union leaders will agree at a summit this week to phase out the EU's dependency on imports of Russian gas, oil and coal, a draft statement showed, marking a turning point in its policy towards Moscow prompted by Russia's invasion of Ukraine. EU leaders will meet in Versailles on Thursday and Friday to discuss boosting their joint defence capability and Ukraine's bid to become a member of the 27-nation bloc.

Mar 08  - Nuclear reactor restarts could be 'best option' for Japan to ride out energy shortages - senior ruling party lawmaker
Speeding up the restart of nuclear reactors halted in the wake of the Fukushima nuclear accident may be Japan's "best option" for riding out any oil and gas shortages that result from sanctions imposed on Russia, a senior ruling party lawmaker said on Tuesday. Japan has repeatedly said that, in the event of a possible U.S.-led embargo on Russian oil, it would work with Group of Seven nations to respond appropriately. There has so far been no impact on its energy supply from the situation.

Mar 07  - UK ponders ban on Russian oil and gas imports, lots of coordination needed: minister
This comes after US Secretary of State Antony Blinken said the US and its allies were looking in a "coordinated way at the prospect of banning the import of Russian oil while making sure that there is still an appropriate supply of oil on world markets".

Mar 07  - EC to unveil new energy security proposals March 8
The first is diversification of supply away from Russia and toward "reliable partners" von der Leyen said, pointing to mainly LNG and pipeline gas.

Mar 07 - Germany pushes ahead with LNG plans to cut Russian gas exposure
Germany on Saturday took further steps to cut reliance on Russian energy supplies by unveiling plans for a terminal to import liquefied natural gas (LNG), the latest sign of a policy shift in the wake of Moscow's invasion of Ukraine. German state lender KfW has signed a memorandum of understanding with the country's top power producer RWE and Dutch network operator Gasunie to build the terminal in the port town of Brunsbuettel, the Economy Ministry said.

Mar 07 - China confident of ensuring energy supply despite challenges
China's government is capable of supplying sufficient energy despite serious challenges as it will step up production capacity and boost reserves to keep prices under control, state planning officials said on Monday. Energy and global commodities prices have soared to decade-high levels amid fears of supply disruption after Russia's invasion to Ukraine.

Mar 04 - Europe could cut Russian gas imports by over a third in a year, IEA says
Europe could cut Russian gas imports by more than a third within a year, the International Energy Agency (IEA) said on Thursday in its 10-point plan on reducing reliance on Russia. The European Union depends on Russia for about 40% of its gas needs, making it the bloc's biggest supplier, but the Russian invasion of Ukraine has sharpened concerns about this reliance and the possibility for supply disruptions.

Mar 04 - Italy won't find it easy to kick Russian gas habit
Italy's plan to bump up gas imports via southern routes to reduce its energy dependence on Russia will take time and money to achieve and is likely to come at a cost to Italian households and businesses. Russia's invasion of Ukraine has triggered sweeping Western sanctions that threaten to disrupt commodity flows, raising the spectre of gas shortages, blackouts and further price increases.

Mar 03  - Seaborne Russian gas supplies to Europe disrupted by looming port bans
Supplies of Russian liquefied natural gas (LNG) to Europe have been disrupted by uncertainty over whether ships can discharge cargoes at European ports due to sanctions imposed on Moscow, according to ship tracking data and trade sources on Wednesday. The disruptions come at a time when Europe is contending with record prices for natural gas due to tight supplies that have ramped up energy bills and led governments to pay billions of dollars in subsidies to consumers struggling to stay warm.

Mar 03  - U.S. weighs sanctions on Russia energy flows, but time is not 'right now'
The United States is open to imposing sanctions on Russia's oil and gas flows but going after its exports now could help Moscow, the White House said on Wednesday as oil prices surged to an 11-year high and supply disruptions mounted. After Russia's invasion of Ukraine, the White House slapped sanctions on exports of technologies to Russia's refineries and the Nord Stream 2 gas pipeline, which has never launched. So far, it has stopped short of targeting Russia's oil and gas exports as the Biden administration weighs the impacts on global oil markets and U.S. energy prices.

Mar 02  - European carbon plunges 16%, decoupled from energy complex
The benchmark European carbon contract plunged by more than 16% on Tuesday afternoon and is down more than 28% since the Russian invasion of Ukraine, with the price decoupling from the energy markets it usually tracks. The benchmark December 2022 contract fell to a low of low of 66 euros/tonne and traded at 67.90 euros/tonne by 1549 GMT, down 17.4% on Monday's close and its lowest level since mid-November, on profit taking and concerns over demand.

Mar 02  - U.S. utilities push White House not to sanction Russian uranium
The U.S. nuclear power industry is lobbying the White House to allow uranium imports from Russia to continue despite the escalating conflict in Ukraine, with cheap supplies of the fuel seen as key to keeping American electricity prices low, according to two sources familiar with the matter. The United States relies on Russia and its allies Kazakhstan and Uzbekistan for roughly half of the uranium powering its nuclear plants - about 22.8 million pounds (10.3 million kg) in 2020 - which in turn produce about 20% of U.S. electricity, according to the U.S. Energy Information Administration and the World Nuclear Association.

Mar 01 - EU to urgently link electricity grid with Ukraine's
Energy ministers from European Union countries on Monday agreed to urgently link a European power system to Ukraine's grid, a move that would increase its independence from Russia following Moscow's invasion of the country. The invasion of Ukraine by Russia, Europe's top gas supplier, has sharpened concerns of disruption to energy supplies and increased scrutiny of European Union countries' reliance on imported fossil fuels.

Mar 01 - Germany to speed renewables push due to Ukraine crisis

Germany aims to speed up wind and solar energy projects, the economy ministry said on Monday, as the war in Ukraine underscores the need to reduce reliance on Russian gas. The country, which uses gas to heat half of its households, also announced plans to ensure the country's gas storage facilities are full at the beginning of winter, irrespective of operator interests, the ministry said.

Feb 28  - Nuclear, coal, LNG: 'no taboos' in Germany's energy about-face
Germany signalled a U-turn in key energy policies on Sunday, floating the possibility of extending the life-spans of coal and even nuclear plants to cut dependency on Russian gas, part of a broad political rethink following Moscow's invasion of Ukraine. Europe's top economy has been under pressure from other Western nations to become less dependent on Russian gas, but its plans to phase out coal-fired power plants by 2030 and to shut its nuclear power plants by end-2022 have left it with few options.

