Financial Market

Saudi Aramco and Sonatrach have announced a reduction in their official selling prices for liquefied petroleum gas in August, reflecting changes in global supply and weaker demand on international markets.
Santos plans to supply ENGIE with up to 20 petajoules of gas per year from Narrabri, pending a final investment decision and definitive agreements for this $2.43bn project.

Malaysia commits 150bn USD for technology and LNG purchases from the United States

Malaysia plans to invest up to 150bn USD over five years in American technological equipment and liquefied natural gas as part of an agreement aimed at adjusting trade flows and easing customs duties.
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The restart of Norway’s Hammerfest LNG site by Equinor follows over three months of interruption, strengthening European liquefied natural gas supply.
Orca Energy Group and its subsidiaries have initiated arbitration proceedings against Tanzania and Tanzania Petroleum Development Corporation, challenging the management and future of the Songo Songo gas project, valued at $1.2 billion.

Turkey starts Azerbaijani natural gas deliveries to war-torn Syria

Turkey has begun supplying natural gas from Azerbaijan to Syria, marking a key step in restoring Syria’s energy infrastructure heavily damaged by years of conflict.
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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.
Japan has urgently secured several additional cargoes of liquefied natural gas from the United States to avert an imminent electricity supply shortage caused by rapidly declining national reserves expected at the end of July.
The European Commission has unveiled a proposal to prohibit the import of Russian gas into the Union, sparking intense debate on its feasibility, contractual impact and consequences for supply security among several Member States.

CNOOC Limited achieves major breakthrough in offshore exploration in the Beibu Gulf

CNOOC Limited announces the discovery of a significant oil and gas reservoir in the buried hills of the Beibu Gulf, opening new opportunities for shallow water exploration off the coast of China.
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TotalEnergies’ Mozambique LNG gas project is at the centre of a legal challenge in Washington, following the approval of a $4.7 bn loan by the US Exim Bank, amid security concerns and opposition from civil society groups.
Investors are closely watching U.S. midstream companies’ announcements regarding new gas pipeline expansions targeting promising markets in the West and Northeast, beyond traditional regions in Texas and the Southeast.

PPL Corporation and Blackstone Infrastructure launch gas partnership to power data centers in Pennsylvania

PPL Corporation and Blackstone Infrastructure announce a strategic partnership to develop new gas-fired power plants to supply electricity to data centers through long-term contracts in Pennsylvania.
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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.