Austria’s OMV is close to obtaining a stake in the development of Urengoyskoye, one of the world’s largest fields at the time of discovery in Russia’s Yamal region near the Arctic Kara Sea. A draft contract has been discussed by Gazprom chairman Alexey Miller and his counterpart at OMV, Rainer Seele that will see the […]
As the world’s top oil company, ExxonMobil does not need to worry about size when it comes to snapping up assets. The Texas-based oil giant is tipped as a potential buyer of Endeavor Energy Resources, the largest privately-held oil and gas producer in the U.S. Permian basin – a takeover could cost over $10 billion.
Rebounding oil prices are putting energy pricing reforms under pressure in some countries, with fuel subsidies creeping higher again after having fallen from a high in 2012 of more than a half trillion dollar. New IEA data for 2017 show a 12% increase in the estimated value of fuel subsidies, to more than $300 billion.
Natural gas production in the United States is hitting new records after output increased to an average 86.9 Bcf/d in October, and continues to rise. In its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) said 2018 production will average 83.2 Bcf/d, and is seen to top 89.6 Bcf/d in 2019. This supply […]
Coal exports from New South Wales, Australia, are seen entering a phase of “terminal long-term decline” as key buyers are turning away. Exports of thermal coal out of the Port of Newcastle peaked three years ago and analysts now observe a steady decline as Asian markets transition towards cheaper more sustainable renewables.
Advent International, a Boston-based private equity group, has acquired GE’s Distributed Power business and is now a stand-alone energy company, rebranded as INNIO. The transaction includes the Jenbacher and Waukesha product lines, with main operating sites in Austria, Canada and the U.S.
Fuel security has been politicized in the U.S. and PJM Interconnection has just passed a stress test, imposed by the U.S. Energy Secretary Rick Perry on all transmission system operators. Selecting 14-day period of winter weather, PJM analyzed the system under more than 300 different scenarios that might occur from 2023 onwards. “We could handle […]
New York Public Service Commission (NY PSC) has approved a petition by Consolidated Edison Company (Con Edison) for a $5 million, three-year gas demand response pilot program, one of the first schemes of its kind. Industries and large commercial customers will get financial incentives to reduce gas consumption at times of peak demand.
Strong winds and plentiful sunshine has pushed up the renewables share in Germany to 43% in January, April and May – and with an average amount of wind in Q4-2018, renewables could cover 38% over the entire year. “Clearly, renewables are in the fast lane, while the contribution of conventional energy sources to cover gross […]
Canadian oil and gas producer Encana has a made its boldest move yet, buying all shares of Newfield Exploration for US$5.5 billion and assuming US$2.2. billion of Newfield’s net debt. The takeover gives Encana premium positions in three of North America’s highest-quality, oil and liquids-weighted shale plays – the Permian, STACK/SCOOP and the Montney.
Sept 9 – HD Construction Equipment and US onsite power provider ERock have signed a mult-year deal for the supply of gas engine blocks for ERock’s so-called RockBlock generator, deployed to power data centers and critical infrastructure in Texas and beyond. ERock has a track record of supply electricity to customers like Meta and Microsoft, and has more than 400 operational sites and 1.1 GW of installed power generation base.
Oct 7 – GE Vernova today announced its goal to double the number of interns and permanent hires it brings on board in 2027, expanding its Alliance with the Massachusetts Institute of Technology (MIT).
Oct 5 – Wärtsilä has secured an order to supply a 282 MW onsite power plant for an American data center project. The decentral onsite plant will run on fifteen 50SG engines scheduled for delivery in 2028. The overall power project is expected to be operational in 2029.
Oct 2 – PacificLight Power has broken ground on a S$1.2 billion hydrogen-ready power plant on Jurong Island, Singapore, a hybrid project integrated with a dedicated battery energy storage system (BEES). With an installed capacity of 670 MW, the combined-cycle gas turbine (CCGT) plant will be Singapore’s largest and most efficient single generating unit when it starts up in 2029.
Sept 30 – Singapore households will have to pay less for gas and electricity in the fourth quarter of 2026. SP Group, Singapore’s grid operator, confirmed the household electricity tariff will fall 10.4%, or 3.32 Singapore cents (S¢) per kWh in the period between October and December 2026. Electricity prices will be at 28.59 S¢ per kWh for the fourth quarter, down from 31.91 S¢ per kWh in from July to September.
Sept 30 – Singapore households will have to pay less for gas and electricity in the fourth quarter of 2026. SP Group, Singapore’s grid operator, confirmed the household electricity tariff will fall 10.4%, or 3.32 S$cents per kWh in the period between October and December 2026. Electricity prices will be at 28.59 cents per kWh for the fourth quarter, down from 31.91 S$cents per kWh in from July to September.
