Ukraine

Solar growth in Central Europe has doubled that of the European Union since 2019, reshaping the energy mix and boosting battery manufacturing in the region.
Russia plans to ship 2.1 million barrels per day from its western ports in September, revising exports upward amid lower domestic demand following drone attacks on key refineries.

Hynfra signs $1.5bn framework agreement for green ammonia in Mauritania

Hynfra PSA strengthens its presence in West Africa with a $1.5bn green ammonia project, backed by the Mauritanian government, with commercial operations expected to start by 2030.
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OPEC+ begins a new phase of gradual production increases, starting to lift 1.65 million barrels/day of voluntary cuts after the early conclusion of a 2.2 million barrels/day phaseout.
The Voskhod and Zarya vessels, targeted by Western sanctions, departed China’s Beihai terminal after potentially offloading liquefied natural gas from the Arctic LNG 2 project.

OPEC+ prepares for decisive debate on quotas amid surplus risk

Eight OPEC+ members will meet to adjust their quotas as forecasts point to a global surplus of 3 million barrels per day by year-end.
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Greek shipping companies are gradually withdrawing from transporting Russian crude as the European Union tightens compliance conditions on price caps.
The Ukrainian president demanded that Slovakia end its imports of Russian crude, offering an alternative supply solution amid ongoing war and growing diplomatic tensions over the Druzhba pipeline.

Transneft strategic site targeted in Russia strike

A key station on the Stalnoy Kon pipeline, essential for transporting petroleum products between Belarus and Russia, was targeted in a drone strike carried out by Ukrainian forces in Bryansk Oblast.
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Following its acquisition of Northvolt’s assets, US-based Lyten has appointed several former executives of the Swedish battery maker to key roles to restart production in Europe.
Rosneft Germany announces the resumption of oil deliveries to the PCK refinery, following repairs to the Druzhba pipeline hit by a drone strike in Russia that disrupted Kazakh supply.

Russia targets 30 million tons of coal transported via Pacific Railway by 2026

The new Russian railway line linking the Elga mine to the Sea of Okhotsk port will reach full capacity in 2026, after an operational testing phase scheduled for 2025.
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India increased its purchases of Russian oil and petroleum products by 15% over six months, despite new US trade sanctions targeting these transactions.
Gazprom and China National Petroleum Corporation have signed a binding memorandum to build the Power of Siberia 2 pipeline, set to deliver 50 bcm of Russian gas per year to China via Mongolia.

T Plus to maintain electricity production at 57.6 TWh in 2025

Russian group T Plus plans to stabilise its electricity output at 57.6 TWh in 2025, despite a decline recorded in the first half of the year, according to Chief Executive Officer Pavel Snikkars.
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Indonesia will finalise a free trade agreement with the Eurasian Economic Union by year-end, paving the way for expanded energy projects with Russia, including refining and natural gas.
Independent power producer R.Power is selling a 440MW ready-to-build photovoltaic portfolio in Poland, as political uncertainties drive a wave of divestments in the national renewable energy market.

Putin asks Slovakia to block energy flows to Ukraine

During a meeting in Beijing, Vladimir Putin called on Slovakia to suspend its energy deliveries to Ukraine, citing Ukrainian strikes on Russian energy infrastructure as justification.
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Vladimir Putin and Robert Fico met in China to address the war in Ukraine, regional security and energy relations between Russia and Slovakia.
Saudi and Iraqi exporters halted supplies to Nayara Energy, forcing the Rosneft-controlled Indian refiner to rely solely on Russian crude in August.
The European Bank for Reconstruction and Development (EBRD) is investing 100 million euros in Green Genius, a renewable energy company, to support its expansion in Europe and strengthen the energy transition in the region.
The escalation of tensions between Israel and Iran threatens the stability of the global oil market. OPEC+ must assess its capacities in the face of a possible supply shock.

