Venture Global proposes larger expansion at Plaquemines LNG facility, filing shows
Venture Global plans to expand the Plaquemines LNG Export Facility by 24,8 million metric tonnes per annum (mtpa), which is almost 6 mtpa higher than what it proposed four months ago. Venture Global, which is currently building the second largest LNG plant in the United States, has announced on March 6 plans to expand it by an initial 18,6 mtpa. The filing indicates that it is asking the Federal Energy Regulatory Commission to increase the expansion from 18.6 mtpa to 24.8 mtpa. Venture Global was able to rapidly build and ramp-up production at its LNG facilities. According to LSEG, it has been a major factor in the U.S. remaining the largest exporter of super-cooled gas.
Britain accelerates clean energy projects through a new energy reform scheme
The British government made changes on Tuesday to its main scheme to promote clean energy projects. Contract lengths were extended and auction budgets were changed in an effort to speed up the rollout of renewable energy. Britain's plans for decarbonising its electricity sector are centered around offshore wind. The aim is to increase capacity from 15 GW to 43-50 Gigawatts (GW) by the end decade. A government report published in November warned that it would be difficult to achieve this goal. The Contracts for Different scheme in Britain is the main way to secure clean energy projects. It holds annual auctions, which offer a minimum guaranteed price for power produced.
Blackstone's COO: Blackstone will invest $25 billion in Pennsylvania data centres and natural gas plants
Gray, Blackstone's President and Chief Operation Officer, said that the company plans to invest $25 Billion in data centers and power plants throughout Pennsylvania. Gray spoke at a Tuesday panel discussion at the Energy and Innovation Summit held in Pittsburgh. Gray stated that Blackstone has identified several locations to build these energy-intensive data centers. The private equity firm plans to also partner with an electric company to build multiple natural gasoline power generation facilities in Pennsylvania to fuel the centers. The expansion of data centres, which is needed to train and deploy artificial intelligence, has been a major factor in the reduction of U.S.
China's thermal output is down in H1 even though June heat is driving an increase
Official data released on Tuesday showed that China's thermal power production from fossil fuels increased in June due to higher air conditioning demands, but declined in the first half. Renewables accounted for the majority of the increase in power output. According to the National Bureau of Statistics, thermal power generation in June increased by 1.1%, to 493.9 billion Kilowatt-hours. According to the China Coal Transportation and Distribution, data for June shows that average daily thermal coal consumption rose by 1.1% in 25 provinces of China. As residents turned on air conditioners, the hot weather led to a higher consumption of coal.
China's coal production in the first half of this year is up 5%.
Data from the Statistics Bureau showed that China's coal production in the first half of the year increased 5% compared to the previous year. Authorities are focusing on ensuring a sufficient supply as buyers shift to domestic coal, which is cheaper, over imported coal. The first-half production in 2025 was 2.4 billion tonnes, and the production for June increased 3% over the previous year to 421 millions tons. China is importing more than it produces, and this has caused a surplus. In a report published on Monday, Kpler analysts stated that "currently the main factor shaping price sentiment" is domestic production.
China's oil output surges in June as state-owned refining facilities ramp up their operations
China's crude throughput in June increased 8.5% compared to a year ago, official data revealed on Tuesday. State-owned refineries saw an increase in operations, and a return in profits, according consultancies. According to the National Bureau of Statistics, the world's second largest oil consumer processed about 15,15 million barrels of crude per day in June. Calculations based on data show that the daily processing rate has increased by 8.8% since May, reaching the highest level seen since September 2023. According to Chinese consultancy OilChem…
Sources say that Venture Global has begun producing LNG at the Plaquemines Phase 2 plant.
According to LSEG ship tracking and federal filings, two people who are familiar with Venture Global's operations and have been following its operations for some time as well as two people familiarized with its operations, Venture Global began producing liquefied gas at Phase 2 of the Plaquemines Export Facility in Louisiana. Two people with knowledge of the project said that the second largest LNG producer in the United States has been exporting LNG from its Louisiana facility for the past six months. It has now started producing supercooled gas from phase 2, which will allow it to sell LNG at higher spot prices over the next two-year period.
