US Natural Gas Futures Rise as Forecasts Predict Colder Weather
U.S. natural gas futures rose on Friday in thin-volume trading and were on track for a weekly gain, ending a two-week losing streak, as forecasts pointed to colder weather and increased demand in the weeks ahead.Front-month gas futures for January delivery on the New York Mercantile Exchange were up 4.4 cents, or 1% at $4.29 per million British thermal units. The contract was up 8.5% so far this week.Prices reached their highest level since December 11, at $4.593 in the previous session, before settling 3.8% lower for the day."There's going to be thinner volume on the holiday week…
Turkey claims that Russia provided $9 billion to it for the Akkuyu Nuclear Plant
The Turkish energy minister announced that Russia has provided $9 billion in new financing for the Akkuyu nuclear power plant, which is being built by Rosatom, the state-owned nuclear energy company of Moscow. Ankara expects the 'power' plant to be operational by 2026. Rosatom will build Turkey's first nucleo power station in Mersin, a Mediterranean province. The agreement signed in 2010 is worth $20 billion. The plant had been expected to become operational this year but was delayed. This (financing), will be most likely used in 2026-2027.
Russia builds its first LNG tanker of the ice class and plans to build two more by 2026
Interfax, citing the CEO of the company, reported that 'Russia's leading tanker group Sovcomflot' received its first Russian-built Ice-class tanker built for liquefied gas from Zvezda Shipyard. It plans to order two more in the next year. Due to Ukraine-related sanction, Russia has difficulty in securing gas carriers. This is especially true for vessels that can?cut through thick Arctic ice?and serve LNG projects. Zvezda is Russia's most advanced shipbuilding facility. It specializes in building large?Arc7 tankers capable of breaking through up to 2 meter thick ice. These vessels were designed to transport LNG for Arctic projects.
US Natural Gas Futures Rise Alongside LNG Export Demand
U.S. natural gas futures rose 4% on Tuesday, boosted by record gas flows to liquefied natural gas export plants and forecasts for more demand than previously expected over the next two weeks.Front-month gas futures for January delivery on the New York Mercantile Exchange rose 15.3 cents, or 4%, at $4.105 per million British thermal units by 08:59 AM ET. Priced ended 0.5% lower on Monday. "The demand for LNG is very strong and they're keeping those numbers near record high. So, that's definitely supporting the market right now," said Phil Flynn, senior analyst for Price Futures Group.Average gas flows to the eight large U.S.
Analyst: Myanmar to resume LNG imports following cargo received last month
Myanmar will resume LNG imports in 2019 after receiving half of a cargo of the super-chilled fuel last month. This marks an end to a four-year-long hiatus of shipments. After the civil war, shipments of LNG to Southeast Asia were stopped. Since then, Myanmar has experienced gas shortages and widespread blackouts. Analyst Nelson Xiong said that Kpler expected Myanmar to import 0.4 millions tons of LNG by 2026. Two'restarted' or upgraded LNG to power projects will ramp up to a total 500 megawatts. According to Kpler?data…
ComBio Brazil expects revenues to reach $430 million as corn ethanol customers increase production
Commercial director Ricardo Blandy, Brazil's biggest supplier of renewable thermal power for industrial clients, said that ComBio expects its revenue to triple to?about $430 million in five years due to the growing demand from corn ethanol producers. Blandy stated that there are?25 corn-ethanol plants in Brazil. Another 18 are currently under construction, and another 19 are still in the planning stages. Biofuel production is increasing, and biomass supply has become tighter. Blandy stated that in states such as Mato Grosso - Brazil's largest corn ethanol producer - the availability of biomass to feed steam boilers is a major issue…
The LNG tanker Kunpeng loads cargo at a Russian plant in violation of sanctions
Ship-tracking data showed that a liquefied gas tanker loaded a cargo at Russia's Portovaya?LNG plant, which is under Western sanctions due to Moscow's conflict in Ukraine. According to data provided by analytics firm Kpler, the Kunpeng arrived in Portovaya's LNG terminal on December 18, was unloaded on that day and left with a cargo of natural gas on December 21. LSEG data shows that the tanker arrived and left the terminal at the same dates. It is the first time that a vessel, Kunpeng, not subject to sanctions, has picked up LNG from a designated LNG project.
Japan's JERA receives government subsidy on US ammonia imports
JERA, Japan's largest power generator, has received a 15-year government subsidy to cover the?difference between coal and ammonia prices. It aims to import ammonia to its planned U.S. The government has agreed to provide a subsidy for 15 years, covering the?difference between ammonia and coal prices. JERA aims to import ammonia from its planned?U.S. plant in 2029. JERA, CF Industries, and Mitsui Trading formed a joint-venture in April to build the Blue Point Project, one of the largest ammonia plants with low carbon emissions in the world. The project is estimated to cost $4 billion.
Japan will increase public funding for nuclear power renewal
Japan has announced plans to increase public funding for its crippled nucleopower sector. This is essential, say experts, to kick-start an industry that was previously financed by utilities owned by shareholders. Japan closed all 54 reactors in the wake of the 2011 Fukushima nuclear disaster. The public was concerned about safety standards and shut them down. Only 14 out of 33 reactors that were available to restart are operational due to stricter rules and in some cases opposition from locals. The recovery of the…
Woodside's new CEO must navigate LNG projects with high costs through glut risk
Woodside Energy is facing a leadership shake up after Meg O'Neill's unexpected departure for the top position at?BP. This comes at a time when the Australian company is trying to deliver on key projects in a?braced?for a glut of supply. Analysts say that the oil and gas company will continue to pursue its global growth strategy. This requires continued investment in new assets as well as continuity in mature fields. After project delays and rising costs, it will be important to advance the Louisiana LNG project. The Louisiana LNG project, valued at $17.5 billion, will be Woodside's key project.
