Financial Market

Canadian group AltaGas reports a strong increase in financial results for the second quarter of 2025, driven by growth in its midstream activities, higher demand in Asia and the modernisation of its distribution networks.
Qatar strengthens its energy commitment in Syria by funding Azeri natural gas delivered via Turkey, targeting 800 megawatts daily to support the reconstruction of the severely damaged Syrian electricity grid.

EDP and Corporación Masaveu complete modernisation of Aboño power plant in Asturias

Unit 2 of the Aboño power plant, upgraded after 18 months of works, restarts on natural gas with a capacity exceeding 500 MW and ensures continued supply for the region’s heavy industry.
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New Zealand lifts its 2018 ban on offshore gas and oil exploration, aiming to boost energy security and attract new investment in the sector.
In response to the energy transition, Brazil’s oil majors are accelerating their gas investments. It is an economic strategy to maximise pre-salt reserves before 2035.

Tucson Electric Power plans to convert Springerville from coal to natural gas by 2030

Tucson Electric Power will convert two units of the Springerville power plant from coal to natural gas by 2030, ensuring production continuity, cost control, and preservation of local employment.
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Spire announces the acquisition of Piedmont’s natural gas distribution business in Tennessee for $2.48bn, extending its presence to over 200,000 customers and consolidating its position in the southeastern US gas market.
The state-owned oil company adjusts its rates amid falling oil prices and real appreciation, offering up to $132 million in savings to distributors.

CNOOC Limited strengthens gas capacity with Dongfang 1-1 13-3 project

The launch of the Dongfang 1-1 13-3 project by CNOOC Limited marks a milestone in offshore gas development in China, bringing new investments in infrastructure and regional production.
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Woodside Energy will operate the Bass Strait gas assets following an agreement with ExxonMobil, strengthening its position in the Australian market while maintaining continuity of domestic supply.
The EU-US agreement could create a higher energy concentration than that of Russia before 2022, threatening the European diversification strategy.

Al Shola Gas secures over $517,000 in LPG contracts in Dubai for 2025

Al Shola Gas strengthens its position in Dubai with major liquefied petroleum gas supply and maintenance contracts, exceeding $517,000, covering several large-scale residential and commercial sites.
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BW Energy and NAMCOR E&P announce the engagement of the Deepsea Mira rig for drilling the Kharas appraisal well on the Kudu field, offshore Namibia, with a campaign scheduled for the second half of 2025.
The Permian Basin has seen a drop of over 50% in methane emissions intensity over two years, according to S&P Global Commodity Insights, illustrating the impact of advanced technologies and enhanced operational management.

Naftogaz signs first Transbalkan gas deal with Azerbaijani SOCAR

Naftogaz and the State Oil Company of the Republic of Azerbaijan (SOCAR) have formalised an initial contract for natural gas delivery via the Transbalkan corridor, opening new logistical perspectives for Ukraine’s energy supply.
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Equinor postpones the restart of its Hammerfest LNG terminal by five days, a key site for European liquefied natural gas supply.
Mozambique aims to strengthen the presence of Russian companies in natural gas exploration and production as the country looks to diversify its partnerships in the natural resources sector.

Hungary asserts refusal to abandon Russian oil and gas in face of European Union

Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto states Budapest will block any European ban on Russian hydrocarbon imports, stressing the impact on household energy costs.
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The International Energy Agency anticipates an acceleration in global liquefied natural gas trade, driven by major new projects in North America, while demand in Asia remains weak.
Spanish group Naturgy reports an unprecedented net profit, driven by rising electricity prices and increased use of its gas-fired power plants since the major Iberian grid outage.
Falcon Oil & Gas Ltd announces a new record initial flow test result at the Shenandoah S2-2H ST1 well and the start of its 2025 drilling campaign in the Beetaloo Basin.
The Azule Energy consortium has identified a significant gas and condensate field during Angola’s first exploration drilling dedicated to gas, marking a milestone for the country's energy sector.

Technip Energies signs major contract for floating natural gas unit in Africa

Technip Energies has secured a contract to lead preparatory works for a floating liquefied natural gas unit in Africa, confirming its presence in the international gas infrastructure market.
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The Slovak government is seeking guarantees from the European Union to secure its supplies as talks continue over ending Russian gas and adopting a new round of sanctions.
ArcLight Capital Partners announces the acquisition of Middletown Energy Center, a combined-cycle natural gas power plant, aimed at meeting the substantial rise in energy demand from data centers and digital infrastructure in Ohio.

LNG Canada launch has no immediate effect on gas prices

The commissioning of LNG Canada, the first major Canadian liquefied natural gas export facility led by Shell, has not yet triggered the anticipated rise in natural gas prices in western Canada, still facing persistent oversupply.
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Horizon Petroleum Ltd. is advancing towards the production launch of the Lachowice 7 gas well in Poland, having secured necessary permits and completed preliminary works to commence operations as early as next August.
European Union member states have requested to keep their national strategies for phasing out Russian gas by 2027 confidential, citing security concerns and market disruption risks, according to a document revealed by Reuters.

TotalEnergies joins PJM Interconnection, the largest power grid in the United States

TotalEnergies becomes a member of PJM Interconnection, expanding its trading capabilities in North America's largest wholesale electricity market. The decision strengthens the company's presence in the United States.
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Turkey has connected its gas grid to Syria’s and plans to begin supplying gas for power generation in the coming weeks, according to Turkish Energy Minister Alparslan Bayraktar.
Despite record electricity demand, China sees no significant increase in LNG purchases due to high prices and available alternative supplies.

US natural gas production to hit historic high in 2025

US natural gas production and consumption are expected to reach record highs in 2025, before slightly declining the following year, according to the latest forecasts from the US Energy Information Administration.
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Naftogaz announces the launch of a natural gas well with a daily output of 383,000 cubic meters, amid a sharp decline in Ukrainian production following several military strikes on its strategic facilities.
Sonatrach and ENI have signed a $1.35 billion production-sharing agreement aiming to extract 415 million barrels of hydrocarbons in Algeria's Berkine basin, strengthening energy ties between Algiers and Rome.

Maple Creek Energy launches strategic RFP for US gas project

Maple Creek Energy is soliciting proposals for its advanced 1,300 MW gas project in MISO Zone 6, targeting long-term contracts and strategic co-location partnerships with accelerated connection to the regional power grid.
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VMOS signs a USD 2 billion loan to finance the construction of the Vaca Muerta South pipeline, aiming to boost Argentina's energy production while reducing costly natural gas imports.
According to a Wood Mackenzie report, Argentina could achieve daily gas production of 180 million cubic metres per day by 2040, aiming to become a key regional supplier and a significant exporter of liquefied natural gas.

Côte d’Ivoire and Eni strengthen their energy partnership with the Baleine project

Côte d'Ivoire and the Italian group Eni assess progress on the Baleine energy project, whose third phase plans a daily production of 150,000 barrels of oil and 200 million cubic feet of gas for the Ivorian domestic market.
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The extreme heatwave in China has led to a dramatic rise in electricity consumption, while Asia records a significant drop in liquefied natural gas imports amid a tight global energy context.
E.ON, together with MM Neuss, commissions Europe’s first fully automated cogeneration plant, capable of achieving a 91 % fuel-use rate and cutting CO₂ emissions by 22 000 t a year.