China's crude imports in June reached the highest daily rate of since August 2023
Data showed that China's crude imports increased in June to the highest rate daily since August 2023. This was after refineries increased their operations and imports from Saudi Arabia and Iran rose, according consultancies. Data from the General Administration of Customs revealed that China was the world's biggest crude oil importer, importing 49.89 millions metric tons of crude, or 12.14 million barrels of oil per day. Volume increased by 7.1% in comparison to 46.6 million tonnes in May, and 7.4% compared to June 2024. The main reason for this surge is that the oil prices have fallen since April.
China's crude imports from June rose after Saudi Arabia and Iran imports increased.
Data showed that China's crude imports increased in June, both month-onmonth and year-onyear. This was due to refineries increasing operations, and an increase in imports from Saudi Arabia and Iran. Data from the General Administration of Customs revealed that China was the world's biggest crude oil importer, importing 49.89 millions metric tons of crude, or 12.14 million barrels of oil per day. Volume increased by 7.1% in comparison to 46.6 million tonnes in May, and 7.4% compared to June 2024. According to local consultancy Oilchem, maintenance affected a combined refinery capacity of 107.7 millions tons per annum in June. This is down 22.2 million tonnes from May.
Slovakia wants to reach an agreement on the end of Russian gas supply by Tuesday
Robert Fico, Slovakia's Prime Minister, said that the country hoped to reach an agreement by Tuesday with the European Commission and EU partner countries on guarantees it would not be affected by the end of Russian supplies as well as a new package of sanctions against Russia. Slovakia has blocked the EU's 18th sanction package because it disagrees with a different Commission proposal that would end all Russian gas imports from 2028. Slovakia claims this could lead to shortages, an increase in transit fees and prices, as well as damage claims by Russian supplier Gazprom. Fico stated that it was unclear at this time if there would be a deal, as certain issues remained.
Australia declares World Heritage Listing to Protect Indigenous Carvings
The government announced on Saturday that securing World Heritage status for Australia’s Murujuga Rock art will help to protect the ancient Indigenous carvings located in an industry hub. The art is thought to be at least 50,000 years old and lies on a peninsula with gas and explosives factories, which highlights the delicate relationship between the nation’s Indigenous culture, and its vital resource industries. UNESCO awarded World Heritage status on Friday to the site located in the Burrup Peninsula after a "tireless nominating process" that began in 2023. Environment Minister Murray Watt said.
Baker Hughes reports that US oil/gas rig counts have dropped for the 11th consecutive week, to their lowest level since 2021.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of oil rigs and natural gas production for the 11th consecutive week for the first since July 2020. This was when the COVID-19 epidemic reduced demand for fuel. The number of oil and gas drilling rigs, a good indicator of future production, dropped by two in the week ending July 11 to 537, the lowest level since October 2021. Baker Hughes reported that the rig count is down by 47 or 8% this week compared to this time last. Baker Hughes reported that oil rigs dropped by one this week to 424, the lowest level since September 2021. Gas rigs remained unchanged at 108.
CPC Corp Looks to Buy US Shale Gas Assets
Taiwan's state-owned energy company CPC Corp is in early stage discussions to buy shale-gas producing assets in the United States, three sources familiar with the matter said, in a bid to secure natural gas supplies to fuel Taiwan's economy.If a deal is struck, CPC would join a growing list of Asian companies taking ownership of U.S. natural gas assets, gaining exposure to the commodity at a time that the United States is expanding its export capacity by building more liquefied natural gas plants.Taiwan would also be gaining political leverage with the Trump administration, which has linked increasing imports of U.S.