Global Gas Balance Remains Fragile Amid Limited LNG Growth IEA

The global gas balance remains precarious in 2024, with modest LNG production growth despite record demand. Geopolitical tensions sustain price volatility in European and Asian markets.
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The new Alexandroupolis LNG terminal in Greece strengthens energy diversification in Eastern Europe, thereby reducing regional dependence on Russian gas and increasing supply security.
Russia’s oil and gas revenues are expected to decrease between 2025 and 2027 due to a reduction in Gazprom’s mineral extraction tax. This revenue decline poses a significant challenge to Russia’s budget, given the sector’s large contribution to the state’s finances.

Attacks on Yemen’s Oil Infrastructure: Rising Risks for Global Energy Supply

The ports of Hodeidah and Ras Isa in Yemen have been hit by Israeli airstrikes, disrupting regional maritime transport and exacerbating geopolitical tensions in a key area for global oil supply.
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India has decided not to purchase gas from the Arctic LNG 2 project due to sanctions. This decision further isolates Russia from major Asian markets and could redefine LNG flows in the region.
TotalEnergies continues its strategy of growth in the liquefied natural gas sector by acquiring a 45% stake in Lewis Energy Group’s assets located in the Eagle Ford Basin, Texas. This acquisition is part of a series of recent moves aimed at strengthening its position in the U.S. market, already supported by its presence in the Cameron LNG liquefaction plant in Louisiana. By targeting the Eagle Ford Basin, the group gains access to an existing dry gas production, allowing it to optimize its LNG export capabilities.

Sweden Launches Ambitious Nuclear Expansion Plan by 2026

Sweden plans to begin construction of a nuclear reactor before 2026, as part of a long-term strategy to double national electricity production by 2045 through the integration of new modular reactors.
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Moscow is ramping up pressure on the investigations into the Nord Stream pipeline explosions, accusing Germany, Denmark, and Sweden of not meeting their obligations under international conventions.
Venture Global LNG reçoit le soutien de la Federal Energy Regulatory Commission (FERC) concernant des accusations de non-respect de ses engagements de livraison de gaz naturel liquéfié (GNL), malgré des différends contractuels en cours avec des entreprises comme Shell et BP.

Kazakhstan: Oil Sector Delays Hamper Growth Prospects

Kazakhstan, a major oil player in Central Asia, is facing production challenges due to delays in its key projects, limiting its ability to meet objectives and comply with OPEC+ quotas.
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Saudi Aramco has raised $3 billion via a sukuk issue, despite a drop in oil production. The funds raised are intended to support the company's dividend commitments and capital expenditure projects.
Russian Deputy Prime Minister Alexander Novak announces that Russia could lift the gasoline export ban if a supply surplus is found in a stable domestic market.

Putin strengthens ties with BRICS and OPEC+ in retaliation

Vladimir Putin has announced the strengthening of energy alliances between Russia, the BRICS and OPEC+, with the aim of stabilizing the global energy market, despite the sanctions imposed by the West in response to the conflict in Ukraine.
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Natural gas producers are urging Kamala Harris to clarify her position on LNG exports and industry regulation, while uncertainty persists over political decisions relating to hydraulic fracturing.
Belgium is pushing the European Union to adopt a coordinated ban on imports of Russian liquefied natural gas (LNG), arguing for a legal basis to speed up the phase-out of fossil fuels from Russia.

Congo and Ghana sign energy cooperation agreement

SNPC and GNPC have signed a strategic agreement to strengthen their collaboration in the oil and gas sectors, with a particular focus on energy infrastructure development and energy transition.
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The Stockholm Arbitration Court's rejection of Ziyavudin Magomedov's claim against Transneft closes a major dispute surrounding the strategic port of Novorossiisk. This decision illustrates the legal tensions in the Russian energy sector.
The development of renewable energies in Europe is creating imbalances on electricity grids. Without an increase in battery storage capacity, these imbalances risk slowing down the energy transition.