Energy Mix News

2025 was a year of recalibration, continuing the softness experienced since the fourth quarter of 2024. Rather than a slowdown, this period can be better described as a collective deep breath as the industry prepares for the next upcycle in the Asian Pacific region.Compared to 2024, the composite dayrates, calculated as a weighted average across size categories, declined by approximately 16% for PSVs and 14% for AHTS vessels. In tandem, utilization also softened, with the number of working vessels down 19% and 8% respectively…

Growing electricity demand from AI and data centres, together with rising fuel use in Asia and European gas needs could turn an expected global liquefied natural gas supply glut into a shortage by 2030, Qatar Energy CEO Saad al-Kaabi said on Monday.LNG coming online between 2026 and 2029 has raised concerns of a supply glut that could depress prices, with projects like Golden Pass LNG on the U.S. Gulf Coast and Qatar's North Field Expansion expected to contribute sizeable volumes."We…

ADNOC Gas has signed a long-term liquefied natural gas (LNG) supply agreement worth between $2.5 billion and $3 billion with India’s Hindustan Petroleum Corporation Limited (HPCL).The 10-year sales and purchase agreement covers the supply of 0.5 million tonnes per annum of LNG and converts a previously signed heads of agreement into a binding contract.India is now the UAE’s largest LNG customer, and by 2029 around 20% of LNG operated by ADNOC Gas is expected to be supplied to Indian buyers.

As COP30 kicks off its second week in Brazil, much has changed since the landmark Paris climate agreement was penned 10 years ago.The spirit of cooperation that once reigned has been shattered by economic rivalries and a stark divergence in climate policies among the world’s biggest polluters.The landmark UN COP21 climate agreement signed in Paris on December 12, 2015 saw 195 nations commit to setting binding targets to reduce greenhouse gas emissions to limit global warming to "well below" 2 degrees Celsius above the pre-industrial levels.

QatarEnergy has signed a 17-year sales and purchase agreement (SPA) with Gujarat State Petroleum Corporation (GSPC) for the supply of up to 1 million tons per annum (MTPA) of liquefied natural gas (LNG) to the Republic of India.Pursuant to the terms of the SPA, the contracted LNG volumes will be delivered ex-ship to terminals in India, starting in 2026.The SPA between QatarEnergy and GSPC builds on their first long-term LNG supply agreement signed in 2019.“We are delighted to extend our valued partnership with GSPC through this long-term SPA…

U.S. oil major Chevron is in early-stage talks to explore opportunities in European regasification terminals, as part of its strategy to expand its global presence in the liquefied natural gas market, a senior executive told Reuters.The U.S. has become Europe's top LNG supplier since the continent sharply reduced its imports of Russian gas following Moscow's invasion of Ukraine in 2022.Chevron, which is contracted to export 7 million tons per annum of LNG from the U.S. starting in 2026, has significantly ramped up its LNG trading operations.

JERA Co. and the Government of Montenegro have signed of a Memorandum of Understanding (MoU), to explore the development of a liquefied natural gas (LNG) terminal and an associated gas-fired plant in the country. Through this strategic partnership, the Government of Montenegro will leverage JERA’s global expertise to enhance its national energy mix, strengthen energy security, support decarbonization goals, and position the country as a major energy hub in the Western Balkans.

Aramco President & CEO Amin H. Nasser used his address at Energy Asia 2025 to deliver a pointed message: the global energy transition must be rebalanced with pragmatism, especially for fast-growing regions like Asia that are still heavily reliant on conventional energy.In his speech, Nasser said that the transition narrative of recent years — one that promised a swift, seamless move away from oil and gas — has not aligned with the realities of global demand, particularly in Asia. “We were told it would be rapid, painless, and inevitably mean the collapse of conventional energy.

Aussies are reputed to be a nation of gamblers who would bet on two flies crawling up a wall. That might be anyone’s race, but when predicting what the most popular alternative fuel will be, the odds seem to be increasingly in favor of LNG.It seems there is now a clear pathway where previously LNG was considered more of a transition fuel that didn’t have a strong presence in 2050 shipping fuels. New ambitions and new technologies are making it a stronger contender despite the…

Eni, Fincantieri and RINA have produced a new report: “Sustainable Maritime Transport Outlook” which is focused on the maritime sector and developed with the technical support of Bain & Company Italy.The study aims to contribute to accelerating the decarbonization of the maritime transport sector, in line with the Net Zero target for 2050. It forms part of the broader framework of the agreement signed on March 25, 2024, by Eni, Fincantieri and RINA, with the shared goal of establishing…

For the first time, DNV has applied its independent Energy Transition Outlook model— incorporating the latest technology trends and policy developments— to Germany.The inaugural German Energy Transition Outlook (ETO) report finds that Germany is on track to electrify nearly half of its electricity demand by midcentury. Yet, it will fall short of its 2045 climate neutrality target.One of the main advantages for Germany is that its energy mix by supply will shift dramatically. Imports comprise 70% of Germany’s primary energy and will fall to 27% by 2050…

Core Power, NorthStandard, and Lloyd’s Register (LR) jointly published Advanced Maritime Nuclear: A unique opportunity for the UK. The new paper sets out a policy framework for the UK Government to support the deployment of advanced small nuclear reactors on commercial ships and FNPPs. The report argues that the Department for Transport should include nuclear-powered shipping and FNPPs in an updated Clean Maritime Plan (CMP) and long-term nuclear strategy.In the foreword to the paper…