Gazprom and CNPC discuss future Russian Gas Supplies to China
Gazprom reported that the heads of Russia's Gazprom, and China's CNPC, discussed future Russian gas deliveries to China in Beijing during their talks. Moscow is seeking stronger ties with China, which is the world's largest energy consumer. Since the beginning of the Ukraine conflict in February 2022, Russia, which holds the world's largest reserves of gas, has diverted oil from Europe to India, and China. Gleichzeitig, the diversification of Russian pipeline natural gas imported from the European Union is slow. The Power of Siberia Pipeline began exporting gas to China at the end of 2019.
Russia will compensate for overproduction of oil in August and September
Interfax reported that Alexander Novak, Deputy Premier, said on Friday that Russia will compensate in August and September for oil production in excess of the OPEC+ quota. This is in accordance with the current plan. Novak also said that the government is still debating a complete ban on gasoline exports and that any decision would depend on the market price in the coming days. The Russians have to compensate for a cumulative overproduction of 691,000 barrels a day since April. OPEC+ - the Organisation of Petroleum Exporting Countries (OPEC) and its allies, such as Russia - has increased production after years of cutting it to support the market.
BP reports gas and oil price hits; increased upstream production in the second quarter
BP said that its second-quarter results will be affected by lower gas and oil prices, but the upstream production is expected to be higher than originally forecast. The company announced this in a trading report on Friday, ahead of the results scheduled for August 5. Crude oil fell in the first quarter of the year as OPEC+ (the Organization of Petroleum Exporting Countries plus its allies, such as Russia), began to reverse the self-imposed production reductions of 2,17 million barrels a day that it had imposed in April. BP reported that crude oil prices in the second quarter averaged $67.88 a barrel, compared to $75.73 a barrel in the prior quarter.
SEFE signs 3-year contract with ADNOC for LNG supply
SEFE, a German company, has signed a deal with ADNOC of the United Arab Emirates for liquefied gas. Deliveries are expected to start in 2025. After the Russian invasion of Ukraine, SEFE (Securing Energy for Europe), a state-owned company, seeks long-term supply agreements after losing most its Russian pipeline gas supplies in 2022. The agreement, valued at $400 million, is based on the Das Island liquefaction plant of Abu Dhabi National Oil Company (ADNOC). Both companies said that they wanted to strengthen their long-term relationship with energy partners. SEFE reserves the right to decide at its own discretion on the delivery destination.
EUROPE GAS-Dutch gas prices and British gas rates range-bound due to strong supply and warm weather
Due to a strong supply of gas and a warm weather forecast, Dutch and British wholesale prices for gas were slightly higher on Thursday morning. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub rose 0.72 euros to 35.10 Euro per megawatt hour (12.06/mmBtu) or $12.06/mmBtu by 0910 GMT. The Dutch day-ahead contracts was up by 0.65 euros at 34.85 Euro/MWh. The British day-ahead contracts was up 1.45 pennies at 83.75 pence/therm. Wayne Bryan, principal of gas research at LSEG, said that the TTF DA is expected to remain within its current price range.
Europe looks to Nordic Space Race to reduce US dependence
Two small spaceports located in the far north of Sweden, Norway and Finland are rushing to launch the very first satellites launched from Europe. The region is looking to reduce its dependence on U.S. companies. The "America First" policies of U.S. president Donald Trump and the conflict in Ukraine has prompted Europe's independent capabilities to be boosted in many areas, including defence operations and space operations. Europe is scrambling to find alternative solutions amid fears that Elon Musk, Trump's former ally, could restrict Ukraine's ability to access SpaceX's Starlink satellites which are crucial for the country's communication.
Ember: Solar power tops EU energy mix for the first time in June
Data from the energy think tank Ember on Thursday showed that solar power became the largest source of electricity in the European Union for the first ever, surpassing wind and nuclear. Coal's contribution also fell to a record low. Solar power generated 22,1% of EU electricity in the last month. This is up from 18,9%% one year ago, thanks to record sunshine and ongoing solar installations that boosted output to 45,4 terawatt-hours (TWh). Nuclear was next at 21.8%, and wind made up 15.8%. Ember reported that at least 13 EU nations, including Germany and Spain, had recorded the highest monthly solar generation ever.
