South Korea intends to reduce its dependence on Middle East crude imports by 50% by 2035
South Korea wants to 'diversify its energy supply after the Iran War,' said the Industry Ministry on Wednesday. The ministry's 10-year plan for natural resource security said that the country must make a "fundamental change" to its supply chain, citing the lessons learned from the Iran War, which choked global energy flow.
Thailand's largest utility will cut spot LNG imports and strike long-term agreements
Electricity Generating Authority of Thailand's (EGAT) governor announced on Tuesday that the EGAT is planning to halve their reliance on'spot LNG purchases', make long-term agreements with a?supplier in the Americas and increase domestic?gas production to cut costs, ensure reliable supply, and boost domestic.
Malaysian data centers consume more power in the face of high temperatures
Officials said that Malaysia's data centers are using more power as the temperatures rise. This leaves a gap of 9 gigawatts in gas-fired energy capacity for the government to fill by 2032. Siti Saffinah Salleh, CEO of the Energy Commission, said on Tuesday that data centres'…
Russia's exports of LNG for January-August are up 13.7% on an annual basis
The Arctic LNG 2 project has contributed to a 13.7% increase in Russia's liquefied gas exports in the first eight-month period of 2026. In the first eight month of this year, the same data revealed that the Arctic LNG 2 Project had supplied 2.8 million tons. Total Russian…
IEA Birol: we are not talking about a second release from strategic oil reserves
Fatih Bibil, the IEA's chief, said on Monday that they are not presently?discussing a?second?release of strategic oil reserv?es. Birol replied "Not at the moment" when asked if the agency would be discussing a second release from strategic reserves. Birol said that the IEA…
Sheinbaum, a Mexican company, is weighing pilot fracking to boost gas production.
According to four sources familiar with the discussion, Mexican President Claudia Sheinbaum has been evaluating possible pilot fracking in the northern states of Coahuila & Tamaulipas that could boost domestic gas production. Mexico produces crude oil and natural gas via fracking.
Sources say that India will import up to a quarter of its LPG from the US by 2027
Three sources familiar with the matter have confirmed that India intends to purchase up to one quarter of its liquefied gas imports from the United States by 2027. This'move' would reduce India's dependence on the Middle East, and help it to achieve a deal with Washington.
Bangladesh gas supply affected by partial shutdown of LNG terminal
Officials said that Bangladesh's gas supply is under new strain after a technical issue at one of the floating LNG terminals in the country led to a partial shutdown. This resulted in the removal of 450 million cubic foot per day (mmcfd), from the national grid. The incident…
Egypt Looks to Sign Multi-Year LNG Supply Deal
Egypt is in talks with energy majors including Shell, TotalEnergies and BP to buy 15 to 18 cargoes of liquefied natural gas per month for at least three years, three trading and industry sources familiar with the matter told Reuters.The talks come as Egypt's domestic production…
The head of the IEA urges EU to reconsider its opposition to new Arctic oil exploration
The head of International Energy Agency, urging the EU to reconsider its opposition to oil and gas exploration in the Arctic as Europe strives to secure future energy supplies. The European Union currently supports an 'ban on new drilling in the Arctic for environmental reasons…
Data shows that Russia's LNG imports will increase by 9.9% during the first half of 2026.
The preliminary LSEG data showed that Russia's liquefied gas exports grew 9.9% - in the first half of this year - to 16.6 million metric tonnes, boosted mainly by the growing supply resulting from the new Arctic LNG 2 project. Due to seasonal maintenance, exports in June fell by 1.5% compared to a year ago and 37% compared to May…
Germany warns that the EU methane law could disrupt jet fuel supply
Germany, Europe's largest gas market, warned that EU plans to regulate methane emissions for oil and gas imports could disrupt jet fuel supply, already under pressure from the Iran War's energy shock. The?European?Union?will require monitoring and verifying methane emission for fuel deliveries into the bloc.
US and Qatar urge EU to amend methane regulations, warning of supply risks
The U.S. and Qatar, two major energy exporters, urged the European Union on Wednesday to revise planned methane emission?rules? for oil and gas imports. They warned that the policy could disrupt fuel supply to Europe. The EU regulation will begin requiring methane monitoring for fuels delivered to the EU in the coming year.
JERA expects LNG prices to remain stable as Qatar's repairs drag on and Europe builds up stocks
JERA, a Japanese company, expects the price of liquefied gas to remain relatively stable in the near future, because restoring Qatar's damaged LNG facilities from the war with Iran will take time, and Europe needs to replenish its stocks before winter. Yukio Kani, Chairman and Global CEO of JERA…
China taps deep shale deposits in Sichuan to boost its gas production
Sinopec experts and industry consultants say that China is increasing gas drilling in deeper, more ancient shale deposits of the Sichuan Basin, which could increase domestic production by over a third before 2035. State oil giants, whose shale-gas output is below government targets…
Italian Business Lobby Calls to Speed up Roll-Out of Renewables
Italy's business lobby Confindustria has called for emergency action from the government to speed up the roll-out of renewable energy in the country, which is grappling with much higher power costs than in most of Europe.The recent increase in gas prices triggered by the Iran…
Italy Business Lobby Calls for Emergency Action to Boost Renewables Rollout
Confindustria, the business lobby in Italy, has called on the government to take urgent action to speed up the deployment of renewable energy in the country. The country is currently grappling with higher electricity costs than most of Europe. Recent increases in gas prices…
Ukraine's Naftogaz signs preliminary agreement to restructure $1.4 Billion in Eurobonds
Naftogaz, the Ukrainian energy company owned by the state, said that it had?reached? a preliminary agreement for restructuring two Eurobond tranches of EUR1.2 billion ($1.38billion) due in this year and 2028. The Russian war is continuing to cause damage to its infrastructure.
Data shows that Russian LNG exports rose 11.5% from January to May.
The preliminary LSEG data on Monday showed that Russia's exports grew by?11.5% from January to May compared to a year ago, reaching 14.5 million metric tonnes. This was due to a strengthening of supplies from the Arctic LNG 2 Project. Total Russian LNG exports jumped by 23% in May compared to a year earlier, reaching 3.12 million tonnes.
Regulators warn of the risks associated with EU's increasing dependence on US gas
European energy regulators warned that the European Union's increasing reliance on U.S. natural gas poses risks, including a growing dependence on one supplier. Since 2021, EU countries have tripled their imports of U.S. LNG as they rush to replace Russian energy. The EU sourced 58% (or 25%) of its gas from the U.S. last year.