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Global demand for liquefied natural gas will grow to 700 million tons annually by 2040 from 360 million tons last year, Shell said in its LNG Outlook 2021. As much as 75 percent of this demand growth will come from one regional market: Asia. Asian economies have been a key …

Russia’s government approved on Monday the country’s long-term development program for liquefied natural gas (LNG), expecting production capacity to rise threefold from current levels to 140 million tons per year by 2035. “The program is based on a comprehensive approach, aimed at diversification of gas supply sources and first of …

Renewable energy projects are expected to see a record investment at US$243 billion this year, further closing the gap with expenditure on upstream oil and gas projects, where capex is expected flat at around US$311 billion, Rystad Energy said in a recent analysis. Spending on renewable projects in 2021 is …

A concerted effort by the US gas industry to push LNG on to developing Asian nations is jeopardizing renewable-energy investment across the continent. General Electric (GE) has been working to persuade Bangladesh to buy its LNG power technology. And Vietnam’s new draft long-term energy plan’s increased focus on liquefied natural …

Oil prices fell on Monday, declining around 1% on concerns about decrease in demand for fuel products due to more European lockdowns. Brent crude was down 60 cents, or 0.9%, at $63.93 a barrel by 01:36 GMT while US oil was off by 68 cents, or 1.1%, at $60.74 a …

Saudi Aramco will ensure China’s energy security remains its highest priority for the next 50 years and beyond as new and existing energy sources run in parallel for some time, chief executive officer Amin Nasser told the China Development Forum on Sunday, March 21. Saudi Arabia, the world’s biggest oil …

Managing-Director of National Iranian South Oil Company Ahmad Mohammadi said on Monday that the company’s production has increased by 30% in the second half of the past Iranian year (ended on March 19). Speaking to IRNA, the official also predicted that the company’s production capacity will make another 10% growth …

On the eve of talks with Turkey’s president and a key EU summit, the bloc is holding back on sanctions on more Turkish oil company officials, according to media reports. “Work has stopped on additional blacklistings of Turkish individuals, and we are not talking of economic sanctions anymore,” the Reuters …

The company noted that many countries view hydrogen energy as an area essential for the implementation of national low-carbon development strategies. At the same time, hydrogen is a secondary energy source, i.e. additional energy is required to produce it, which has an effect on its cost price. However, the company …

The Global Wind Energy Council (GWEC) published a report showing that China broke the world record for most wind power capacity installed in a single year in 2020, with 52 gigawatts (GW) of new capacity — doubling the country’s annual installations compared to the previous year. “The incredible and rapid …