Feb 28  - Ukraine tells power stations to switch to gas to preserve coal,
DTEK CEO says
The Ukrainian government has instructed power stations to switch to natural gas to preserve strategic coal reserves, the head of the country's biggest private power producer said on Saturday. DTEK Chief Executive Maxim Timchenko said the country has 15 to 20 days left of coal reserves, or 730,000 tonnes. DTEK is involved across the energy sector, from renewables to coal and oil, and accounts for a quarter the country's power generating facilities.

Feb 25  - How a German state helped Moscow push a pipeline, weakening Ukraine
In the north German state of Mecklenburg-Vorpommern, where former Chancellor Angela Merkel had her constituency, ties to Russia run deep – so deep, in fact, its leaders have defended a Kremlin project that the United States says helped cripple Ukraine. At issue is a new gas pipeline project, which Germany halted on Tuesday in retaliation for Russia's decision to recognise two breakaway regions in eastern Ukraine, shortly before it invaded and brought Europe to the brink of a major war.

Feb 25  - U.S. offshore wind bids soar past $3 bln, auction to continue Friday
The Biden's administration's sale of offshore wind development rights off the coasts of New York and New Jersey surged past all expectations on Thursday to reach more than $3.3 billion, with bidding still not complete. The auction, which began on Wednesday and is due to resume on Friday morning, is the first offshore wind lease sale under President Joe Biden, who sees expansion of offshore wind as a way to tackle climate change and create thousands of new jobs.

Feb 24  - Singapore's latest carbon tax announcement hailed as timely for refining sector
Singapore's latest Budget announcement unveiling plans to raise the carbon tax rate from the current $5/mt of emissions to between $50 and $80 by 2030 is largely hailed as a positive move by industry sources. However, they believe that the refining sector will have to transition swiftly, amid other hurdles, to aid the country's net zero ambitions.

Feb 24 - U.S. slaps sanctions on company building Russia's Nord Stream 2 pipeline
The United States on Wednesday imposed sanctions on the company in charge of building Russia's Nord Stream 2 gas pipeline, expanding penalties on Moscow after it recognized two breakaway regions in eastern Ukraine. The sanctions, which target the Nord Stream 2 AG company and its CEO, Matthias Warnig, add to pressure on the Baltic Sea project that was designed to double the gas flow capacity from Russia to Germany.

Feb 24 - China sets price guide for benchmark thermal coal to cool rally

China has set a "reasonable" price range for the benchmark 5,500 kcal thermal coal at Qinghuangdao Port for medium- and long-term trading at 570-770 yuan ($86.98-$121.77) a tonne, the country's state planner said on Thursday. The move comes as Beijing strives to balance the profits of coal miners and power generators after widespread electricity outages and runaway coal prices last year.

Feb 23  - Multiple problems must be solved for voluntary carbon market rollout: law firm
Fragmented markets and a lack of standardization and transparency stand in the way of scaling global carbon markets and require the public and private sector to work together to find solutions, Ingrid York, partner at law firm White and Case, said at the International Energy Week forum Feb. 22.

Feb 23  - Energy sector methane emissions 70% higher than official figures - IEA
Emissions of the potent greenhouse gas methane coming from the global energy sector are 70% higher than officially reported, the International Energy Agency (IEA) said on Wednesday, with the coal sector identified as the biggest single source. In its 2022 Global Methane Tracker report, the Paris-based watchdog said the world needed to step up its monitoring efforts and policy action to curtail emissions of the polluting gas.

Feb 23  - Germany freezes Nord Stream 2 gas project as Ukraine crisis deepens
Germany on Tuesday halted the Nord Stream 2 Baltic Sea gas pipeline project, designed to double the flow of Russian gas direct to Germany, after Russia formally recognised two breakaway regions in eastern Ukraine. Europe's most divisive energy project, worth $11 billion, was finished in September, but has stood idle pending certification by Germany and the European Union.

Feb 22  - Biden vows to stop Nord Stream 2 pipeline as US sanctions Russian banks, ships
The US will work with Germany to block the Nord Stream 2 gas pipeline and impose sanctions against Russian bank VEB, US President Joe Biden said Feb. 22 in announcing the "first tranche" of penalties after Russian President Vladimir Putin sent troops into eastern Ukraine.

Feb 22  - Germany says Nord Stream 2 gas pipeline certification cannot now go ahead
Halting the certification process means the 55 Bcm/year pipeline -- which was completed in September -- will be unable to begin commercial operations.

Feb 22  - Russia's Transneft sees no impact on oil flows to Europe on Ukraine conflict escalation

Feb 22  - Japan to ensure stable energy supply with reserves if Russia-Ukraine crisis worsens: minister
Japan will make every effort to ensure stable energy supply for the country with its petroleum reserves and LNG stocks should the Russia-Ukraine situation deteriorate further, Minister of Economy, Trade and Industry Koichi Hagiuda said Feb. 22.

Feb 22  - Russia will continue uninterrupted supplies of gas, LNG to global markets: Putin
In his address to the Gas Exporting Countries Forum summit in Doha, Putin said Russia would improve the existing infrastructure and increase investment in the gas sector.

Feb 22  - HSBC targets 34% cut to emissions from financed oil and gas clients by 2030

- Disclosing its so-called "financed emissions" for the first time, HSBC said the new target is equal to the percent reduction that the IEA indicates in its net-zero scenario for global sector emissions to 2030 from a 2019 baseline. 
- HSBC aims to cut emissions associated with loans made to its oil and gas clients by 34% this decade, the bank's sustainability chief told Reuters, marking the first time that Britain's biggest lender has committed to such a target. More than 100 banks have pledged to reach net zero carbon emissions by 2050 and are under pressure to provide details on the deep shorter-term cuts to "financed emissions" that are needed if banks are to have any chance of meeting their goal.

Feb 22  - LNG market supply-demand balance to remain tight in 2022, says Shell
The global liquefied natural gas (LNG) market is expected to remain tight this year following last year’s volatility which saw demand rise 6% and gas prices hit an all-time high, Shell said on Monday. Natural gas prices around the world soared late last year due to a combination of tightening supplies, weaker renewable power generation and a strong growth after Covid-19.

