Gas prices on the European market are falling for the first time since September 2021, reaching just under 50 euros per megawatt hour on Friday. Fears of winter shortages due to Europe's dependence on Russia as an energy supplier have abated. This price decline is due to abnormally high temperatures and limited competition for liquid natural gas.

Athens and Sofia on Thursday entered into an energy alliance to diversify energy supply sources, after talks initiated by Greek Prime Minister Kyriakos Mitsotakis. The two countries are signing agreements today concerning, among other things, the storage of natural gas and the construction of a new oil pipeline.

Aksa Energy has selected GE's gas turbine technology for its new combined heat and power plant in Kyzylorda, as part of its energy transition to low-carbon technologies and Kazakhstan's net zero carbon goal. This partnership will help modernize the country's aging power infrastructure and meet the growing demand for reliable and flexible electricity.

JERA won the tender for the delivery of LNG to Bangladesh with the lowest price offered, confirming its leading position in the energy sector. Competing suppliers including TotalEnergies submitted higher offers for the same cargo.

China continues its expansion in the LNG sector with the construction of the Jiangsu Huadian Ganyu terminal. With a capacity to receive 3 million tons per year, this project is one of four approved by the central government in 2022. The construction was launched in Ganyu port, Lianyungang and is expected to be operational in 2026.