Global LNG demand to increase in 2026, while supply increases.
Analysts say that global liquefied gas (LNG), which is a form of natural gas, will increase this year. This will ease the constraints since the Ukraine War in 2022 and lower prices, which may spur demand, including from China and India, who are major importers. Analysts expect a massive wave of supply to continue until 2029. This will?depress?prices, which could lead to more demand coming from emerging economies. Kpler said that 2026 will be a year of transition for the LNG industry. The market will move from tightness to ample availability with enough supply…
India, UAE Sign $3b LNG Deal, Boost Trade and Defense Ties
India signed a $3 billion deal on Monday to buy liquefied natural gas from the United Arab Emirates, making it the UAE's top customer, as the leaders of both countries held talks to strengthen trade and defence ties.The agreement was signed during a very brief two-hour visit to India by UAE President Sheikh Mohammed bin Zayed Al Nahyan for talks with Indian Prime Minister Narendra Modi. They pledged to double bilateral trade to $200 billion in six years and form a strategic defence partnership.Abu…
Syria tightens its grip after Kurdish withdrawal, IS jail attack reported
On Monday, Syrian government forces tightened their grip across a large swath of territory in the north and east that had been abruptly abandoned by Kurdish troops on Sunday. This was a dramatic change which solidified President Ahmed al-Sharaa’s rule. The Kurdish-led Syrian Democratic Forces, once the main U.S. ally in Syria, have agreed to a 'withdrawal from two Arab majority provinces that they controlled for many years. On Monday, there were reports of fighting despite the agreement. The SDF claimed that armed groups attacked a jail in which it held thousands of Islamic State fighters, but did not name them.
After abrupt Kurdish retreat, Syrian troops consolidate their hold
On Monday, Syrian government forces tightened their grip across a large swath of territory in the north and east that was abruptly abandoned by Kurdish troops on Sunday. This dramatic change solidified President Ahmed al-Sharaa’s rule. After fighting for days with the government, the Kurdish led?Syrian Democratic Forces, (SDF), which were once the main U.S. Allies in Syria, decided on Sunday to withdraw. This includes oil fields from two provinces that had a majority of Arabs. The biggest change in Syria's political map has occurred since jihadist fighters under Sharaa ousted President Bashar al Assad in 2024.
Gas prices in Europe reach 10-week high amid Iran tensions
Early trade on Europe's benchmark contract for gas reached a 10-week-high, continuing the bullish trend from?the last session amid forecasts of increased demand, short covering and geopolitical tensions regarding Iran. According to LSEG, the benchmark Dutch front-month 'contract' at the TTF hub increased by 0.80 euros to 31.27 Euro per Megawatt Hour (MWh) as of 0905 GMT. Earlier trades reached a contract price of 32.23 Euros, its highest since November 4, last year. The March contract was up 0.88 euros at 30.43 euro/MWh. The British gas day-ahead price rose 4.20 pence to 84.00 pence a therm.
Ghana pays $1.47 billion to settle energy debts
Ghana's Finance Ministry announced on Monday that the government will pay $1.47 billion to settle legacy energy sector debts in 2025, including restoring a depleted World Bank guarantee, and paying arrears to power producers. Ghana's?sector of power? has been struggling with unpaid debts, which have caused a dramatic increase in blackouts. Last year, John Dramani Mahama pledged to reduce the $2.5billion owed to independent gas and power suppliers. The ministry announced that the era of uncontrolled debt accumulation in the energy sector was over.
Saipem awarded $425 million contract to develop Turkey's largest offshore gas field
Italian engineering group Saipem won a $425-million contract to continue the development of Turkey’s largest offshore natural gas field. The contract, awarded by Turkish Petroleum OTC covers the third phase in a project for the development of the Sakarya Field, with a focus on the construction three additional?pipelines, totaling around 153 km along with subsea structures. Saipem announced in a press release that these facilities will connect the newly discovered Goktepe Gas Reserve?to Sakarya’s phase 3 facility.
Russian Oil Exporters Struggle to Stay Afloat as Discounts Deepen
Discounts on Russian oil at export terminals have once again approached historic highs, putting pressure on exporters' trade profits amid weak global oil prices, Reuters calculations show.Western sanctions over Russia's military action in Ukraine have forced its oil companies to sell crude at steep discounts, reaching $20 to $30 per barrel below Brent in December - the widest gap at Russian ports since early 2022, Reuters data indicates.The deeper discounts have eroded margins, pushing some suppliers into losses.
Australian shares drop as miners and banks fall on holiday thin trade
Australian shares dropped on Monday. The final trading week of the year began on a quiet note as banks and miners led the losses. They eased from recent highs, as holiday turnover exaggerated movements across the market. Investors returned to the market after their Christmas and Boxing Day holidays, and turnover was about half of its 30-day average. The index is up more than 7% for this year, and it's on track to achieve a third consecutive annual increase. It has risen by roughly 24% from 2022 when the last time that it logged a decline in a single calendar year.
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.
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.