What is Fusion Energy, the Quest that Trump Media is so enamored with?
Scientists and businesses have tried for decades to harness the fusion energy that powers the sun to produce electricity on Earth. The $6 billion merger announced on Thursday between U.S. president Donald Trump's Trump Media and Technology Group and?Google-backed TAE technologies is the latest development for an industry still a long way from commercialization. What is Fusion? The process of fusion energy that powers the sun and the stars occurs when light isotopes such as hydrogen are forced to fuse together under extreme temperatures and pressures to release enormous amounts of energy.
Woodside's new CEO must navigate LNG projects with high costs through glut risk
Woodside Energy is facing a leadership shake up after BP's?chief executive Meg O'Neill's unexpected departure for the top position at BP. This comes as the Australian 'firm' is trying to deliver key projects on a market that's braced for an oversupply. Analysts say that the oil and gas "producer" is expected to continue with its global strategy of growth, which requires sustained investment in both new assets and continuity within mature fields. After project delays and rising costs, it will be important to advance the Louisiana LNG project. The Louisiana LNG project, valued at $17.5 billion, will be Woodside's key project.
EUROPE GAS-European Gas Prices Rise on Colder Weather Demand
Dutch and British gas rates posted modest gains on Thursday, but it is expected that they will remain flat as the 'increased demand due to colder weather' can be easily met through pipelines and liquefied natural gas deliveries. LSEG data shows that the benchmark Dutch front-month contract was 27.57 euros per Megawatt Hour (MWh) or $9.48/mmBtu at 0907 GMT. This is an increase of 0.19 euros. The Dutch day-ahead contracts was up by 0.41 euros to 27.36 Euro/MWh. The British day-ahead price of gas was 0.90 pence higher at 71.00 pence/therm. Meanwhile, the front-month contract for gas was 0.62 pence higher at 72.90 pence/therm.
In Poland's 2030 climate plan, renewable energy will make up 51-53% of the power mix.
The energy ministry said that Poland aims to have 51%-53% of its electricity mix made up by renewable energy sources by 2030. This is according to a draft version of the national energy and climate plans, which Warsaw will submit to the European Commission. The range of policy scenarios is higher than the 30% Poland announced a year ago, but still slightly lower than the 56% Poland predicted a year ago, as natural gas will now be used to generate more electricity. By 2040, it is projected that the share of renewables will rise to between 65% and 68%.
Freeport LNG Export Plant in Texas will take in more natgas data shows
Data from the financial firm LSEG revealed that U.S. liquefied gas company Freeport LNG was'set to receive more natural gas in its Texas export plant on Wednesday. This implies a resumption of service by one of three liquefaction train after it had been shut down on Tuesday. It is one of the U.S. LNG facilities that are closely monitored in the world, as changes in its operation can lead to a?price spike in global gas markets. Gas prices in the U.S. typically?decline due to lower demand from the export plant. Prices in Europe are usually higher because there is less LNG available for global markets. The futures price in the U.S.
EUROPE GAS-European gas prices rise due to a colder and less windy climate, LNG shortage
Gas prices in the Netherlands and Britain rose on Wednesday, supported by an improved weather forecast and an interruption at the Freeport Liquefied Natural Gas?plant. Storages are still 'below previous years' levels. LSEG data shows that the benchmark Dutch front-month contract was 27.50 euros per Megawatt Hour (MWh) or $9.44/mmBtu at 0941 GMT. This is an increase of 0.60 Euro. The February contract increased by 0.45 euros to 27.19 Euro/MWh. The British day-ahead gas prices increased by 1.40 pence to 70.50 pence a therm.
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. It has added backup?capacity as well as alternative connectivity options in response to Russia's attacks on the?Ukrainian?energy infrastructure. Starlink's direct to cell SMS service was introduced in November to support customers who live in remote areas and are affected by blackouts.
Solarig, a Spanish company, invests over $400 Million in Poland in biomethane facilities
Solarig, a Spanish renewable developer, announced on Monday that it would invest more than 1.5 billion zlotys ($415 millions) in Poland to build and operate 20 biomethane plant over the next five-year period. Solarig's Biorig subsidiary, which also develops similar portfolios in Spain and Italy, will deploy the investment. The company claims that the facilities will be deployed in several regions across Poland and generate a terawatt-hour of gas each year. This is enough to cover the consumption of 400,000 households. Biomethane is produced from organic waste such as food scraps and damaged crops.
DL Chemical plans to shut down Yeochun NCC No. 1 plant under restructuring
DL Chemical, a South Korean petrochemical firm, announced on?Monday the closure of?Yeochun NCC Co.'s No. According to an emailed announcement, the No. 1 plant with a capacity of 900,000.000 metric tonnes should be closed as part of a restructuring plan. Yeochun NCC Co, the third largest ethylene producer in Korea, is a joint venture of DL Chemical with Hanwha Solutions. Local petrochemical companies should submit a restructuring plan by the end of this year to reduce oversupply, and to improve their financial situation. The Korea Economic Daily reported Sunday that Hanwha Chemical and DL Chemical have agreed to close YNCC’s No.
Australia announces rescue bid for Rio Tinto Tomago Aluminium Smelter
The Prime Minister Anthony Albanese, announced on Friday that a "rescue" effort would be launched to keep Australia's biggest aluminium smelter open, the struggling Tomago plant majority owned by Rio Tinto after its current energy contract expires 2028. The announcement comes after the company had warned in October of a possible closure for Tomago Aluminium. It employs more than 1,000 employees and 200 contractors. Albanese stated that aluminium was becoming a "vital product", making it vital to keep Tomago operating. He said that if Australia does not produce aluminium, the knock-on effects in other industries are significant.