TotalEnergies says the Mozambique Liquefied Natural Gas project cost has risen to $4.5 billion
TotalEnergies told Mozambique in a letter that costs for its LNG project had risen $4.5 billion over the past four years. It also wants to extend its production agreement by 10 years. The French oil giant confirmed Saturday that it, along with its partners, had decided to lift the force majeure for this project. It was stopped in 2021 due to an islamist militant attack. Before construction can resume, Mozambique’s Council of Ministers must approve an updated budget. The oil and gas regulator of Southern Africa is preparing its own estimate for the additional costs associated with this project.
TotalEnergies, in partnership with partners, lifts force majeure on the $20 billion Mozambique Liquefied Natural Gas project
TotalEnergies, a French oil company, announced that it had lifted the force majeure for its $20 billion Mozambique Gas project with project partners. This comes four years after a militant Islamist attack halted construction. TotalEnergies' press officer confirmed that a letter was sent on Friday to the Mozambican Government. However, the company stated that the project will only be relaunched after the government has approved a revised budget and schedule. The company stated that before the project can be fully relaunched, the Mozambique council of ministers must approve an addition to the development plan.
Chandra Asri buys Exxon Singapore's retail fuel stations
Chandra Asri Pacific announced on Friday that it would acquire Exxon Mobil’s retail petrol stations with the Esso brand in Singapore, as the U.S. giant streamlines its downstream operation. In a press release, the Indonesian conglomerate stated that the deal should be finalized by the end this year. The value of this deal, which includes almost 60 stations and related supply agreements, has not been disclosed. Chandra Asri, the Indonesian company, said that it will continue to use Esso as its brand name, purchase fuel for the stations directly from Exxon and hire Exxon employees to run the business.
Malaysia: Multilateral power deal delayed due to Thai politics; renewal expected next month
Malaysia's Energy Minister said that Thailand has postponed the renewal of a multilateral power trading agreement in Southeast Asia due to changes in local politics. The Lao PDR-Thailand-Malaysia-Singapore (LTMS) Project to supply hydropower from Laos via Thailand and neighbouring Malaysia is now expected to be renewed in November, Energy Transition and Water Transformation Minister Fadillah Yusof told . The Constitutional Court removed Thailand's prime minister Paetongtarn Shinawatra in August. Anutin Charnvirakul was appointed to the position the following month.
Malaysia: Multilateral power deal delayed due to Thai politics; renewal expected next month
Malaysia's Energy Minister said that Thailand has postponed the renewal of a multilateral power trading agreement in Southeast Asia due to changes in local politics. The Lao PDR-Thailand-Malaysia-Singapore (LTMS) Project to supply hydropower from Laos via Thailand and neighbouring Malaysia is now expected to be renewed in November, Energy Transition and Water Transformation Minister Fadillah Yusof told . The Constitutional Court removed Thailand's prime minister Paetongtarn Shinawatra in August. Anutin Charnvirakul was appointed the following month.
Russell: The Big Three Asian thermal coal producers look healthy while others are pale
Asia dominates global thermal coal markets, but the future looks increasingly divided between the robust domestic markets of the three heavyweights China, India and Indonesia as well as a slowly fading seaborne industry. In recent years, the three countries have increased their coal production rapidly to meet the rising demand for energy. Outside of these three nations, Australia, Russia, United States, and South Africa are the main exporters of seaborne products. While the domestic thermal coal market in China, India, and Indonesia will likely grow in the coming decades, this cannot be said of the seaborne market.
Russell: The Big Three Asian thermal coal producers look healthy while others are pale
Asia dominates global thermal coal markets, but the future looks increasingly divided between the robust domestic markets of the three heavyweights China, India and Indonesia as well as a slowly fading seaborne industry. In recent years, the three countries have increased their coal production rapidly to meet the rising demand for energy. Outside of these three nations, Australia, Russia, United States, and South Africa are the main exporters of seaborne products. While the domestic thermal coal market in China, India, and Indonesia will likely grow in the coming decades, this cannot be said of the seaborne market.
Thailand sets record for annual drop in power output and LNG imports
Thailand's electricity production is expected to drop by a record amount this year due to a mild winter and a slowed economy, according government data. This will result in Southeast Asia’s largest LNG importer experiencing its steepest fall in fuel purchases. Official data revealed that the power generated and imported by the 70 million-plus people in the country fell by 5.4% in the seven-month period ending in July. This is nearly twice as much as the 2.8% drop in January-July of 2020, due to the coronavirus lockdowns. The official data for the last four decades show that the annual drop in production is only the fourth since the early 1970s.
Google will invest $6 billion into a data centre in southern India, sources claim
Google, the Alphabet division of Alphabet, will invest $6 billion in developing a 1 gigawatt data center and its power infrastructure within the southern Indian state Andhra Pradesh. This is the first investment made by the Alphabet in India. Two Andhra Pradesh sources who are directly involved in the matter said that the data centre will be built in Visakhapatnam and include $2 billion worth of renewable energy to power it. The data centre of the search giant will be the biggest in terms of capacity and investment in Asia. It is part of a multibillion dollar expansion across the region, including Singapore Malaysia and Thailand.
Google will invest $6 billion into a data centre in southern India, sources claim
Google, the Alphabet division of Alphabet, will invest $6 billion in developing a 1 gigawatt data center and its power infrastructure within the southern Indian state Andhra Pradesh. This is the first investment made by the Alphabet in India. Two Andhra Pradesh sources who are directly involved in the matter said that the data centre will be built in Visakhapatnam and include $2 billion worth of renewable energy to power it. The data centre of the search giant will be the biggest in Asia in terms of capacity and investment.