Sept 28 – European gas prices at the Dutch TTF rose nearly 2.5% on Monday after US President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz, raising fears that disruptions to Middle East LNG shipments could persist into the winter. The bullishness at Europe’s benchmark gas trading hub is exacerbated by fear of gas shortages, given that gas storages are just under 70% full in key gas consuming markets such as Germany. The Dutch TTF front-month Oct26 contract was last seen trading at €74.05 per Megawatt-hour, while the Brent contract for November delivery was last seen changing hands at $108.08 per barrel.
Sept 25 – ProPetro Holding, has committed to supply 230 MW of behind-the-meter power to support Targa’s natural gas processing infrastructure in the Permian Basin. The new units bring the total contracted capacity to 510 MW, with full deployment expected in early 2028.
Sept 24 – Fitch Ratings has upgraded the credit rating of INNIO to BB from B+, with a stable outlook, following a recent upgrade by Moody’s. Analyst said these upgrades reflect INNIO’s strong operating performance and cash flow generation, supported by a growing installed base for power gen assets that helps underpin service revenues.
Sept 23 – Emerson today announced plans to build its first certified flow calibration lab and an associated automation solution service center in Qatar’s Umm Alhoul Free Zone. The new 3,500-square-metre facility will expand Emerson’s local capabilities for customers across the Middle East and Africa.
Sept 21 – MOL Group has inaugurated a new 37.4 MWp solar park and an associated electricity storage system with 20 MW of nominal power and 40 MWh of storage capacity at its Algyő site in Hungary. The hybrid power unit will strengthens the energy independence of MOL’s own operations at Algyő and reduce operating costs by replacing electricity purchased from the grid.
Sept 16 – GE Vernova is fast-tracking delivery of new 400 kV Gas-Insulated Switchgear (GIS) substation at Chesterfield, UK. The new substation is part of National Grid’s Brinsworth-to-Chesterfield and Chesterfield-to-High Marnham project, with the upgrade using SF₆-free technology to strengthen grid resilience across England and Wales in generations.
Sept 14 – Singapore’s experience in the Middle East crisis highlights the country’s exposure to external energy supply shocks. Over 95% of Singapore’s electricity generation is fuelled by imported LNG, hence diversification is paramount for supply security, said Gan Siow Huang, Singapore’s minister of trade and industry. Singapore is hence developing a second LNG terminal with a view to increasing import capacity to 15 mtpa by 2030.
Aug 31 – The number of gas-fired power plant projects, linked to US data centres, has nearly doubled in the first half of 2026. According to Global Energy Monitor, 378 MW of gas capacity is currently under development in the US, one-third of total projected capacity worldwide, led by Texas with 122 MW.
Aug 27 – GE Vernova has been chosen by Laing O’Rourke to deliver a new 400 kV Gas-Insulated Switchgear (GIS) substation at Chesterfield, UK. The new substation is part of National Grid’s Brinsworth-to-Chesterfield and Chesterfield-to-High Marnham project, with the upgrade using SF₆-free technology to strengthen grid resilience in a sustainable manner. The projects form part of The Great Grid Upgrade, the largest overhaul of the electricity grid across England and Wales in generations.
Aug 26 – Net Power has agreed to purchase 123 MW of new power generation equipment to increase the installed capacity of its Project Permian to nearly 200 MW. The gas-fired power project in West Texas is being gradually scaled up to 1 GW.
Aug 24 – Singapore’s Economic Development Board (EDB) has provisionally allocated 200 MW of new data centre capacity to Digital Realty, Equinix, Keppel Data Centres and ST Telemedia Global Data Centres, with each receiving 50 MW for facilities on Jurong Island. All sites will be developed within JTC’s planned low‑carbon data centre park on Jurong Island, and operators must source more than 50% of their capacity from green or low‑carbon energy such as biomethane, low‑carbon ammonia or hydrogen.
Aug 21 – Germany’s underground gas storage facilities are only about 50% full as of mid-August, well below last year’s roughly 67%. To achieve the targeted 70% filling levels by November, the government is preparing additional intervention options although traders remain cautious amid elevated prices and geopolitical uncertainty.
Aug 19 – A Russian air strike has damaged one of DTEK’s thermal power plant, forcing the Ukrainian operator to shut down one unit. DTEK’s thermal power fleet had an installed capacity of about 13.3 GW as of early 2022, spread across eight plants, though repeated attacks since then have destroyed much of that installed capacity, jeopardising regional electricity supply security.
Aug 17 – Wärtsilä is preparing to deliver an off-grid power solution for a new data center, under construction in Texas. The 790 MW power plant will operate with 42 Wärtsilä 50SG engines running on natural gas.
