Ukraine hopes to make €1.5 billion from electricity exports to the European Union by the end of the year and earn to more in the future after obtaining the right to export its energy there, a Ukrainian energy ministry adviser said on Wednesday (8 June). Former Soviet Ukraine’s electricity grid …

Based on current projections, energy prices are expected to rise by 50 percent in 2022, reflecting an 81 percent increase in coal prices, a 74 percent rise in natural gas prices (average of the European, Japan, and U.S. benchmarks), and a 42 percent increase in the price of oil, Trend …

Some of the biggest international oil and gas majors, including ExxonMobil, Shell, and TotalEnergies, are expected to be awarded stakes in the major expansion projects of one of the world’s top LNG exporters, Qatar, sources familiar with the matter told Bloomberg on Tuesday. Qatar announced last year the world’s largest …

New planned LNG import facilities in the EU – especially in Germany, Italy, Greece, and the Netherlands – could supply a quarter more gas to the EU than before, with Italy ramping up gas imports and production and deviating from climate objectives, a report from the Climate Action Tracker (CAT) …

Environmental groups are starting legal action against the EU’s plans to fast-track funding and permits for 30 proposed gas projects. ClientEarth, Friends of the Earth Europe, Food & Water Action Europe and CEE Bankwatch Network believe the EU Commission has given “these climate-destructive projects VIP status, in contradiction of its …

U.S. natural gas prices tumbled after a fire broke out at a Texas export terminal, threatening to leave supplies of the fuel stranded in shale basins despite surging overseas demand. The fire is under control at Freeport LNG’s terminal in Quintana, Texas, about 65 miles (105 kilometers) south of Houston, …

QatarEnergy and Chevron Phillips Chemical Company (CPChem) have announced awarding the early site works contract for the Ras Laffan Petrochemical Project (RLPP), marking the commencement of execution of the RLPP. Consolidated Contractors Company (CCC) has been selected as the contractor to undertake this work and was awarded a lump-sum contract …

At last week’s meeting, the OPEC+ group agreed to increase production for July and August by 216,000 barrels a day to 648,000 barrels, instead of the earlier 432,000 bpd threshold, thus doing its part to ease pressure on oil prices that have stabilized at high levels in recent weeks. The …

Rising costs and sanctions on Russia have lowered the profitability of oil exports for Kazakhstan’s state oil and gas firm KazMunayGas, which has been forced to accept discounts on its crude being carried via the Russian pipeline network. The CPC pipeline carries oil from Kazakhstan’s Tengiz oilfield to export infrastructure …

The UAE secured 32.1 percent of Japan’s crude oil needs in April, as the country’s imports of crude oil from the UAE reached 28.08 million barrels in April 2022, said the Agency for Natural Resources and Energy in Tokyo. The agency, part of the Japanese Ministry of Economy, Trade and …