South Korea

Menlo Digital has started construction on its MD-DC1 data centre in Herndon, marking a key step in its national development programme exceeding 1.8 GW.
Venezuela demands full financial compensation for any gas exports from the offshore Dragon field, reactivated following U.S. authorisation granted to Trinidad and Tobago.

Washington hits Rosneft and Lukoil, EU tightens, Brent climbs

U.S. sanctions targeting Rosneft and Lukoil trigger a rebound in oil, while the European Union prepares a clampdown on liquefied natural gas and maritime logistics, with immediate repercussions for markets and Russia’s export chain.
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Vema Hydrogen has been named a qualified supplier by the First Public Hydrogen Authority to deliver clean hydrogen at industrial scale to California’s public and private infrastructure.
NANO Nuclear strengthens its North American strategy by acquiring Global First Power in Canada, securing regulatory rights for its KRONOS MMR™ project at Chalk River.

Vistra acquires 2.6 GW gas portfolio from Lotus Infrastructure

Vistra Corp. finalises the purchase of seven natural gas power plants totalling 2.6 gigawatts, strengthening its presence in key US electricity markets.
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Rising responses to UNEP’s satellite alerts trigger measurement, reporting and verification clauses; the European Union sets import milestones, Japan strengthens liquefied natural gas traceability; operators and steelmakers adjust budgets and contracts.
Buffalo Biodiesel CEO Sumit Majumdar expands his reach in private equity by joining Verite Capital Partners, a firm focused on backing growth companies and underserved markets.

T1 Energy raises $72mn through direct offering to US institutional investors

T1 Energy secured $72mn via a direct offering of over 22 million common shares, aiming to strengthen its cash position and fund energy technology and infrastructure projects.
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US developer Cypress Creek Renewables has closed financing for the Sundance project, combining 75MWac of solar with 200MWh of storage, with commissioning expected by late 2026.
US-based solar developer Ampliform secured a loan facility of up to $165mn to support large-scale energy projects in key regional markets, with a focus on the PJM grid.

Arizona State University launches global energy institute with $50mn donation

The American university unveils a new institute focused on the future of energy, funded by a $50mn gift from Robert Zorich, managing partner of EnCap Investments, to support applied research and training of new experts.
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More than 75 solar projects in the United States were tax-sheltered in Q2 through GameChange BOS transformers, responding directly to new U.S. Treasury requirements.
U.S. gas deliveries to Mexico reached 7.5 billion cubic feet per day in May, driven by rising demand in the power sector and new cross-border interconnections.

US wind installations drop 15% but rebound expected in 2027

US wind capacity fell in Q2, but developers anticipate a sharp increase by late 2025, with 46 GW of new capacity forecast by 2029 and a peak in 2027.
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South Korea becomes the first country to submit a safeguards technical report to the IAEA for a small modular reactor, setting a precedent for early integration of non-proliferation requirements in nuclear design.
The new Liberal Democratic Party (LDP)–Japan Innovation Party (Nippon Ishin no Kai) axis combines a nuclear restart, targeted fuel tax cuts and energy subsidies, with immediate effects on prices and risk reallocations for operators. —

OPEC production uncertainty keeps global oil market from deeper slide

As Brent hovers near $60, growing opacity around OPEC’s output restrains a steeper decline in crude prices amid surplus warnings by the International Energy Agency.
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Engie has signed a renewable electricity supply contract with Apple covering 173 MW of installed capacity in Italy, with commissioning scheduled between 2026 and 2027.
Doha and Washington warn Brussels about the consequences of EU sustainability requirements on liquefied natural gas exports, as the continent’s energy security remains under pressure.
Energy Fuels has completed a $700mn fundraising through 0.75% convertible notes, aimed at supporting its rare earth and uranium projects.
Baker Hughes has secured a contract from Bechtel to provide gas turbines and compressors for the second phase of Sempra Infrastructure’s LNG export project in Texas.

CPP Investments injects $1 billion into AlphaGen to support AI-driven energy growth

The Canadian pension fund takes a strategic minority stake in AlphaGen, a 11 GW U.S. power portfolio, to address rising electricity demand from data centres and artificial intelligence.
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The halt of US federal services disrupts the entire decision-making chain for energy and mining projects, with growing risks of administrative delays and missing critical data.
Targa Resources will build a 500,000 barrels-per-day pipeline in the Permian Basin to connect its assets to Mont Belvieu, strengthening its logistics network with commissioning scheduled for the third quarter of 2027.

Washington pushes higher biodiesel quotas to support soybean producers

A bipartisan group of 47 lawmakers is calling on the US Environmental Protection Agency to maintain high biodiesel quotas to support local agriculture affected by falling exports to China.
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California lifts its ban on E15 fuel, opening its vast market to the ethanol-gasoline blend in a bid to lower prices and expand consumer options.
Clean Energy Technologies and RPG Energy Group completed the installation of an Organic Rankine Cycle heat recovery system at a major industrial site in Tennessee.

BlackRock and Canada Pension Plan finalise $6.2bn Allete buyout with Minnesota approval

Minnesota’s public regulator has approved the $6.2bn acquisition of energy group Allete by BlackRock and the Canada Pension Plan, following adjustments aimed at addressing rate concerns.
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The Swiss chemical group faces two new lawsuits filed in Germany, bringing the total compensation claims from oil and chemical companies to over €3.5bn ($3.7bn) in the ethylene collusion case.
The US Supreme Court will hear ExxonMobil’s appeal for compensation from Cuban state-owned firms over nationalised oil assets, reviving enforcement of the Helms-Burton Act.

Major fire contained at Chevron’s El Segundo refinery, investigation underway

A major fire has been extinguished at Chevron’s main refinery on the US West Coast. The cause of the incident remains unknown, and an investigation has been launched to determine its origin.
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Chevron has appointed Bank of America to manage the sale of pipeline infrastructure in the Denver-Julesburg basin, targeting a valuation of over $2 billion, according to sources familiar with the matter.
Hungary has signed a ten-year agreement with Engie for the annual import of 400 mn m³ of liquefied natural gas starting in 2028, reinforcing its energy diversification strategy despite its ongoing reliance on Russian gas.

China could supply gasoline to Russia if Moscow removes import duties

The potential removal by Moscow of duties on Chinese gasoline revives export prospects and could tighten regional supply, while Singapore and South Korea remain on the sidelines.
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Facing a potential federal government shutdown, multiple US energy agencies are preparing to suspend services and furlough thousands of employees.
EDF power solutions and El Paso Electric have started operations at the Milagro Energy Center, combining 150 MW of solar photovoltaic capacity and 75 MW of battery storage under a 20-year power purchase agreement.

U.S. uranium purchases reach 55.9 million pounds in 2024

Uranium deliveries to U.S. civilian operators rose 8% in 2024, while the average price climbed to its highest level since 2012, according to the latest available data.
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Coal will temporarily become the main source of electricity in the Midwest markets MISO and SPP during winter, according to the latest federal forecasts.
Kinshasa replaces export ban with a quota system covering just half of its output, triggering a price surge and global supply tensions.