Feb 21  - Australia's AGL Energy spurns surprise $3.5 bln bid, stands by demerger plan
Australia's top power producer AGL Energy Ltd on Monday rejected an unsolicited $3.54 billion takeover overture from tech billionaire Mike Cannon-Brookes and Canada's Brookfield Asset Management, sticking to its own spin-off tune. The surprise bid comes as AGL seeks to split itself in two - a retail and renewable energy operation and a coal-fired generation business - by June in an attempt to turn around a 75% slump in its market value over the past five years.

Feb 21  - French state to inject over 2 bln euros into troubled EDF

The French state said on Friday it will inject around 2.1 billion euros ($2.39 billion) into EDF to ease the financial pain inflicted by nuclear reactors going offline and the government making the firm supply power below market prices. Finance Minister Bruno Le Maire said the state capital injection will be made via a rights issue, announced by EDF on Friday, aimed at raising 2.5 billion euros to plug holes in the company's balance sheet.

Feb 18  - New Israeli gas export route to Egypt to maximize Leviathan output: Delek
Israel's energy ministry on Feb. 16 said it had approved the start of gas flows to Egypt via Jordan, with first supplies expected to begin before the end of February.

Feb 18  - Singapore to raise carbon tax to $25/mtCO2e in 2024, 2025
The carbon tax will allow Singapore to meet its climate change commitments and green energy plans, along with supporting a range of other measures to make the city-state a hub for carbon trading expertise in the region.

Feb 18  - RWE could add $19 billion in value if it ditches brown coal - Enkraft
RWE could add 16.5 billion euros ($18.8 billion) in value, or about two-thirds, if it divests its brown coal unit, activist investor Enkraft said on Thursday, maintaining its criticism that the group was not showing enough effort to do so. Enkraft, which first disclosed a stake in the firm in September, specialises on energy investment and has a track record in renewables.

Feb 18  - Profit at Portugal's biggest utility down 18% on one-off costs
Portugal's largest utility, EDP-Energias de Portugal, on Thursday reported an 18% drop in 2021 net profit to 657 million euros ($747 million) due mainly to one-off costs, including impairments on thermal assets in Iberia. It said such non-recurring negative effects totalled 169 million euros.

Feb 17  - European biomethane industry pushes economic case for sector build-out
The EBA added that biomethane could also help reduce EU dependency on external suppliers.

Feb 17  - India unveils interim renewable hydrogen/ammonia policy
A spokesperson from the Ministry of New and Renewable Energy (MNRE) said a more comprehensive hydrogen policy was under examination for release at a later date.

Feb 17  - Hy24, partners raise $227 million for green hydrogen fuels projects in Europe

Calling the investment the largest private green hydrogen-focused capital raise to date, the fund is led by Hy24 together with Mirova, CDPQ and strategic investor, Technip Energies, the company said.

Feb 17  - Australia's biggest coal-fired power plant to shut in 2025
Origin Energy said on Thursday it plans to shut the Australia's biggest coal-fired power plant in 2025, seven years earlier than scheduled, as an influx of wind and solar power has made the plant uneconomic to run. Origin's announcement to quit coal-fired power follows moves by its rivals to accelerate the closure of their coal-fired plants, all struggling with sliding power prices which have hurt plants that don't have the flexibility to switch off when there is surplus energy.

Feb 17  - Lead EU lawmaker proposes carbon market rules to respond to price spikes
The European Parliament's lead lawmaker on reforms to the EU carbon market on Wednesday proposed rules to make it easier for policymakers to intervene in the scheme if prices rise too fast. European Union policymakers are preparing to negotiate reforms to the market, the bloc's core policy tool for curbing emissions.

Feb 17  - Indonesia Jan coal exports at 12 mln tonnes 
- energy minister
Indonesia produced 34 million tonnes and exported 12 million tonnes of coal in January, energy minister Arifin Tasrif said in a parliamentary committee hearing on Thursday. The world's top thermal coal exporter suspended international shipments of the fuel in early January to secure domestic supply, jolting global markets. Indonesia is targeting total production of 663 million tonnes this year.

Feb 16  - Platts Analytics sizes up oil's carbon intensity from North Sea to Venezuela
The updated rankings published Feb. 15 look at the carbon intensity of 104 crude streams across the world, with values expressed in kilograms of carbon dioxide equivalent per barrel of oil equivalent.

Feb 16  - Shell moves to sell British North Sea southern gas fields - sources
Shell is preparing to launch the sale of its stakes in two clusters of gas fields in the southern British North Sea, part of an ongoing retreat of long-time producers from the ageing basin, industry sources told Reuters. Shell is planning to offer its 50% stake in a cluster of fields in the Clipper hub, as well as the Leman Alpha complex, the three sources said, adding that the assets could fetch up to $1 billion in total.

Feb 16  - Brazil audit court backs Eletrobras post-privatization concession payments
Brazil's TCU audit court on Tuesday approved concession fees state-run power company Eletrobras will have to pay the federal government to continue operating some hydroelectric dams after its privatization. The decision removes a barrier to the market capitalization that is a key part of handing control of the utility to private investors.

Feb 16  - Green hydrogen costs still need dramatic fall, despite soaring gas: Linde
The recent record-high gas prices in Europe had made it easier to talk about green hydrogen today, Burns said, but noted that longer term, a stable, consistent high carbon price was needed to support low-carbon and renewable hydrogen projects.

Feb 15  - Major institutions provided $1.5 trillion to coal industry from 2019 to 2021 – research
Hundreds of financial institutions channelled $1.5 trillion into the coal industry in loans and underwriting from January 2019 to November 2021, even though many have made net-zero pledges, a report by a group of 28 non-government organisations showed. Reducing coal use is a key part of global efforts to slash climate-warming greenhouse gases and bring emissions down to "net zero" by the middle of the century, and governments, firms and financial institutions across the world have pledged to take action.

Feb 15  - EU likely to intensify fact-finding on Gazprom – source
EU antitrust regulators are likely to intensify information gathering on Gazprom's European businesses, said a person familiar with the regulator's thinking, amid Europe's gas supply crisis. Last month EU antitrust chief Margrethe Vestager said she had asked gas companies including Gazprom about tight supplies after accusations the Russian giant was withholding extra production that could be released to lower soaring prices.

Feb 14  - U.S. supplies give China muscle to become major force in global LNG trade
Chinese firms are set to become a major trading force in the global liquefied natural gas market in coming years, thanks to liberalisations at home and recently signed long term contracts for record amounts of LNG from U.S. suppliers. Setting their sights beyond the domestic market, state-run Sinopec Corp, Sinochem Group, privately-controlled ENN Natural Gas Co and China Gas are building up trading teams from Beijing, Singapore to London.