Sources say ADNOC will restore most Murban oil to equity holders by July.
Multiple trade sources reported on Thursday that Abu Dhabi National Oil Company has restored the majority of Murban crude oil supplies going to equity holders for July, after a drastic cut in June. Traders said that partners in Murban crude producer ADNOC Onshore include BP TotalEnergies China National Petroleum Corp Inpex Zhenhua oil and South Korea's GS Energy. They are entitled to 40% of production, which is around 2.1million barrels per day. Sources said that during the conflict between Israel and Iran last month, ADNOC informed equity holders it would reduce its Murban crude oil supply by 3 to 4 million barrels.
Singapore's renewables use hits record highs as solar output and imports rise
An analysis of the most recent market data revealed that Singapore increased the share of renewables to a new record in May. The country increased renewable imports while accelerating local solar power production. Data from the National Electricity Market of Singapore revealed that domestic solar generation rose in May at its fastest rate since March 2024, and renewable imports increased for a third consecutive month, reaching their highest level in over two years. This boosted the share of renewables to 2,58% in the power mix of the city-state.
Singapore's renewables use hits record highs as solar output and imports rise
An analysis of the most recent market data revealed that Singapore increased the share of renewables to a new record in May. The country ramped-up renewable imports while accelerating local solar power production. Data from the National Electricity Market of Singapore revealed that domestic solar generation rose in May at its fastest rate since March 2024, and that renewable imports increased for a third consecutive month, reaching their highest level in over two years. This boosted the share of renewables to 2,58% in the power mix of the city-state.
PTT Thailand to purchase 2 MTPA LNG from Glenfarne Alaska LNG for 20 years
Glenfarne announced late Monday that the Thai state-owned PTT Group, which is an oil and gas company, had signed an agreement with Glenfarne to purchase 2 million metric tonnes of liquefied gas annually from its Alaska LNG project for a period of 20 years. PTT stated that it would continue to study the Alaska LNG Project in order to expand its LNG businesses and improve Thai energy security. Thailand has increased its LNG imports in recent years, to meet the rising demand for electricity and decreasing domestic gas production. It has also expanded its import capacity.
TotalEnergies plan to restart LNG project is a positive for the energy minister of Mozambique
Mozambique’s energy minister stated on Friday that the government had not received a formal request from TotalEnergies for the lifting of a declaration of force majeure on the $20 billion liquefied gas (LNG), project in the country. However, he was optimistic about TotalEnergies' plan to restart its development during the summer. After meeting with Japan's Industry Minister, Muto Yoji, Estevao Palae, the Minister of Mineral Resources and Energy, told reporters that force majeure would be lifted once conditions were in place for the project to resume operation. Pale stated that the government was doing all it could to restart the project.
The vote of the US Trade Panel opens the door to imposing stiff tariffs on solar imports
The U.S. International Trade Commission decided on Tuesday that a flood cheap imports from Southeast Asian countries threatened or materially damaged domestic solar panel manufacturers. This decision brings the United States closer to imposing heavy duties on these goods. The three-member ITC voted "yes", meaning that the Commerce Department would issue orders to enforce anti-dumping and countervailing tariffs on solar panels imported from Malaysia. Thailand, Cambodia, and Vietnam. This was a decision the agency made last month.
WGC-TotalEnergies CEO wants to lift the force majeure on Mozambique Liquefied Natural Gas project
TotalEnergies, said Chief Executive Patrick Pouyanne on Tuesday, will ask Mozambique for its approval to lift the force majeure on their $20 billion liquefied gas (LNG), project in Mozambique and resume construction before mid-summer. The project has been covered by force majeure due to insurgent attacks since 2021. It includes the development of the Golfinho, Atum and Offshore Area 1 natural gas fields, as well as the construction of a two train liquefaction facility. Pouyanne said on the sidelines the World Gas conference that "the security situation has improved." It will be up the Mozambique government to approve lifting this force majeure.
Consultancy says Brazil's sugar condition is favorable for building global surplus
The Datagro consultancy reported on Wednesday that Brazil's sugar-growing conditions in 2025/26 are favorable, despite the slow start of the harvest. This will contribute to a global surplus expected at 1.53 million tons by 2025/26. Plinio Natari, Datagro’s president and chief economist, stated that the cumulative rains in Brazil’s main sugar region (the center-south, CS) from October to March were among the best rainfalls in the past five years. This helped restore soil moisture. Nastari said that the expected surplus of sugar comes after a deficiency of 4,67 million tons between 2024 and 25.
Brokers say that the global supply of sugar will keep prices in check.
Broker StoneX stated on Tuesday that the expected increases in sugar production by key growers would keep prices under pressure over the coming months and reduce profit margins for millers. StoneX projected that the global sugar supply balance would shift from a negative 2.8 million metric tonnes in October 2024-September 2025, to a positive 3.7 million tons by 2025/26. Monday is a holiday. The market structure has changed. "We had a lot of windows last year to price sugar for mills, but it's changing now." Bruno Lima said that he didn't believe there would be many opportunities for mills to price sugar this year.
US tariffs and Europe's slowdown change global solar panel trade
Trade data revealed that solar panel manufacturers in Laos, Indonesia and Cambodia, which are mostly owned by Chinese companies, increased their market share in the U.S. after tariffs on exports to other Southeast Asian nations, including Cambodia and Thailand were imposed. After two rounds of tariffs last June and November, the U.S. Government finalised steep levies against imports of solar modules and cells from Vietnam, Malaysia and Thailand in April. This was to prevent dumping of these products by factories owned mainly by Chinese in these countries.