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Highlights Brazil LNG prices track Northwest Europe US volumes to land in Brazil this month LNG prices in Brazil rallied in line with strength seen across the Northwest European markets to reach a record high against the Dutch TTF gas price. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Platts, part of S&P Global Commodity Insights, assessed DES Brazil LNG for delivery 15-45 days forward at $8.895/MMBtu March 18, hitting parity to the Northwest European LNG marker. The price was also a 24.5 cents/MMBtu discount to the TTF physical price, the narrowest the discount…

An expected power supply shortage in China's Yunnan province in 2024 could slow down primary aluminum capacity transfer to the region, an industry trend that had strengthened over the past few years due to the province's clean energy capabilities, and is now facing a pushback amid rising power supply issues. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Yunnan is rich in hydropower generation but would be facing tight electricity supply in 2024, with the power shortage expected to reach 27 billion KWh, a latest report from state-backed Kunming Power Exchange Center said. Due…

Highlights Idemitsu aims to turn Fuji Oil into an equity-method affiliate JERA to be second largest shareholder, followed by KPC, Saudi Arabia Idemitsu lifts 60%-70% of Fuji Oil's oil products output Japan's second largest refiner Idemitsu Kosan will boost its stake in refiner Fuji Oil to 13.04%, the company said March 19, in a move that will boost competitiveness in its bilateral oil products business and enhance cooperation toward 2050 carbon neutrality. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Under an agreement, Idemitsu will acquire all of Sumitomo Chemical's 6.46% stake in Fuji…

Highlights Expansion of America's energy dominance continues Surging investment into EVs, renewables, manufacturing The US is undergoing an "undeniable" shift toward cleaner sources of energy despite an equally indisputable need to secure fossil fuel supplies for the foreseeable future, US Energy Secretary Jennifer Granholm said March 18 at the CERAWeek by S&P Global symposium in Houston. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now "And these truths are not in conflict," Granholm said. "The momentum of the clean energy transition is undeniable. Even as we are the largest producer of oil and gas in…

Highlights Mainly from AI, cloud capacity, re-domestication Permitting, transmission, labor get in the way US power demand is expected to grow substantially in the coming years driven by electrification as part of the energy transition, and for NextEra that means doubling its operating generating capacity by the end of 2026, NextEra Chairman, President and CEO John Ketchum said March 18. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NextEra currently has 34 GW in operation and plans to boost that to 64 GW by the end of 2026, Ketchum said at the CERAWeek energy…

Highlights Emissions has created large opportunities North America will grow into the next decade Contractors can offer fewer but better products North America has time left for fossil fuels, maybe 80 years or more, even as oil and gas' share of the energy mix recedes amid the energy transition, a panel on decarbonization said March 18. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The vast effort needed to cut back on emissions is creating new technologies, which in turn requires more sophisticated computing and related products to meet goals, Bart Cahir, ExxonMobil's senior…

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Highlights Supply chain investments required: speakers Natural hydrogen is 'high risk, high reward' The challenge of creating low-carbon hydrogen and making it affordable calls for openness to all so-called hydrogen "colors" and continued supply chain investments, speakers said at a March 18 panel. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now There is no such thing as a totally clean pathway towards clean hydrogen production, not even with "green" hydrogen production, said Stanford University Hydrogen Initiative Co-Managing Director Naomi Boness at the CERAWeek by S&P Global conference in Houston. For example, there are emissions…

Highlights $85/t 45Q credit 'not enough' to incentivize industrial sector: executive Transporting emissions and direct air capture, among solutions discussed Cost-effective carbon capture portfolios, key to scaling the industry Operators are committed to reaching net zero goals outlined in the Inflation Reduction Act by tackling carbon emissions through large scale storage projects, but current incentives have failed to rally industries behind the proposed carbon solution. Challenges in scalability and commercial appeal persist, with cost remaining a primary barrier to widescale deployment, company executives said March 18. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now…

Highlights AI already used with seismic processing Huge opportunity to 'bend cost curve' Finding low-carbon solutions The most exciting real value for artificial intelligence in the energy industry is going to be found in production and operations, the CEO of information technology services and consulting firm Accenture, said March 18. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now In exploration, the industry is already seeing AI being done with seismic processing, Julie Sweet, also Accenture's chair, said at the CERAWeek energy conference by S&P Global in Houston. "In capital projects, when you think about…

Highlights Aluminum industry accounts for 5% of China's total CO2 emissions To curb industry's heavy emissions from thermal power consumption Yet to announce how emission allowances will be allocated to smelters The Chinese government opened consultation for the emission accounting, reporting and verification guidance for aluminum smelters, paving the way to enroll another industry into its national compliance emission trading scheme, Ministry of Ecology and Environment said in a notice late March 15. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now China owns the world's largest ETS, with 5.1 billion mt of CO2 emissions…

Highlights Dual-fuel engine orders grew from 35% in 2021 to 56% in 2022 Demand for LNG engines to "stay robust" despite volatile gas markets To grow headcount in Singapore to around 400 by 2027 MAN Energy Solutions expects the order book for dual-fuel engines to ratchet, with around 85% of all ship engines ordered in 2030 to be dual-powered, as the global shipping industry speeds up maritime decarbonization efforts, its Singapore Managing Director Nicolas Brabeck said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The 2030 estimates compare to just around 35% dual-fuel engines…