Feb 14  - Asian LNG prices stable but rises expected on colder weather
Asian spot liquefied natural gas (LNG) stabilised this week but is expected to rise over the coming weeks as below-normal temperatures across much of north-east Asia could send buyers back to the spot market to boost inventory levels. The average LNG price for March delivery into north-east Asia reached $24.70 per metric million British thermal units (mmBtu), down $0.30, or 1.2% from the previous week, industry sources said.

Feb 11  - US Congress needs to 'start doing something' for clean hydrogen: Manchin
Democratic Senator Joe Manchin signaled strong support for clean hydrogen tax credits during a Feb. 10 committee hearing.

Feb 11  - Norwegian company Aker Clean Hydrogen boosts project portfolio to 2 GW
Norwegian company Aker Clean Hydrogen has increased its portfolio of projects to 2 GW.

Feb 11  - Macron bets on nuclear in carbon-neutrality push, announces new reactors
France will build at least six new nuclear reactors in the decades to come, President Emmanuel Macron said on Thursday, placing nuclear power at the heart of his country's drive for carbon neutrality by 2050. Macron said the new plants would be built and operated by state-controlled energy provider EDF and that tens of billions of euros in public financing would be mobilized to finance the projects and safeguard EDF's finances.

Feb 11  - Lead lawmaker eyes EU carbon market rules to respond to price spikes
European Parliament's lead negotiator on an overhaul of Europe's carbon market on Thursday said he was considering changes to rules that allow policymakers to intervene in the scheme if prices rise too fast. European Union carbon prices soared by around 150% last year and traded at a record 98.49 euros per tonne of CO2 earlier this week.

Feb 10  - Japan's MOL operates bunkering vessel using biodiesel fuel

 The BDF used for the vessel as fuel was fatty acid methyl ester generated through transesterification of collected waste cooking oil with methanol, MOL said in a statement Feb. 9, adding that the use of this fuel was expected to reduce CO2 emissions by 25%-30% when compared to conventional fuel oil. 

Feb 10  - U.S. reaches out to foreign producers in Algeria on gas options  - sources
The U.S. government has asked to meet Eni, TotalEnergies and other energy companies operating in Algeria to see if more gas can be sourced from the country, sources familiar with the matter said. The move comes as Washington ramps up efforts to find alternative gas supplies for Europe in case any disruption arises from the standoff between Russia and Ukraine.

Feb 10  - Norway to launch 1.5 gigawatt offshore wind tender
Norway will launch later this year its first tender for bottom-fixed offshore wind turbines in the southern North Sea, planning to develop 1.5 gigawatt of electricity that will supply the Norwegian mainland, the country's government said on Wednesday. Offshore wind is seen as a key new industry offering a potential transition for Norway's dominant oil and gas sector to a renewable energy future, while building on the existing industry's technical know-how.

Feb 09  - EDF's shares fall after French firm cuts nuclear output forecast
EDF shares fell on Tuesday after the troubled French state-controlled power group made fresh cuts to its nuclear output projections, which drove up prices for European gas, power and carbon. EDF, which announced its revisions on Monday, has faced pressure from government steps to tackle higher energy bills. It has also been plagued by delays over new reactors and been forced to shut reactors to deal with corrosion and other safety issues.

Feb 09  - British households may face another energy price hike, regulator says

British households could face a further increase in energy prices when a price cap is updated again in October, especially if there is a Russia-Ukraine conflict, the chief executive of energy regulator Ofgem said on Tuesday. Ofgem said last week the price cap, protecting some 22 million households, would rise by 54% from April 1 due to an unprecedented rise in wholesale gas prices over the past year.

Feb 08  - EU, US pledge gas cooperation as tensions rise over Ukraine
The United States and the European Union pledged on Monday to work to ensure gas supplies can respond to disruptions in pipeline gas flows, as tensions rise over the massing of troops on Ukraine's borders by Russia, Europe's biggest gas supplier. "We're working together right now to protect Europe's energy supply against supply shocks, including those that could result from further Russian aggression against Ukraine," U.S. Secretary of State Antony Blinken told reporters in Washington, alongside Josep Borrell, the EU foreign policy chief.

Feb 08  - U.S. carbon pipeline proposals trigger backlash over potential land seizures

A flurry of proposed carbon pipelines in the U.S. Midwest has triggered a battle over whether companies behind the projects should be allowed to seize land from unwilling property owners to secure a route. Hundreds of Iowa landowners, more than a dozen state counties and a handful of lawmakers are seeking to limit the use of eminent domain law by the projects, arguing property rights and other concerns outweigh the potential benefits of the pipelines to local industry and the climate, according to a Reuters analysis of regulatory documents and interviews with people involved.

Feb 08  - BHP unveils world's first LNG-powered ore carrier, sees 30% emissions cut
BHP Group unveiled the world's first liquefied natural gas-fuelled bulk carrier vessel in Singapore on Monday, one of five vessels that the mining giant will take delivery of in 2022 as part of efforts to curb supply chain emissions. The 299-metre (981 ft) long Mt. Tourmaline Newcastlemax ore carrier was built by Eastern Pacific Shipping in China and stopped off in Singapore to take on LNG fuel. It will next head to Port Hedland in Western Australia to load iron ore that will then be shipped to customers in China.

Feb 07  - Europe's carbon price nears the 100 euro milestone
The price of permits in the European Union's carbon market closed at a record high above 96 euros on Friday, with analysts expecting the symbolic 100 euro level could soon be breached. Known as the EU emissions trading system (ETS), Europe's carbon market compels factories, power plants and airlines to pay for each tonne of CO2 they emit - the higher the permit price, the greater the cost of producing planet-warming emissions, although some receive free permits to help them stay cost competitive in global markets.

Feb 07  - Biden admin eases Trump-era solar tariffs but doesn't end them
U.S. President Joe Biden extended Trump-era tariffs on imported solar energy equipment by four years on Friday, but in a major concession to installers he also eased the terms to exclude a panel technology dominant among big U.S. projects. The decision represented a balancing act by the Biden administration to meet the demands of two important political constituencies: union labor which supports import restrictions to protect domestic jobs, and clean energy developers keen to access cheap overseas supplies.

