IEA Predicts World Oil, Gas Demand Could Grow Until 2050
Global oil and gas demand could grow until 2050, the International Energy Agency said on Wednesday, departing from previous expectations of a speedy transition to cleaner fuels following U.S. criticism about its climate focus.The Paris-based energy security watchdog also predicted in its annual outlook that the world will likely fail to meet its goal to cap the rise in temperatures to as close as possible to 1.5 degrees (2.7 degrees Fahrenheit) above pre-industrial times to avoid the most devastating effects of climate change.The IEA has been under pressure from the U.S.
Sponsored: Record Deals and Record Attendance Underscore ADIPEC’s Global Impact
Record-breaking 239,709 attendees from 172 countries gathered at ADIPEC 2025, reaffirming UAE’s convening power and its role as a global hub for energy, partnerships and innovation. ADIPEC 2025 generated an estimated US$400 million in economic benefits for Abu Dhabi’s economy, particularly across the hospitality, tourism and transport sectors. Expanded AI Zone and dedicated industry areas showcased the role of AI, digitalisation, decarbonisation, chemicals and low-carbon solutions in advancing energy resilience. 45+ ministers and policymakers…
Sponsored: Energy and Finance Chiefs Call for Sound Policy, Stable Frameworks at ADIPEC
Global finance leaders discuss the new era of energy investment defined by pragmatism, diversification and strategic capital allocation Industry leaders urge fundamentals-based planning amid global volatility, with stable, sound and clear policy frameworks identified as key investment landscape criteria Liquefied natural gas, methane and carbon reduction innovations and emerging markets identified as key investment frontiers Organisations whose speakers shared finance insights at ADIPEC 2025 included Moeve, The World Bank Group…
Sponsored: Energy Sector Urged to Scale AI Adoption at ADIPEC
Day two's theme 'The Technology Leap: Redefining Energy Leadership' underscored how strategic AI adoption and digital innovation are reshaping energy leadership, with industry voices calling for coordinated investment to unlock transformation at speed and scale Experts debated AI’s role in boosting efficiency, enhancing resilience and unlocking investment while addressing the balance between AI’s potential and its impact on energy demand Key speakers included Jack Hidary CEO, SandboxAQ; Dr. Guy Diedrich, Chief Innovation Officer…
Sponsored: Policy, AI, and Capital Take Center Stage at ADIPEC 2025
ADIPEC 2025 kicks off in Abu Dhabi with a powerful message from Dr. Sultan Al Jaber for a balanced and inclusive approach to meeting energy demand, built on reinforcement, not replacement. Opening addresses and high-level sessions featuring CEOs and ministers spotlighted the importance of embracing all energy sources, all technologies, and all systems that enhance energy resilience and provide the world with prosperity for all. Day 1 highlights included discussions on the convergence of energy and artificial intelligence…
Woodside Energy predicts that sales will increase by 50% by the year 2032
Meg O'Neill, CEO of Woodside Energy, said that the company expects to see its oil and gas sales increase by 50% in 2032, primarily due to rising energy demand, especially on Asian markets. O'Neill stated in a presentation at the Capital Markets Day of the company that sales would rise from 203.5 million barrels equivalents per year to 300 million in seven years. The presentation indicated that this is a 6% annual increase in sales. The company aims to generate $9 billion in free cash flow by the year 2032. O'Neill stated that despite forecasts indicating LNG export overcapacity in the next decade…
Sponsored: UAE Breaks Ground on GW-Scale Renewable Energy Hybrid
In line with the vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, world-first project reaffirms UAE’s leadership position in clean energy, directly addressing intermittency of renewables. Project will reimagine potential of renewable energy, delivering 1GW of baseload power at a globally competitive tariff, establishing a blueprint for future international deployments.Masdar and EWEC are deploying the largest and most technologically advanced system of its kind in the world.Project will help power UAE’s AI revolution while creating over 10…
Oil Prices Slip, Pressured Over Global Supply Glut
Oil prices fell by nearly 2% on Monday, pressured by worries over a global glut as U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand.Brent crude futures were down $1.06, or 1.7%, at $60.23 a barrel as of 1312 GMT, while U.S. West Texas Intermediate futures fell $1.03, or 1.8%, to $56.51.Oil traders' concerns have shifted from under-supply to over-supply, the futures contract structure of the global benchmark Brent showed.The six-month spread for Brent shows contracts for earlier loading are trading below those for later loading…
Maguire: Italy's economic troubles have an upside for the moment, a positive climate.
The persistent economic crisis in Italy has led to the lowest emissions in its power sector for decades. Climate activists need to be aware that economic measures could cause a rapid U-turn on pollution trends. Italy has been experiencing economic stagnation for over a decade. This has resulted in a steady decline of goods produced and exported, and lowered power consumption among many businesses. The lower power demand by industry allowed Italy's utilities, which were once a nation that ranked among the top 10 polluting nations, to reduce fossil fuel-fired electricity output and to cut power sector emission to historic lows.
Maguire: Italy's economic troubles have an upside for the moment, a positive climate.
The persistent economic crisis in Italy has led to the lowest emissions in its power sector for decades. Climate activists need to be aware that economic measures could cause a rapid U-turn on pollution trends. Italy has been experiencing economic stagnation for over a decade. This has resulted in a steady decline of goods produced and exported, and lowered power consumption among many businesses. The lower power demand by industry allowed Italy's utilities, which were once a nation that ranked among the top 10 polluting nations, to reduce fossil fuel-fired electricity output and to cut power sector emission to historic lows.
