Energy Prices Jump After Iran Attacks Qatar LNG Plant
Energy prices surged on Thursday after Iran struck the world’s largest LNG complex, causing damage that Qatar said could take five years to repair, as the energy sector's worst fears about the war launched by the U.S. and Israel on Iran came true.QatarEnergy CEO Saad al-Kaabi told Reuters the state-owned gas company may have to declare force majeure on long-term contracts to Italy…
Cyprus targets gas exports in 2028, as the Mid East conflict increases supply tensions
Michael Damianos, the Energy Minister, said that Cyprus could start producing natural gas to?export by?2028. This would 'potentially? strengthen Europe's drive to diversify their energy sources, as the Middle East conflict tightens its focus on supply. The turmoil in the Gulf has raised concern about energy transits via chokepoints such as the Strait of Hormuz.
Japan's weakness on energy is brought to the forefront as Middle East crisis worsens, says REI chair
The chair of the Renewable Energy Institute stated that Japan must do more to reduce their reliance on fossil fuels after the Middle East conflict escalated and halted the tanker traffic through the Strait of Hormuz. This highlighted Japan's vulnerability to?geopolitical risk. Japan imports 95% of its crude oils and 11% of liquefied gas through the Strait.
Document shows EU is looking to reduce energy bills for industry
A document obtained by revealed that the 'European Union' is looking at energy?taxes and network charges, as well as?carbon _costs, to see if they can be used in short-term solutions for industries affected by high energy costs. Brussels is seeking quick fixes, after companies said they could not compete with their rivals from China and the U.S.
Hungary Accuses Ukraine of Plans to Disrupt National Energy System
Hungary's Prime Minister Viktor Orban accused Ukraineon Wednesday of planning to disrupt the Hungarian energy system, and dispatched troops to safeguard infrastructure, escalating a dispute that has undermined Europe's pro-Ukraine consensus.Hungary and Slovakia, whose leaders are outliers in the EU for maintaining relations with Moscow…
Maguire: Maguire, China's renewables boom has boosted it to a rare clean-capacity club.
In 2025, the world's largest polluter will have crossed a crucial energy transition threshold by installing more clean power than fossil fuel production capacity for the first. Global Energy Monitor data shows that China will have 1,494 gigawatts (GW) of clean energy generation capacity operating in 2025. This compares to 1,420 GW?of fossil fuel-fueled capacity.
Maguire: Maguire, China's renewables boom has boosted it to a rare clean-capacity club.
In 2025, the world's largest polluter will have crossed an important energy transition threshold by installing more clean power generation capacity than fossil fuel generation capacity. Global Energy Monitor data shows that China will have 1,494 gigawatts (GW) of clean power generation in operation by 2025. This compares to the?1,420-GW capacity powered by coal, gas, and other fossil fuels.
Ukraine needs an energy ceasefire, says top power executive
The head of Ukraine's biggest private power producer said that the country is on the verge of a "humanitarian disaster" due to Russian airstrikes against energy systems. Any future peace agreement must include an end to attacks on energy infrastructure. Maxim Timchenko said that Russia, which invaded Ukraine in full force almost four years ago…
Chevron has approved the expansion of Israel’s Leviathan Gas Field
Chevron has made a final decision to invest in expanding production at Israel's Leviathan gas field. The oil major announced on Friday that it has made a final investment decision to expand production?at Israel's Leviathan natural gas field,?the?U.S. Leviathan is one of the largest gas fields in the Eastern Mediterranean and the cornerstone of Israel’s energy system.
Centrus receives $900 Million DOE Task Order as US pushes for domestic uranium enrichment
The U.S. Department of Energy has awarded a $900 million task order to Centrus Energy, a nuclear fuel supplier based in the United States, to increase uranium enrichment capacity at the Piketon site, Ohio. This is part of Washington's efforts to reduce its reliance on Russian supplies. The award is part of a $2.7 billion…
Kyivstar, Ukraine's largest mobile network operator, purchases solar power plant for increased resilience
Kyivstar, Ukraine's mobile operator, announced on Tuesday that it has?acquired? solar power company Sunvin 11?as it steps up energy investments to keep its network running amid Russian attacks against the country's grid. Kyivstar is Ukraine's largest mobile operator, which offers digital?healthcare, entertainment and other services.
Prices to rise on Monday due to wind power
European electricity prices will likely fall dramatically on Monday as wind power production is expected to increase in Germany and other parts of the region. LSEG data revealed that German -and French Monday baseload electricity contracts were not traded by?0859 GMT Friday. LSEG data shows that German wind power production is expected to increase by 12.3 gigawatts on Monday to 21.1 GW.
UK consumers face higher energy bills after regulator approves $37 billion grid upgrade
The British Energy Regulator has approved an investment of 28 billion pounds ($37.33 billion), over the next five-years, to ensure that the energy system is reliable and safe in the future. This is part of a plan to upgrade the energy system which will increase consumer bills by 108 pounds per year. The investment exceeds…
Energy operator warns of emerging risks to UK gas supply as demand declines slowly
The energy operator in Britain warned on Wednesday of possible shortages during the coldest months. In its first assessment of gas supply security since being established last January, the National Energy System Operator stated that while overall demand for gas will decrease as Britain decarbonises it will be slower at peak times.
Bousso: TotalEnergies' ROI-TotalEnergies power play shows Big Oil how to make energy transition work
TotalEnergies of France is betting heavily on renewables and power, positioning itself as a leader in the global energy demand wave. It also offers investors an alternative to its rivals who are doubling down on gas and oil. Since 2022, the strategies of European oil companies have been in a constant state of flux. The…
EU injects new money into Ukraine for Naftogaz
The top European development banks and Ukrainian Naftogaz energy company signed a deal Thursday that will provide hundreds of millions to ensure Ukraine's gas supply in the face of ongoing Russian attacks on its infrastructure. The war with Russia has impacted the energy system of Ukraine, causing a rise in gas imports.
Ukraine Increases US LNG Imports via Poland for Winter
Ukrainian state oil and gas firm Naftogaz said on Friday it was increasing imports of U.S. liquefied natural gas through Polish firm Orlen and U.S. partners to ensure supplies for the winter amid continuing Russian strikes on the energy system.In a statement, CEO Serhiy Koretskyi said the imports would total at least 300…
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…
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…
Greece signs long-term LNG supply agreement with US
Greece signed a 20-year deal to import 0.7 bcm of liquefied gas each year, starting in 2030. This is its first long term gas supply agreement with the United States. The deal aims to replace Russian gas shipments into Europe. The 20-year agreement comes just months after Trump's administration and the European Union inked a trade agreement in July. Europe pledged to purchase $250 billion of U.S.