Feb 04  - Japan will consider ways to help LNG market if supplies disrupted
Japan, a key importer of liquefied natural gas (LNG), will consider ways it can help the international community in the event of the Ukraine crisis disrupting supplies, Industry Minister Koichi Hagiuda said on Friday. He declined to confirm media reports that the United States had asked Japan if it could divert some of its LNG imports to Europe if Russia were to cut supplies, saying: "We can't comment on our diplomatic exchange."

Feb 04  - Britain scrambles $12 billion to soften 54% household energy price blow

Energy prices for millions of Britons will soar from April after a 54% hike to the regulatory price cap, forcing the government to stump up 9 billion pounds ($12 billion) of fresh support for already cash-strapped households. Responding to the record global gas prices that have sent almost 30 British energy suppliers to the wall, regulator Ofgem said the cap on the most widely used tariff would rise to 1,971 pounds a year from April, the same month that taxes rise.

Feb 03  - Russia warns of power price spike if energy transition is hasty
A rushed transition away from fossil fuels risks driving electricity prices higher, a senior Russian official said on Wednesday, responding to German government comments that an EU carbon tax may make renewables more attractive in Russia. Russian Deputy Energy Minister Pavel Snikkars said Russia was ready to support global efforts against the negative consequences of climate change but said any push to renewables should be gradual.

Feb 03  - Blow to Gazprom critics as EU court upholds antitrust settlement

Gazprom's critics suffered a blow on Wednesday when the European Union's second highest court upheld a 2018 decision that let the Russian gas giant settle a long-running antitrust investigation without paying a fine. The European Commission, the EU's competition enforcer, in 2018 accepted Gazprom's concessions, which included a pledge to reform its pricing structure and allow rivals a foothold in eastern Europe. That allowed the company to avoid a fine that could be as much as 10% of its global turnover.

Feb 02 - Europe remains top destination for U.S. LNG for second month running
Europe last month remained the top destination for shipments of U.S. liquefied natural gas (LNG), according to Refinitiv data, outpacing exports to Asia for the second month in a row. About two-thirds of U.S. LNG volumes went to Europe last month, compared to around 61% in December when sky-high European prices and demand drove U.S. LNG exports to a record, Refinitiv data showed.

Feb 02 - Qatar says it cannot unilaterally replace Europe's gas needs in case of shortage
Qatar, one of the world's top natural gas exporters, will not be able to unilaterally replace Europe's energy needs in case of a shortage due to the crisis between Russia and Ukraine, the emirate's minister of state for energy said on Tuesday. “The volume of gas needed by the EU cannot be replaced by anyone unilaterally, without disturbing supplies to other regions around the world," the minister, Saad Sherida Al-Kaabi, said in a statement.

Feb 01 - Qatar seeks EU guarantees emergency gas stays within EU – source 

Qatar has told the European Union the bloc would need to restrict the resale of gas outside the EU so major suppliers can provide gas in case of a Russia-Ukraine conflict and prevent a short-term crisis, a person briefed on the talks said. The Gulf Arab state says it is also necessary to resolve a long-running EU probe into Qatar’s long-term gas contracts, for the EU to be less dependent on spot sales and more on long-term contracts to boost its energy security, the person added. 

Feb 01 - India shows early signs of high coal, LNG, crude prices hurting demand: Russell 

One of the key questions for the outlook for energy commodities is how quickly the current high prices translate into demand destruction. While this will vary from country to country, India is perhaps something of the canary in the coal mine, as the South Asian giant tends to be more price sensitive than many other major commodity buyers in Asia, the world's top importing region.

Jan 31 - European gas demand seen falling this year due to cheaper coal - IEA 

European gas demand is expected to decline this year as continued high prices make coal more competitive for power generation, while Asian demand growth could slow, the International Energy Agency (IEA) said on Monday. Last year, European gas consumption increased by an estimated 5.5% to 552 billion cubic metres (bcm).

Jan 31 - German finmin backs early end to green energy levy 

Germany may scrap a levy on electricity bills that is used to support renewable power from the second half of the year, to ease the strain of rising energy costs on households, Finance Minister Christian Lindner was quoted as saying on Sunday. Germany's three ruling parties had planned to abolish the EEG surcharge on electricity bills from Jan. 1, 2023, but Chancellor Olaf Scholz may have to act sooner given the surge in costs.

Jan 28  - Japan's Suiso Frontier sets sail for Kobe with liquid hydrogen cargo
The cargo is seen as a crucial pilot shipment for what in future could be regular flows of low- or zero-carbon hydrogen from Australia to the higher-priced demand center of Japan.

Jan 28 - Global coal prices surge as Ukraine tensions worsen supply woes 

Global coal prices have shot back towards record highs as the Ukraine crisis raises expectations that European buyers will start loading up on the fossil fuel for fear that a standoff between Russia and western nations will cut off gas supplies. The benchmark Newcastle coal index has soared by over a third this month to $262 a tonne, fuelled initially by a month-long export ban by top supplier Indonesia and now by worries that any military engagement in Ukraine will sever gas supplies from Russia.

Jan 28 - BP hires Orsted executive as it restructures renewables 

BP has hired an executive from Danish wind power firm Orsted to head a new offshore wind division as the British energy company restructures its renewable businesses to help drive its transition away from fossil fuels. Matthias Bausenwein, who stepped down on Jan. 20 as president for Asia Pacific for Orsted, the world's largest offshore wind farm developer, will join BP in the second half of 2022, the British company said in a statement to Reuters.

Jan 27 - Britain to give EDF’s Sizewell C nuclear project $135 mln support 

Britain will give 100 million pounds ($135 million) of support to France’s EDF to help it build the Sizewell C nuclear plant in Suffolk, England and encourage new investors in the project, the government said on Thursday. Britain aims to reach net zero emissions by 2050, which will require a huge increase in low-carbon power generation such as wind, solar and nuclear, but new nuclear projects have struggled to secure funding due to the large up-front costs.

Jan 27 - Investor clash on gas and nuclear muddies EU green finance drive 

European efforts to reach a common definition of sustainable investments risk fragmenting the market they aimed to unify, as investors are deeply divided over which energy sources should count as green. A Reuters survey of 16 fund managers with $6 trillion in assets found investors were at odds over Brussels' plan, drafted at the end of last year, to class investments in some natural gas and nuclear power as environmentally sustainable.

