Electricity Needs for AI, Data Centers May Turn LNG Glut into Gap by 2030
Growing electricity demand from AI and data centres, together with rising fuel use in Asia and European gas needs could turn an expected global liquefied natural gas supply glut into a shortage by 2030, Qatar Energy CEO Saad al-Kaabi said on Monday.LNG coming online between 2026 and 2029 has raised concerns of a supply glut that could depress prices, with projects like Golden Pass LNG on the U.S. Gulf Coast and Qatar's North Field Expansion expected to contribute sizeable volumes."We always thought the market would have some kind of oversupply between 2025-2030 (and) beyond 2030 you will have a shortage…
Vestas: US Import tariffs Will Raise Domestic Electricity Prices
President Donald Trump's import tariffs will ultimately result in higher electricity prices for U.S. consumers, wind turbine maker Vestas warned on Tuesday, adding it could not absorb the extra costs.Wind turbines include components and materials sourced globally, making the sector vulnerable to potential impacts from international trade tariffs."Ultimately, the tariffs will go in and be part of an increased cost to the projects and therefore it will lead to an increased price in electricity," Vestas CEO Henrik Andersen told Reuters.Denmark's Vestas…
China's Coal Production Rises, but the Share of Electricity Falls: Russell
China's coal production is increasing while its share in electricity generation is decreasing. This apparent contradiction will result in lower import volumes and cheaper prices.The National Bureau of Statistics released data on August 15 showing that the coal output in July was 2.8% higher than the same month one year ago, reaching 390,37 million metric tonnes.The output in July was lower than June's, which was 405,38 million tons. This was the highest monthly production so far in this year. July's production was the third highest monthly output so far in 2024.