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After reaching around 124 billion cubic metres (bcm) this year, Fitch forecasts LNG import volumes to fall year-on-year up until 2025, hitting an annual low of 114 bcm that year, before growth flips back into positive territory. “Several factors are at play. On the one hand, demand growth – while …

Russian gas company Gazprom missed its own “conservative” target for 2021 exports to Europe, and those capped flows contributed to the continent’s worst energy supply crunch in decades. Gazprom delivered 185.1 billion cubic metres to its main clients abroad, including Turkey, China and the EU, excluding former Soviet Union nations …

OPEC ministers are due to hold a meeting on Monday to discuss the appointment of a new secretary general, two OPEC sources said, with Kuwait’s candidate for the job holding widespread support from the group. Haitham al-Ghais, a former Kuwaiti governor to the Organization of the Petroleum Exporting Countries, is …

The 271-metre-high wind turbine in Thy can deliver electricity for 18,000 households, but will be eclipsed by competitors by the end of this year. Denmark, one of the acknowledged international leaders in wind power, has launched the world’s largest wind turbine. The turbine spanning 271.4 metres measured from the ground …

Iran’s Deputy Oil Minister Ahmad Asadzadeh has said his ministry is completely ready for cooperation with the countries in the region, especially the Persian Gulf Arab nations, IRIB reported on Sunday. “At the Oil Ministry, we are fully prepared to cooperate with the countries in the region and the Arab …

China will continue to be the global leader in renewable energy capacity growth over the next five years, despite phasing out renewable subsidies and the country’s heavy reliance on coal, which will remain unchanged in 2022, according to analysts. The global renewable energy sector saw strong growth in the past …

U.S. natural gas is in for another wild year as the insularity that once shielded North American energy consumers from overseas turmoil disintegrates. Benchmark American gas futures climbed almost 45% in 2021 for the strongest annual performance in half a decade after a deadly freeze that crippled output was followed …

The EU is planning to label energy from nuclear power and natural gas as “green” sources for investment despite internal disagreement over whether they truly qualify as sustainable options. The proposal, seen by AFP on Saturday, aims to support the 27-nation bloc’s shift toward a carbon-neutral future and gild its …

The Energy Information Administration (EIA) Data showed, on Saturday, that Iraq exported 268 million bpd of oil to the United States in the past week. EIA stated in a report, “U.S. imports oil 6.170 million bpd in the past week.” The top three source countries of U.S. import oil are …

Turkey raised the price of both electricity and natural gas on Saturday, New Year’s Day, Bloomberg reported. The price increase comes amidst a surge in global energy prices. For electricity, prices have increased between 52% and 130% for households, according to an estimate from Haberturk newspaper. In a statement issued …