Jan 26  - UK carbon price hits fresh high on strong fundamentals
UK Allowance futures contracts for December 2022 delivery on the ICE Futures Europe exchange rallied as high as GBP81.25/mt ($109.40/mt) intraday Jan. 25, compared with GBP78.86/mt at the close Jan. 24.

Jan 26 - Chevron aims to grow, not shrink, oil and gas volumes during energy transition: VP
Chevron will aim for a balance of growing its oil and gas production, but with fewer emissions, while continually investing in more "new energies" solutions ranging from carbon capture projects to hydrogen to renewable fuels, a corporate vice president said Jan. 25.

Jan 26 - U.S. in talks with energy producers to supply Europe if Russia invades Ukraine 

The United States is in talks with major energy-producing countries and companies around the world over a potential diversion of supplies to Europe if Russia invades Ukraine, senior Biden administration officials said on Tuesday. Speaking to reporters on a call, the officials did not name the specific countries or companies they were in talks with to ensure an uninterrupted energy flow into Europe for the remainder of the winter, but said they included a broad range of suppliers, including sellers of liquefied natural gas (LNG).

Jan 26 - Analysts raise EU carbon price forecasts as gas rally persists 

Analysts have raised their European carbon market average price forecasts in response to persistently high gas prices that encourage electricity generators to use more polluting coal-fired power and increase demand for carbon permits. EU Allowances (EUAs) are expected to average 84.14 euros a tonne in 2022 and 91.71 euros in 2023, a Reuters survey of seven analysts showed.

Jan 25 - UK government commits 32 mln pounds for floating wind projects 

The British government said on Tuesday it will commit nearly 32 million pounds ($42 million) to fund the development of floating offshore wind projects to help lessen its dependence on gas, the price of which has increased sharply. The 31.6 million pounds of funding will be matched by a further 30 million pounds from industry to accelerate renewable energy deployment, the government added.

Jan 25 - Indonesia's coal ban sends prices soaring, other exporters fail to step up: Russell 

Indonesia's short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to last beyond the initial shortage of available cargoes. The short-term impact of the sudden ban announced on Jan. 1 by the world's largest exporter of the polluting fuel was to send prices for cargoes from other major shippers soaring back toward last year's record highs.

Jan 24 - Advisers to slam EU plan to label gas, nuclear investments as green - draft 

Experts advising the European Union on its green investment rules will warn Brussels not to go ahead with draft plans to label gas and nuclear energy as sustainable, according to a document seen by Reuters. The advisers are due to give feedback on Friday to the European Commission on its draft plan for the EU's "sustainable finance taxonomy", a list of economic activities that can be labelled as green investments.  

Jan 24 - Germany mulls scrapping energy bill surcharge early as prices rise 

The German government may scrap this year a surcharge on electricity bills used to support renewable power, to ease the strain of rising energy costs on millions of households, Social Democrat (SPD) co-leader Lars Klingbeil said on Saturday. Germany's three ruling parties agreed in their coalition deal presented in November to abolish the so-called EEG fee on electricity bills from Jan. 1, 2023.

Jan 21 - China sets targets for new energy vehicles in commercial transport in 5-year plan
Green transportation plan sets a carbon intensity reduction target of 5% and 3.5% for commercial vehicles and ships respectively by 2025.

Jan 21 - Siemens Energy cuts outlook as fresh problems emerge at wind unit  

Siemens Energy on Thursday cut its outlook after wind division Siemens Gamesa warned of prolonged supply chain issues, renewing pressure on the German firm to fully take over the unit in order to get a better handle on its problems. Siemens Energy, which owns 67% in Siemens Gamesa, said it now expects a margin on adjusted earnings before interest, tax and amortisation (EBITA) before special items in a range of 2% to 4% in 2022, down from 3% to 5% previously.

Jan 21 - Moldova introduces state of emergency in energy sector 

Moldova's parliament on Thursday approved the government's request to declare a state of emergency in the energy sector, allowing it to divert funds to pay for gas supplied by Russia's Gazprom. Energy importer Moldovagaz said later it had paid its January gas advance to Gazprom, a day after the government said the Russian group had rejected its request to reschedule the payment.

Jan 20 - EU beats 2020 renewable energy goal, France lags behind - Eurostat 

The European Union tapped renewables for 22% of its energy consumption in 2020, beating its 20% target, the EU statistics office said on Wednesday. The bloc's 27 countries are increasingly turning to wind, solar and other renewable energy sources as part of efforts to meet the EU-wide ambition of net-zero greenhouse gas emissions by 2050. 

Jan 20 - Governments no match for markets in European energy crunch 

European governments have spent tens of billions of euros trying to shield consumers from record high energy prices, and themselves from voters' wrath, but the measures look set to fall short. From Athens to Oslo, lawmakers across Europe, some facing elections this year, have scrambled initiatives such as removing VAT on home energy bills or providing targeted help for the most needy households.

Jan 19 - Euro zone consumers in for a shock as power bills soar 

In 2020, euro zone households spent an average of 1,200 euros on electricity and gas. That figure is set to swell to 1,850 euros this year, according to analysts at BofA, as geopolitical tensions push up natural gas prices which the scarce supply of energy from renewable sources cannot offset. 

Jan 19 - Grid operator Amprion says power supply gaps can be plugged 

German high-voltage grid operator Amprion on Tuesday said it was not too late to build enough gas-to-power plants to help Germany manage its transition towards renewables and plug supply gaps after nuclear and coal plants are switched off. Amprion, one of the country's four transmission grid firms (TSO) in which utility RWE holds a 25% stake, said claims by some in the industry that up to 40 gigawatts (GW) of gas-fired plants were required up to 2030 were exaggerated.

Jan 18 - MPC Capital orders methanol-ready container ships to tackle carbon footprint
Platts Analytics expects that between the 2030 and 2050 milestones, the fleet orderbook will shift rapidly to alternative fuels and toward the end of that period ammonia will account for 20% of the order book, hydrogen for 5%, methanol for 25%, biofuel for 10% and LNG for 40%.

Jan 18  - Fast-growing India gets help from IRENA in renewable energy, green hydrogen push
With a rising population and rapid economic growth, India's decarbonization efforts are seen as critical to managing global climate change.

Jan 18 - Scottish wind sale nets nearly $1 billion with Shell, BP among winners 

BP, Shell and utility Iberdrola were among the winners of seabed rights to develop Scottish offshore wind projects, in an auction which raised nearly 700 million pounds ($958 million) for public spending. Competition for offshore wind sites has intensified as governments and investors have woken up to the urgency of cutting carbon emissions, with oil majors making high bids.

