Project financing

The European Union’s gas system shows reinforced resilience for winter 2025-2026, even without Russian imports, according to the latest forecast by European gas transmission network operators.
US LNG producer Venture Global saw its market value drop sharply after an arbitral ruling in favour of BP reignited concerns over ongoing contractual disputes tied to the Calcasieu Pass project.

Pembina Pipeline raises $225mn to redeem its Series 9 preferred shares

Pembina Pipeline Corporation has completed a $225mn subordinated note offering to fund the redemption of its Series 9 preferred shares, marking a new step in its capital management strategy.
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A jihadist attack targeted Palma, a strategic area in northern Mozambique, marking a return of insecurity near TotalEnergies' suspended gas project since 2021.
Fermi America has signed an agreement with Energy Transfer to secure a firm natural gas supply for powering Phase One of its HyperGrid energy campus, dedicated to artificial intelligence, near Amarillo, Texas.

Rockpoint Gas Storage raises C$704mn in Canadian IPO

Rockpoint Gas Storage priced its initial public offering at C$22 per share, raising C$704mn ($515mn) through the sale of 32 million shares, with an over-allotment option expanding the transaction to 36.8 million shares.
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Tailwater Capital secures $600mn in debt and $500mn in equity to recapitalise Producers Midstream II and support infrastructure development in the southern United States.
An economic study reveals that Germany’s gas storage levels could prevent up to €25 billion in economic losses during a winter supply shock.

New Fortress Energy initiates commissioning of 624 MW CELBA 2 power plant in Brazil

New Fortress Energy has initiated the initial ignition of its 624 MW CELBA 2 power plant in Brazil, starting the commissioning phase ahead of commercial operations expected later this year.
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Talen Energy launches $1.2bn debt financing and expands credit facilities to support strategic acquisitions of two combined-cycle natural gas power plants.
The Ukrainian government is preparing to raise natural gas imports by 30% to offset damage to its energy infrastructure and ensure supply continuity during the winter season.

Global natural gas power generation market to reach $122.49bn by 2030

Driven by rising electricity demand and grid flexibility needs, natural gas power generation is expected to grow at an annual rate of 4.8% through 2030.
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Talen Energy secures $1.2bn term financing and increases two credit facilities to support the acquisition of two natural gas power plants with a combined capacity of 2,881 MW.
Tenaz Energy finalised the purchase of stakes in the GEMS project between Dutch and German waters, aiming to boost production to 7,000 boe/d by 2026.

Sembcorp secures new 10-year contract for its Salalah power plant

Sembcorp Salalah Power & Water Company has obtained a new 10-year Power and Water Purchase Agreement from Nama Power and Water Procurement Company, ensuring operational continuity until 2037.
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Eni North Africa restarts drilling operations on well C1-16/4 off the Libyan coast, suspended since 2020, aiming to complete exploration near the Bahr Es Salam gas field.
GOIL is investing $50mn to expand its LPG storage capacity in response to sustained demand growth and to improve national supply security.

QatarEnergy acquires 27% stake in Egypt’s offshore North Cleopatra block

QatarEnergy continues its international expansion by acquiring 27% of the offshore North Cleopatra block from Shell, amid Egypt’s strategic push to revive gas exploration in the Eastern Mediterranean.
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An analysis by Wood Mackenzie shows that expanding UK oil and gas production would reduce costs and emissions while remaining within international climate targets.
Polish authorities have 40 days to decide on the extradition of a Ukrainian accused of participating in the 2022 sabotage of the Nord Stream pipelines in the Baltic Sea.
The Egyptian government is accelerating the deployment of its gas network and the conversion of vehicles to CNG, strengthening infrastructure despite a decline in domestic production.
Warsaw has filled its natural gas storage capacity to the legal maximum, marking the highest level in the European Union as regulatory discussions on energy security intensify in Brussels.

Sempra sells 45% of infrastructure subsidiary for $10bn and refocuses on utilities

Sempra divests a majority stake in Sempra Infrastructure Partners to a consortium led by KKR for $10bn, valuing the entity at $31.7bn, while launching phase 2 of the Port Arthur LNG terminal for $14bn.
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A new three-year gas import agreement will be signed between Belgrade and Moscow, as Serbia’s energy ties face growing diplomatic scrutiny from the West.
The Sri Lankan government has frozen its plan to import liquefied natural gas from India due to a lack of operational storage, delaying the initial timeline by three years and affecting bilateral energy strategies.

Europe nears 90 bcm of gas stored despite falling short of targets

European Union gas reserves reach 89.8 bcm, or 81.6% of capacity, just weeks ahead of the European Commission’s deadline to hit 90%.
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BW Offshore reached First Gas on the BW Opal FPSO for the Barossa project operated by Santos, triggering 60% of the contractual dayrate and opening the operating phase under a long-term charter.
The European Commission proposes bringing forward by one year the ban on imports of Russian liquefied natural gas, as part of a new sanctions package backed by Washington.

Cedar LNG becomes the world’s first majority Indigenous-owned LNG terminal

The Cedar LNG project, 50.1% controlled by the Haisla Nation, marks a first in the global gas industry, supported by a record C$1,4bn ($1,03bn) loan.
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Natural gas executives report delays due to turbines, steel and legal risk, even as federal approval timelines improve.
The European Commission is preparing a new sanctions package including an accelerated ban on Russian liquefied natural gas, with negotiations already underway among member states.

GasHub deploys LNG infrastructure for major food manufacturer in Singapore

H2G Green Limited’s subsidiary completed the conversion of an industrial site from diesel to liquefied natural gas, marking a shift in local manufacturing energy demand.
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Russian producer Novatek rerouted part of its gas condensate output to the port of Novorossiisk, following a temporary shutdown at its Ust-Luga complex after a drone attack caused a fire.
Despite gas stocks covering over 80% of winter needs, Kyiv must still import more to offset the impact of Russian strikes on energy infrastructure.

Brussels and Washington prepare new energy sanctions against Moscow

The European Commission and the United States plan to intensify their economic measures against Russia, targeting the energy sector and cryptocurrencies in a new sanctions package.
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The consortium led by Adnoc ends its acquisition plans for Santos, the Australian liquefied natural gas supplier, citing commercial and contractual factors that impacted the evaluation of its offer.
Eskom must restart the entire administrative process for its Richards Bay gas plant after South Africa’s Supreme Court cancelled its permit, citing insufficient public consultation.

QatarEnergy and TotalEnergies launch final phase of major gas project in Iraq

QatarEnergy, TotalEnergies and Basra Oil Company begin construction of the final infrastructure components of Iraq’s integrated gas project, mobilising more than $13bn in investments to modernise the country’s energy supply.
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Texas-based utility CPS Energy acquires four natural gas power plants from ProEnergy for $1.39bn, strengthening its footprint in the ERCOT market with operational dual-fuel infrastructure.
MCF Energy has completed drilling of the Kinsau-1A well in Bavaria at 3,310 metres, reaching its geological targets with hydrocarbon presence, reaffirming the company’s commitment to its European gas projects.