NGSA: US natgas production to reach record levels this winter
According to the Natural Gas Supply Association’s Winter Outlook 2025-2026, U.S. Natural Gas production will reach record levels this winter. This will help meet domestic demand and a growing liquefied gas export market. This winter, the U.S. Natural Gas Market faces a balance act: increasing supply versus growing demand. The NGSA stated that while production and storage is strong, wildcards could cause price pressure. The total gas demand for this winter is expected to increase by 4,2 billion cubic feet per days (bcfd), mainly due to LNG exports which will rise by 3,8 bcfd, as new liquefaction capacities come online. NGSA predicts U.S.
Industry official: Japan will start planning floating wind testing centre next year
A senior industry official announced that Japan will begin planning for a floating national wind test centre in 2019. The official vowed to continue on the path of wind energy growth despite recent setbacks, such as Mitsubishi quitting three projects. Last month, Mitsubishi-led consortiums dropped plans to build three offshore windmills that won Japan's first large state auction in 2021. This was a blow for the sector which is seen as crucial to reducing dependence on imported fuels. In a Tuesday interview, he said that the association would discuss functions and equipment. He also stressed the need for such a center to the government.
German industry lobby warns energy transition could cost 5.4 trillion euros by 2049
The German Chambers of Industry and Commerce said that the current German energy transition strategy would cost up to 5.4 trillion euro ($6.3 trillion) in 2049. This could be a heavy burden on businesses and households, and reduce their competitiveness. Berlin wants to achieve climate neutrality by 2045 by covering 80% of its energy needs with renewable sources by 2030. Electricity prices are among the highest in Europe despite the strong growth of wind and solar power in recent years. With the current policy the energy transition will not succeed.
Asian Spot LNG Prices Decline, Weak Demand Amidst Sanctions
Asian spot liquefied natural gas (LNG) prices declined this week due to weak demand and as markets awaited further clarity on U.S. Russian energy sanctions or secondary tariffs.The average LNG price for September delivery into north-east Asia LNG-AS was at $11.90 per million British thermal units (mmBtu), down from $12.10/mmBtu last week, industry sources estimated.Spot global gas prices have been relatively rangebound since the start of summer gas season in April, with a brief spike during the Iran strikes in June…
India's MCX launches electricity futures to hedge against weather-driven demand changes
The Multi Commodity Exchange in India will launch India's first electricity contracts on Thursday. This tool allows power generators, distributors and large industrial users to manage their risk. MCX announced in a Tuesday statement that the exchange would initially offer cash-settled contract for the current three-month period and for the next three months. However, they will be made available thereafter for all twelve calendar months. Praveena Rai, the managing director of the exchange, said that the goal was to meet the needs of the sector, deepen the energy markets and support sustainable market-driven pricing.
Senate bill still deals a big blow to renewables despite last-minute amendments
Industry advocates and legislators said that the massive U.S. Senate budget bill passed on Tuesday would make it more difficult to develop solar and wind energy projects despite the removal some controversial provisions. After last-minute talks with Republican senators who wanted better terms for renewable energy, the Senate dropped its proposed excise taxes on solar and wind projects that didn't meet strict criteria. Iowa Senator Joni Ernest, Iowa Senator Chuck Grassley, and Alaska Senator Lisa Murkowski - whose votes were critical to the bill's passing - had proposed an amendment that called for the removal of this tax.
Report: Global CO2 emissions in energy reached record levels last year
The Energy Institute's Annual Statistical Review of World Energy showed that global carbon dioxide emissions in the energy sector reached record levels for the fourth consecutive year last year, as fossil fuel consumption continued to rise even as renewable energy also hit record highs. The figures in the report highlight the difficulty of weaning the world economy away from fossil fuels, especially at a moment when the conflict in Ukraine has disrupted oil and gas supplies coming from Russia. And fighting in the Middle East is raising concerns about the security of supply.
Japan returns to long term LNG deals on AI boom and national energy plan
The liquefied gas industry in Japan is once again in the spotlight, as artificial intelligence booms and rising costs of cleaner energy drive the appetite for long-term LNG contracts. Japan, which is the second largest LNG importer in the world, has secured long-term deals with Qatar, and other buyers are also securing such agreements. Japan's LNG exports have been falling for over a decade, as the nuclear power plants that were idled following the Fukushima catastrophe began to operate again and renewable energy sources increased. The AI boom will require enormous power consumption from data centres.
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 stated that the high cost to acquire gas turbines and a shortage in construction workers, along with the tariff costs, will make it take seven years or more to bring new gas-fired plants online. Ketchum stated that "we need a bridge in order to get to 2032, when the gas will be available...
Prices for gas in Europe are little changed despite maintenance in Norway and higher wind forecast
Dutch and British wholesale prices of gas were not much different on Monday morning. The gas balance was tightened due to maintenance in Norway but higher wind output is forecast. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell by 0.12 euro to 36.15 Euro per megawatt hour at 0844 GMT. The British day-ahead contract was flat, at 85.70 cents per therm. Gas Infrastructure Europe reports that EU storage inventories are 50.97% full. The consultancy Auxilione stated in a daily report that…