Jan 18 - French power policy shift has left EDF in shock, CEO says 

The CEO of EDF on Monday broke with the convention that bosses of French state companies don't criticise the government to express "real shock" and indignation after the utility was told to sell more power to rivals at below-market prices. In a memo to managers seen by Reuters, Jean-Bernard Levy said he had tried to persuade ministers to adopt a different course, and was now looking at steps to defend EDF's interests. 

Jan 17 - U.S. talks to energy firms over EU gas supply in case of Russia-Ukraine conflict - sources 

The U.S. government has held talks with several international energy companies on contingency plans for supplying natural gas to Europe if conflict between Russia and Ukraine disrupts Russian supplies, two U.S. officials and two industry sources told Reuters on Friday. The United States is concerned Russia is preparing for the possibility of a new military assault on the country it invaded in 2014.

Jan 17 - China coal output hits record in Dec and in 2021 - stats bureau  

China's coal output hit record highs in December and in the full year of 2021, as the government continued to encourage miners to ramp up production to ensure sufficient energy supplies in the winter heating season. China, the world's biggest coal miner and consumer, produced 384.67 million tonnes of the fossil fuel last month, up 7.2% year-on-year, data from the National Bureau of Statistics showed on Monday.

Jan 14 - Emissions, prices set to rise with global power demand - IEA 

Additional global electricity demand over the next three years could result in market volatility and high emissions unless there are faster structural changes, the International Energy Agency said in a report on Friday. Global electricity demand rose 1,500 terawatt hours (TWh) in 2021, up 6% year-on-year, the largest percent gain since the global financial crisis recovery in 2010 and the largest total rise on record, the report said.

Jan 14 - EDF hit by cap on power prices, nuclear reactor closures 

The French government said on Thursday that it had ordered state-owned utility EDF to sell more of its cheap nuclear power to smaller competitors in order to limit the increase of electricity prices in France.  EDF said the measure could cost it up to 8.4 billion euros and dropped its earnings guidance, while the utility also lowered its nuclear production forecast after technical problems forced it to extend the outage of a fifth nuclear reactor.

Jan 13 - Biden's 2030 economywide emissions target attainable if done in 'right way': EPRI
Optimism for President Joe Bidens goal of reducing economywide emissions 50% from 2005 levels by 2030

Jan 13 - EDF announces new delay and higher costs for Flamanville 3 reactor

France's Flamanville 3 reactor will cost 300 million euros more than forecast and fuel loading is being pushed back by up to six months, EDF said on Wednesday, in the latest setback for a project already running more than a decade late. EDF now estimates the total cost of the project at 12.7 billion euros ($14.42 billion). Its expected cost has more than quadrupled from the first estimate made in 2004. 

Jan 13 - U.S. to hold record offshore wind auction next month in clean energy push

President Joe Biden's administration on Wednesday said it would hold the U.S. government's biggest ever offshore wind auction next month for areas in waters off the coast of New York and New Jersey, part of a range of measures it unveiled to speed growth of clean energy. "We're at an inflection point for domestic offshore wind energy development," Interior Secretary Deb Haaland said on a call with reporters. "We must seize this moment."

Jan 12 - German utility STEAG secures extra credit to weather volatile energy prices 

German utility STEAG has secured at least 100 million euros ($113 million) in extra funding to shield it from skyrocketing prices, it told Reuters, as volatile energy markets force some companies to shore up their finances. STEAG, Germany's fifth-largest utility, said it needed funding in the "low triple digit million euro range" due to price volatility, which it has secured from partners.

Jan 12 - ICE hosted record number of carbon permit trades in 2021 

Intercontinental Exchange (ICE) saw a record number of trades of carbon allowances in 2021, up almost 30% on the previous year, it said on Tuesday. Regions such as Europe and parts of the United States, including California have set up emission trading systems (ETS), putting a price on carbon dioxide emissions as part of their efforts to cut greenhouse gas emissions and meet climate targets.

Jan 11 - Indonesia coal shares up, China futures fall as export ban eased 

Shares of big Indonesian coal companies rose on Tuesday after authorities relaxed an export ban brought in this year, even as vessels loaded with the fuel had yet to leave ports in the world's biggest thermal coal exporter. In the first clear step to relax the export ban, Indonesia late on Monday agreed for 14 coal vessels to depart as soon as they got permits from mining and transport authorities.

Jan 11 - EU delays deadline on green investment rules for nuclear and gas  

The European Commission said on Monday it has delayed to later this month the deadline for experts to give feedback on divisive plans to allow some natural gas and nuclear energy projects to be labelled as sustainable investments. The Commission drafted a plan late last year to add some gas and nuclear investments to the European Union's "taxonomy," its rule book to define which investments can be labelled as climate-friendly in the EU.

Jan 11 - U.S. gas stocks normalise, warm winter accommodates exports to Europe: Kemp 

U.S. natural gas stocks returned to normal by the end of last year as a result of an exceptionally mild start to the heating season and high prices, which encouraged coal-fired power generation rather than gas burning. Inventories depleted much more slowly than usual in the final two months of the year, erasing the storage deficit that had emerged between March and September, and lowering spot prices and calendar spreads.

Jan 10  - Chinese Carbon trade volume down 84% on week after first compliance period
Dec. 31 was the due date of China carbon market's first compliance period, and last week's trade volume totaled 28.07 million mtCO2e. The demand was driven companies needing to fulfill their compliance obligations by the due date. The market cooled after the first compliance period ended.

Jan 10 - Indonesia hopes to decide on coal export resumption in coming days - minister 

Indonesia's government is hoping to reach a decision on resuming coal shipments "in the coming days", its energy minister said on Monday, as pressure mounts on the world's biggest thermal coal exporter to end a ban imposed 10 days ago. "In the past week we have done stocktaking and we hope in coming days there will be more clarity so we can have coal security and resume exports," energy minister Arifin Tasrif said in a meeting with Japan's industry minister, Hagiuda Koichi, which was broadcast virtually.

Jan 10 - British Gas suggests VAT suspension on energy bills to help consumers 

British Gas, owned by Centrica, said on Friday it has not asked for government money to help weather ongoing energy price spikes, and suggested a suspension of value-added tax on energy bills and other measures to help consumers. Soaring wholesale prices for gas and power over the last year, and especially since the autumn, have caused the collapse of over 20 energy suppliers in the UK, with Centrica's retail business British Gas taking on customers from several of the failed companies.