Gazprom Delivers First LNG Cargo to China Post Sanctions
Russian energy giant Gazprom has delivered a liquefied natural gas cargo from Portovaya LNG plant to China, in the first such shipment since the United States introduced sanctions against the project in January, LSEG data showed on Monday.Gas carrier Valera, formerly known as Velikiy Novgorod, brought the cargo from the Baltic Sea's plant to the Beihai LNG terminal, LSEG ship-tracking data showed.Russia's largest LNG producer Novatek uses the same loading outlet in China for cargoes from Arctic LNG 2 plant.The tanker was loaded at Portovaya on October 28 and has arrived at the southern Chinese port of Tieshan…
Data shows that Gazprom has delivered the first LNG cargo to China after sanctions from Portovaya.
LSEG data revealed on Monday that Russian energy giant Gazprom delivered a cargo of liquefied gas from the Portovaya LNG facility to China. This was the first shipment since January when the United States imposed sanctions against the project. LSEG's ship tracking data revealed that the gas carrier Valera (formerly Velikiy Novgorod) transported the cargo from the Baltic Sea plant to the Beihai terminal for LNG. Novatek, the largest LNG producer in Russia, uses the same loading port in China to load cargoes from Arctic LNG 2.
Data shows that Gazprom has delivered the first LNG cargo to China after sanctions from Portovaya.
LSEG data revealed on Monday that Russian energy giant Gazprom delivered a cargo of liquefied gas from the Portovaya LNG facility to China. This was the first shipment since January when the United States imposed sanctions against the project. LSEG's ship tracking data revealed that the gas carrier Valera (formerly Velikiy Novgorod) transported the cargo from a Baltic Sea plant to Beihai LNG Terminal. Novatek, the largest LNG producer in Russia, uses the same loading port in China to load cargoes from Arctic LNG 2.
Turkey extends Russia Gas Contracts by an additional year with a view to US Investment
Turkey has finalised an extension of one year to its two gas import contracts that expire with Russia, totalling 22 bcm. It is also considering investing in U.S. production, as part of its efforts to diversify sources of energy. Turkey, Russia's final major gas market in Europe has steadily reduced the proportion of Russian gas in its gas supply mix. It has now fallen below 40%. Both contracts with Gazprom expire this year. Ankara signed separate deals to buy long-term liquefied gas (LNG), with a large part coming from the United States.
Turkey Cuts Russian Urals Oil Imports, Turns to Kazakh, Iraqi Supply
Turkey sharply reduced its imports of Russia's flagship Urals crude oil in November, shipping data from energy consultancy Kpler showed, as Western sanctions on Russian energy suppliers tightened and Turkish refineries shifted to alternative grades.Shipments of Urals to Turkey fell by 100,000 barrels per day from October levels, with total imports dropping to around 200,000 bpd last month, data from Kpler and LSEG showed.Turkey has become one of the largest buyers of Russian crude since 2022 when European buyers stopped purchases…
US LNG Exports Hit Record High in November on Cooler Weather
U.S. liquefied natural gas exports hit an all-time monthly high in November for the second straight month, driven by cooler weather and robust output from the country's two largest producers, preliminary data from financial firm LSEG showed on Monday.The U.S., the world's top LNG exporter, shipped 10.9 million metric tonnes last month, up from 10.1 mmt in October despite having one fewer day in the month, according to LSEG data.Cheniere Energy, the largest U.S. LNG exporter, boosted shipments to 4.6 mmt from its two Texas plants, compared with 4.1 mmt in October.
Lukoil to Sell International Assets
Russia's Lukoil is selling its international assets after the U.S. imposed sanctions on the company.Washington refused to approve the sale of assets to Swiss commodity trader Gunvor, throwing Lukoil's operations in disarray and leading to a scramble of potential buyers.The U.S. Treasury cleared potential buyers to talk to Lukoil until December 13. They will need separate approval for specific deals. U.S. oil major Chevron is studying options to buy some global assets of Lukoil, sources have said. U.S.
Lukoil attracts buyers for its foreign assets
The foreign assets of Russian oil giant Lukoil, which range from Egypt to Kazakhstan are attracting bidders. Time is running out for the deals to be completed before U.S. sanctions are enforced. As part of their efforts to get the Kremlin into peace talks on Ukraine, the U.S. has imposed sanctions against Lukoil. They have already blocked Lukoil’s attempts to sell foreign assets before the deadline of November 21, 2015. Sanctions have already affected Lukoil operations in Iraq and at pump stations in Finland, as well as a refinery located in Bulgaria.
The Black Sea Infrastructure is at risk, according to the Romanian National Defence Strategy
A draft national defence strategy released on Wednesday said that Romania must strengthen its ties with allies along the Black Sea to protect energy projects, which will make Romania the largest gas producer of the European Union in 2027. In the past two years, the EU and NATO member state has been repeatedly violated by Russian drones. Mines have also been spotted in the Black Sea along key trade and energy routes. Bulgaria, Romania and Georgia, along with Turkey and Ukraine, share the Black Sea, which is vital for grain, oil, and oil-based products.