Abu Dhabi National Oil Company (ADNOC) will supply 2.5 million tons of liquefied natural gas (LNG) to India's Bharat Petroleum Corp under a new five-year deal, sources with knowledge of the matter said on Monday.Indian's state refiner will receive 40 cargos of LNG under the five-year contract with supplies beginning from April, the sources said.In the initial two years, supplies would be less and will be gradually ramped up, one of the sources said.ADNOC will sign the deal with BPCL during the four-day India Energy Week conference…

The 2024 represented an unprecedented year for maritime industry when it comes to orders for alternative-fueled vessels, driven mainly by liquefied natural gas (LNG), according to the latest data from DNV’s Alternative Fuels Insights (AFI) platform.A total of 515 alternative-fueled such ships were ordered, excluding LNG carriers, representing a 38% year-on-year increase compared to 2023, underscoring the industry's growing commitment to decarbonization.The growth in alternative…

Swedish wave energy company CorPower Ocean has partnered with SwitchH2, offshore floating production systems developer for the delivery of green hydrogen and green ammonia, to deliver industrial-scale floating green ammonia production facility partially powered by wave energy.With backing from Norway-based BW Offshore and Dutch Oceans Capital, SwitcH2 is leading the development of industrial-scale offshore green hydrogen and green ammonia production units based on proven FPSO (floating production…

Danish firm Cadeler has signed firm contracts, valued up to $415 million, for the transport and installation of turbines and foundations for East Anglia TWO offshore wind farm, being developed by ScottishPower Renewables, part of Iberdrola Group.The contracts, valued between $390 million and $415 million, are for the transportation and installation of 64 turbines, each rated at 15 MW, along with their foundations.The offshore works are set to commence in 2027 and will see the use of one of Cadeler’s newbuild A-class vessels…

Amasus has signed a fresh eSAIL (suction sail) contract with Spain’s bound4blue. Under the new agreement, a 22-meter unit will be retrofitted on a 90-meter, 3,000 dwt vessel at Astander Shipyard in Santander, scheduled for mid-2025. The installation will set a new benchmark as the largest suction sail system on a general cargo vessel.Amasus sealed the deal with bound4blue after assessing the impact of its first suction sails on Eems Traveller, which has been sailing with two 17-meter eSAILs since July 2023.

Greek shipowners have spent an unprecedented $18 billion on newbuild gas vessels since 2021 as companies diversify their portfolios away from traditional tanker, bulker and container asset classes according to new research by Veson Nautical's data intelligence arm VesselsValue.Approximately $13.8 billion of the figure has been spent on 59 liquefied natural gas (LNG) vessels, and approximately $4 billionn on 41 liquid petroleum gas (LPG) vessels, according to the new report, ‘Greek Speculative S&P Investments’.

Guangzhou Shipyard International's (GSI) plan to build the world's largest ammonia carrier vessel has taken a step forward.The Chinese shipbuilder has signed a joint development project (JDP) agreement with classification society Lloyd’s Register (LR) for the design of very large ammonia carrier (VLAC) with a carrying capacity of 100,000 cubic meters (cbm)—larger than a series of 93,000-cbm VLACs currently being built at Hanwha Ocean's Geoje shipyard in South Korea for Greek shipping…

OMV (Norge) has successfully completed drilling of a deepwater exploration well in the Norwegian Sea with preliminary estimated total recoverable gas volumes of between 30 and 140 million barrels of oil equivalent (mn boe).The deepwater wildcat well 6605/6-1 S is located 300km west of the Norwegian mainland at a water depth of 1,064 meters. The gas discovery, in the Haydn/Monn exploration prospects of PL 1194, is approximately 65 kilometers from the existing infrastructure of…

Australia has awarded new offshore acreage for petroleum exploration and carbon capture and storage (CCS) opportunities.The Minister for Resources and Northern Australia Madeleine King will finalize permits for Esso and Beach Energy in the Otway and Sorrell Basins, with any discovered gas to support the domestic east coast market.Exploration permits will also be finalized for Chevron, INPEX, Melbana and Woodside Energy on Australia’s west coast. In addition, 10 permits will be finalized for carbon capture and storage exploration.“As ageing coal generation comes offline in coming years…

Qatar's planned expansion of liquefied natural gas (LNG) production could see it control nearly 25% share of the global market by 2030 and squeeze out rival projects including in the United States where President Biden paused new export approvals, market experts say.Qatar, one of the world's top LNG exporters, plans an 85% expansion in LNG output from its North Field's current 77 million metric tons per year (mtpa) to 142 mtpa by 2030, from previously expected 126 mtpa.Some market experts said that the move will have an impact on global projects in the United States…

Eidesvik Offshore, together with Norwegian shipowner Agalas, has entered into an agreement to build a new construction support vessel (CSV), which is on charter with Reach Subsea.The newbuild will be equipped to perform inspection, maintenance and repair (IMR) work for subsea and offshore wind markets.Equipped with methanol engines and a battery hybrid system, the vessel will be owned by an entity to be named Eidesvik Agalas AS, where Eidesvik will be the majority owner with 50.1%.The…