Jan 07  - South Korea's move to label LNG as green fuel buys time for energy transition
South Korea depends on coal for around 40% of its electricity generation, while LNG-fired power plants are responsible for around 25% and nuclear reactors around 30% of demand, with the remaining coming from renewables.

Jan 07  - EU lawmaker wants carbon border charge to cover hydrogen: draft report
The proposals by the parliament's rapporteur on the CBAM, Dutch lawmaker Mohammed Chahim, suggest the parliament could push for a broader carbon charge and an earlier phaseout of free carbon allowances for affected sectors under the EU Emissions Trading System.

Jan 07  - Inclusion of nuclear in EC sustainable power taxonomy boon for hydrogen: trade body
Countries that do not have ready access to renewable power generation will depend on other climate-neutral technologies in the interim to enable them to develop and use hydrogen in their energy systems, Hydrogen Europe CEO Jorgo Chatzimarkakis said in an interview.

Jan 07 - Gas gap in Europe drives U.S. LNG exports to record high 

Sky-high European demand drove U.S. liquefied natural gas (LNG) exports to a record in December, Refinitiv data showed, with winter supply worries set to sustain orders for the fuel.  About half of the record U.S. LNG volumes shipped last month went to Europe, up from 37% earlier in 2021, data from Refinitiv and the U.S. Energy Information Administration showed. 

Jan 07 - France sees new nuclear reactors going online by 2035-37 - minister 

The French government expects plans for new nuclear reactors should be submitted around 2023 with a target date of 2035-37 for the reactors to go online, junior environment minister Berangere Abba was quoted as saying in French daily Le Figaro.  She said the new reactors would be EPR2 models, improved versions of utility EDF's troubled EPR model, which has suffered years of delays and billions of euros of cost overruns on models under construction in France and Finland.

Jan 06  - China's carbon market to expand, build capabilities in 2022
The urgency of climate goals means that China may not have the decades needed for its carbon market to fully mature like the European ETS, that took many years to evolve after being launched in 2005.

Jan 06 - Uniper secures $11 bln of credit to cope with gas volatility 

German utility Uniper has secured credit facilities worth up to 10 billion euros ($11 billion) from parent Fortum and state bank KfW in a move to cope with unprecedented volatility in energy markets, it said. Uniper, in which Finland's Fortum owns more than 76%, said as part of the measures it had also drawn 1.8 billion euros of credit facilities from its core banks, which it said late on Tuesday was the full amount.

Jan 06 - Coal-dependent Indonesia starts tapping huge solar power potential 

With a patchy track record on renewables, Indonesia's energy mix is still heavily dependent on coal but if early signs of a jump in the take up of solar are sustained, it could have a transformative impact on Southeast Asia's biggest economy.  Despite being a tropical archipelago of 17,000 islands blessed with year-round sunshine, Indonesia ranks last for solar power capacity among the G20 nations.

Jan 05 - Gas prices surge in Europe over tight Russian supplies 

European gas prices soared more than 30% on Tuesday after low supplies from Russia reignited concerns about an energy crunch as colder weather approaches. A pipeline which normally delivers gas from Siberia to Europe was sending flows from Germany to Poland on Tuesday for the 15th successive day, instead of the usual westward flow into Europe.

Jan 05 - German households feel the heat from rising power and gas bills 

Some 4.2 million German households will see their electricity bills rise by an average 63.7% this year and 3.6 million stand to pay 62.3% higher gas bills as suppliers pass on record wholesale rates, data showed on Tuesday. Like many countries across the world, Germany has been in the grip of an energy crisis since last year, when the lifting of COVID-19 restrictions put huge demands on depleted stocks of natural gas, sending prices of gas, related commodities and carbon emission permits to their highest in years.

Jan 05 - Farming for the climate: Off-season 'cover' crops expand as U.S. growers eye low-carbon future 

More and more U.S. farmers are planting cover crops, from grasses like rye and oats to legumes and radishes. While some are converted into biofuels or fed to cattle, most are not harvested because their value is greater if they break down in the soil.

Jan 04  - Denmark's Port of Hanstholm and European Energy to develop green hydrogen
The Port of Hanstholm in Denmark has signed a letter of intent with Danish renewables company European Energy to develop solar and wind plants and a renewable hydrogen project, they said Jan. 3.

 Jan 04  - US LNG Gulf Coast Marker falls as European prices move downward
US Gulf Coast FOB cargo values slid during the holiday shortened week of Dec. 28-Jan. 4, tracking the decline in prices in destination markets.

Jan 04 - EU denies trying to 'bury' green investment plan with Dec. 31 release 

The EU's executive on Monday rejected suggestions it waited until New Year's Eve to publish divisive proposals to allow some natural gas and nuclear energy projects to be labelled as sustainable, saying "we weren't trying to do it on the sly". The Commission's decision to include gas and nuclear investments in the European Union's "sustainable finance taxonomy" rules was circulated in a draft proposal late on Dec. 31 and leaked to some media organisations.

Jan 04 - High prices trigger January UK carbon market intervention threat 

A mechanism designed to curb costs in Britain's carbon emissions trading scheme (ETS) has been triggered for January for a second month in a row. The so-called cost containment mechanism (CCM) was triggered after monthly average UK ETS carbon prices in October, November and December exceeded the January trigger price of 56.58 pounds ($76.41) per tonne, the scheme's administrator said late on Friday.

Jan 03 - Shares of Indonesia coal miners drop as export ban rattles sector 

Shares of Indonesia's leading coal miners fell on Monday after the government banned exports of coal for January due to concerns about low supplies triggering power cuts in the world's biggest exporter of thermal coal. The decision is likely to send shockwaves through global markets since the Southeast Asian country exported around 400 million tonnes in 2020. Its biggest customers are China, India, Japan and South Korea. 

Jan 03 - Germany welcomes EU 'green' energy plan on gas, still opposes nuclear 

Germany on Sunday welcomed a plan by the European Union to label some natural gas energy projects as "green" investments, but stressed its opposition to a proposal to do the same for nuclear power projects. Germany pulled the plug on three of its last six nuclear power stations on Friday as it moves towards completing a withdrawal from nuclear power that it sped up after the meltdown of a reactor in Fukushima, Japan, in 2011.

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."