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Highlights LNG growth fueling storage need Brownfield, greenfield projects in the mix The US natural gas market has seen substantial growth in recent years but additions of new storage capacity have not kept pace, something expected to fuel volatility as the market continues to expand to meet rising gas demand, according to industry executives at the CERAWeek by S&P Global conference. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now "If you look back at 2010 until today, natural gas demand has grown 50%. Pipeline infrastructure has only grown 25%," Toby Rice, CEO of Appalachian…

Highlights Ports, existing heavy industry enables hydrogen growth UAE example for potential future hub: strategist A well-placed hydrogen hub that utilizes existing infrastructure from high CO2-emitting facilities is the key to unlocking the potential of the commodity, industry representatives from multiple regions said March 21. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now With green hydrogen a relatively new sector, governments and policymakers are required to step in and support their development, said Nikolas Meitanis, strategy director at Abu Dhabi Future Energy Co., at a CERAWeek by S&P Global panel focused on global hydrogen…

Highlights Virginia data center load to hit 13 GW Permitting remains a constraint Power companies in the US and Europe plan to combine natural gas-fired generation with zero-emissions resources to meet expected surging power demand, executives said March 21. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Describing surging demand in Dominion Energy's Virginia and North Carolina footprint, Robert Blue, Dominion Energy chairman, president and CEO, cited surging data center demand in Northern Virginia as particularly challenging. "If you looked back a decade, we had roughly 500 megawatts of data center demand, which was…

Highlights Narrowing profit margins 'unsustainable' IRA a 'game changer,' but more work needed Renewable power is "going through a deep industry reset" in which "nobody's making any money," a New York State Energy Research and Development Authority official said during the CERAWeek by S&P Global conference in Houston March 21. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Asked how inflation in material and operations and maintenance costs have affected renewable project returns, Georges Sassine, NYSERDA vice president for large scale renewables, said, "Terribly." "What happened in New York in December, I had around…

Highlights Regulations could close price gap between sustainable and fossil fuels Low-carbon methanol, ammonia among future marine energy sources Energy efficiency measures also required to reach net zero Sustainable marine fuels could become cheaper than conventional, oil-based bunkers from 2035 when greenhouse gas emissions regulations like carbon pricing mechanisms are taken into account, Finnish technology firm Wartsila said March 21. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The EU has extended its Emissions Trading System to include maritime transportation from this year, with 40% coverage of emissions from shipping companies in voyages involving…

Faced with growing concerns about e-bike and e-scooter battery fires, a small but growing number of strata councils in the province are banning them from buildings.  “The number of strata corporations, … probably 15 or 20, have in the last year taken the position, ‘We’re not going to permit them at all,’” said Tony Gioventu, executive director of the Condominium Home Owners Association of B.C.   Read the article…………………………….

Highlights Negotiations still ongoing across industry Current QMJP offers heard at $155/mt Japan premiums supported by broader Asia premium strength The first quarterly aluminum premium contract for shipment volumes of 1,000 mt/month or more over April-June was reported at $145/mt, plus London Metal Exchange cash settlement average of the shipment month, CIF Japan. The deal was reported by a Western producer on March 21 after the Asian close. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The reported premium for this first Q2 2024 MJP deal represents an increase of about 60% from the…

Highlights Demand destruction from power, industrial sectors Emissions down 17% from 2020 levels EU carbon prices have almost halved in a year Total CO2 emissions under the EU Emissions Trading System likely slumped to their lowest in several years in 2023 as a weak macroeconomic environment led to constrained industrial activity and power demand destruction, according to estimates by analysts at S&P Global Commodity Insights. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now According to the estimates, regulated CO2 emissions from power plants and factories under the EU ETS totaled 1.123 billion mtCO2e last…

Highlights Republican lawmakers accuse IEA of becoming energy transition cheerleader US lawmakers claim IEA discouraged investment in energy supply IEA under pressure over oil demand forecasts and funding from US Republicans Senior US Republican lawmakers have attacked the International Energy Agency in a strongly worded letter dated March 20 addressed to its executive director Fatih Birol. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now A copy of the letter signed by Republicans John Barrasso, ranking member of the US Senate Committee on Energy and Natural Resources, and Cathy McMorris Rodgers, chair of the US…

If recession fears persist among energy industry leaders, it wasn’t evident in Houston on March 20 as CERAWeek by S&P Global rolled through its third day with much talk of growing demand for energy commodities, infrastructure and raw materials to facilitate the energy transition. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Upstream The difference between CERAWeek 2023 and CERAWeek 2024 is striking, said Saad Rahim, chief economist at commodity logistics giant Trafigura, speaking on the sidelines of the conference. "The mood is completely different ... it's no longer the recession talk," Rahim said.…

Texas power market participants face daunting -- but surmountable -- challenges to accelerate permitting and infrastructure completion to meet load growth driven by economic and demographic factors, experts said March 20 at a conference in Houston. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The Electric Reliability Council of Texas in December projected that under normal weather conditions load will peak in summer 2024 around 80 GW, but the system set a record of 85.4 GW in the record summer heat of 2024, when it had previously projected a summer peak of just 82.7…

Highlights Almost no premium for certified gas MiQ says LNG buyers are keen on certified cargoes US certified natural gas is selling for little to no premium because of a "gigantic" oversupply of certificates, but the demand side could pick up as LNG buyers in Europe or Asia are increasingly interested in buying certified cargoes, Georges Tijbosch, CEO of the non-profit certificate issuer MiQ, said March 20. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now From a standing start in 2022, MiQ now certifies 22 Bcf/d in the US, or around 20% of total…