NextEra CEO: Renewables are needed to bridge the gap between expanding gas power and increasing renewables
NextEra CEO John Ketchum said on Tuesday that renewable energy sources such as wind and solar power will be needed to meet the rapidly increasing energy demand in America, despite near-term challenges to increasing natural gas capacities. At the Politico Energy Summit, the head of Florida's power producer…
Metal industry group claims that new EU State Aid rules do not help
A metals industry group wrote a letter to the European Commission on Friday, saying that plans to overhaul state aid rules ignore heavy industry, which is critical for processing energy transition metals. They fail to mitigate energy costs, while green rules may penalise them. After a public hearing on its proposal from February…
Sources say Egypt is in talks with suppliers to purchase 40-60 LNG cargoes during this year due to the energy crisis.
Three sources familiar with the matter said that Egypt is in discussions with international energy companies and trading houses about buying 40-60 cargoes (LNG) of liquefied gas to ensure emergency fuel imports ahead of summer peak demand amid an worsening energy crisis. According to the latest available data from the Joint Organisations Data Initiative…
Deutsche ReGas Receives EU Funding for Baltic Sea Coast Hydrogen Project
Deutsche ReGas on Wednesday said it will receive 112 million euros ($126.97 million) worth of public grants from the European Union's Hydrogen Bank for a renewable hydrogen project at Lubmin on Germany's Baltic Sea coast.The grant comes under EU funding schemes to promote electrolysis processes that use carbon-free electricity to kick-start a local economy producing hydrogen as
Hoegh Evi signs a 10-year contract to supply floating LNG to Egypt amid an energy crisis
Hoegh Evi, a Norwegian company, has signed a time charter agreement for ten years with Egypt's EGAS, a state-owned gas firm, to deploy a FSRU (floating storage and regasification units) in the Port Sumed before the end of 2026. The country is scrambling to secure its gas supply amid mounting shortages at home.
Mexico's Pemex increased crude exports to Cuba in 2024 according to filings
According to a filing by the company, Pemex, the Mexican state oil company, increased crude shipments to Cuba last year by nearly 20% as Cuba's energy crisis worsened. Gasolinas de Bienestar, a Pemex affiliate, exported 20,100 barrels of crude oil per day and 2,700 bpd in oil products by 2024. This equates to a total of $600 million.
EU to publish plan in May to stop Russian gas and oil imports
After twice postponing the plan, the European Commission announced on Monday that it will unveil a more comprehensive strategy for phasing out Russian gas and oil imports in January. In response to Moscow's invasion of Ukraine in 2022, the EU has committed to stop using Russian fossil fuels before 2027.
Cuba is on track to install fifty solar parks by the end of this year, according to the Ministry
The Energy Ministry announced late Wednesday that Cuba was making progress with a China-backed project to install over 50 solar parks in this year, capable of producing more than 1,000 Megawatts. This comes just days after Cuba's outdated grid collapsed, leaving millions without power. Energy officials released the most detailed report on the progress of the plan…
German Gas Storage Group urges clarification on summer filling policy
Storage operators' group INES warned on Thursday that if the German government does not decide to fill up gas caverns in time for winter, there may be shortages. The ongoing discussions over the formation a new government and the fact that the summer prices are higher than the winter prices complicate the task.
Minister: Hungarian gas company will supply Transdniestria
Peter Szijjarto, the Hungarian foreign minister, said that a Hungarian trading company would provide natural gas to Transdniestria in Moldova after a request by Russia's energy ministry. Transdniestria residents, a tiny sliver run by pro Russian separatists on the border of Moldova and Ukraine, faced an…
Moldova names new Energy Minister
Dorin Dzungietu, a gas industry expert from Moldova, was appointed as the country's new Energy Minister by President Maia Sandu on Wednesday morning. He was sworn into office at the Presidential Office. Junghietu replaced Viktor Parlicov who was fired in December after failing to prepare for a possible stoppage…
Breakaway Moldovan Region claims it received gas supplies backed up by Russian loan
Separatist authorities announced on Friday that the pro-Russian Transdniestria region of Moldova, which is a breakaway region, has begun receiving gas under a Moscow loan. Transdniestrian leader Vadim Krsnoselsky stated in a Telegram statement that the Russian loan assistance as well as cooperation with Russia's Ministry of Energy made gas deliveries possible.
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices.
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices.
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices.
Norway will now focus on floating offshore wind turbines instead of the new bottom-fixed tender
Norway said that it will not be offering acreage for the development of bottom-fixed offshore farms when it announces its next tenders. Instead, it will focus on floating wind power options. The government has previously stated that it will offer new areas along the North Sea, bordering Denmark, suitable for installing turbines on seabeds.
If elected, German opposition leader promises to build 50 gas-fired energy plants
The t-online newspaper reported that the opposition leader Friedrich Merz has pledged to build 50 gas-fired plants if the conservatives win in the snap elections on February 23. In November, Germany's gas-fired electricity output jumped a record 79% from the previous month as utilities scrambled for a way…
Prices lower in Europe due to softer demand and higher renewables
Dutch and British wholesale prices of gas fell on Thursday, amid forecasts for higher wind and solar production and a softer demand. However, prices may be affected by changes in energy policy as Donald Trump assumes the U.S. presidency next week. According to LSEG, the benchmark front-month contract for…
Leader of Moldova’s separatist region visits Moscow to discuss gas crisis
Transdniestria, the news agency of Transdniestria, reported that on Tuesday the leader of Moldova’s Transdniestria region has traveled to Moscow to hold talks in order to resolve a crisis resulting from the suspension of Russian Gas deliveries. Transdniestria is experiencing widespread power outages since January 1, when Russia's Gazprom stopped gas exports.
Sources say that EU plans to allow gas price cap to expire
EU diplomats have said that the European Union will let its gas cap expire at the scheduled time of the month. This is a sign that the worst of Europe’s energy crisis, which began in 2022, has passed. After months of high energy costs caused by Russia's slashing of gas supplies after its invasion of Ukraine, Brussels introduced the first price limit in December of 2022.
