Natural Gas Utilities

The only refinery in Serbia will only continue to operate until November 25, as new crude oil deliveries have been stopped due to U.S. sanction against the Russian-owned plant operator NIS. This was reported by Tanjug News Agency on Wednesday, citing the energy minister. NIS, of which Gazprom, Gazprom and the Serbian Government each own 44.9%, operates the only refinery in Serbia, located in Pancevo. The Office of Foreign Assets Control of the U.S. Treasury placed initial sanctions on Russia's petroleum sector on 10 January and gave Gazprom a 45-day deadline to sell its NIS holdings. The sanctions had been...

Hong Kong and China stock prices rebounded on Monday sharply after a large selloff last Friday, as signs that Sino-U.S. tensions are easing boosted bets that U.S. president Donald Trump would once again retreat from his tariff threat. Investors also have their eyes on the Chinese Communist Party's leadership meeting, which will map out China's 5-year vision. On Monday, authorities released economic data for the third quarter that were in line with expectations. Hong Kong's Hang Seng Index, the benchmark index, jumped over 2% on Monday, driven by technology shares. It was its best day for two months. Both the...

CenterPoint Energy has agreed to sell its natural-gas distribution unit in Ohio for $2.62billion, in order to focus on its core electric and gas operations. In the morning trading on Tuesday, shares of National Fuel and CenterPoint both fell by a combined 4.7%. CenterPoint stated that the assets being sold include approximately 5,900 miles in Ohio of transmission and delivery pipelines serving around 335,000 metered clients. This is just the latest of a series of deals by U.S. utilities that are refocusing their efforts on regulated, higher-growth markets to meet the surge in power demand. Jason Wells, CEO of CenterPoint,...

The U.S. Energy Information Administration (EIA) said Tuesday that the Short-Term Energy Outlook, or STEO, will show record levels of natural gas production and demand in 2025. EIA predicted that dry gas production would increase from 103.2 billion cubic feet per day (bcfd) in 2024, to 107.1 bcfd by 2025, and 107.4bcfd by 2026. This compares to a record of 103.6 bcfd for 2023. The agency also predicted that domestic gas demand will increase from 90.5 bcfd, a record in 2024, to 91.6 bcfd by 2025 and 2026. The EIA forecasts from September were 106.6 bcfd in production and 91.5...

Chevron announced on Monday that the subsidiary of its Noble Energy had reached an agreement with Equatorial Guinea regarding the development and construction of the Aseng Gas Project. This will allow it to make a final investment choice. The project is located in Block I of Douala Basin and will contribute to the continued supply of liquefied gas to the global market from Central Africa. The initial investment will be around $690 million, and it will help the country achieve its ambitions of becoming a regional hub for gas processing. EQUATORIAL GUINEA SET TO LAUNCH LICENSING ROUND Equatorial Guinea and...

Elliott Management, an activist investor and Kansai electric power shareholder, has said that the Japanese utility can become a better long-term investment if it sells non-core assets, boosts profitability, and increases shareholder returns. Elliott is now one of the three largest shareholders in Kansai, Japan's largest nuclear power company by number of reactors online. The stake, which ranges between 4%-5%, was disclosed on Wednesday by a source familiar with the situation. In a Wednesday statement released from London, Elliott stated that it looked forward to working closely with Kansai's management team and other key stakeholders in order to enhance the...

Since taking office in January 2017, Donald Trump has purchased more than $100,000,000 in bonds issued by companies, states and municipalities. This is according to new disclosures that shed light on his vast portfolio. The online forms posted on Tuesday show that the former Republican real estate mogul has made over 600 financial purchases in the past 21 days, the day following his second term as President. The filing of the U.S. Office of Government Ethics on August 12 does not give exact amounts, but only a range. These include corporate bonds issued by Citigroup, Morgan Stanley and Wells Fargo...

Since taking office in January 2017, Donald Trump's disclosures revealed that he has purchased more than $100,000,000 in bonds issued by companies, states and municipalities. The online forms posted on Tuesday show that the billionaire Republican President made more than 600 financial transactions since January 21, just one day after his second term as president was inaugurated. The filing of the U.S. Office of Government Ethics on August 12 does not give exact amounts, but only a range. These include corporate bonds issued by Citigroup, Morgan Stanley and Wells Fargo as well as Meta, Qualcomm, The Home Depot and T-Mobile...

The Federal Energy Regulatory Commission announced on Wednesday that President Donald Trump has named David Rosner chairman. He had served as a member of the commission since mid-2024. Rosner's appointment as a Democrat is likely to be temporary. In June, Trump nominated two of his Republican colleagues to the commission. They are awaiting confirmation by the Senate. FERC regulates power grids, liquefied gas projects, and the interstate transportation for oil and gas. It has a maximum five-member board. Mark Christie, the Republican member, left last Thursday. After the Senate confirms Laura Swett, the president will name her as chair. Trump...

New Fortress Energy announced on Tuesday that it had requested more time to file its second quarter report, ending June 30. The company cited ongoing discussions about additional credit support needed under one of its loan agreements. The shares of the U.S. based company that produces liquefied gas fell nearly 5% at first trading. New Fortress stated in a filing to the U.S. Securities and Exchange Commission that the timing of the resolution of the discussions was uncertain and could have an impact on how the long-term debt and disclosures related to it are presented. It is also necessary to...

The Spanish power utility Naturgy announced on Tuesday that it had sold approximately 5.5% of its stock through an accelerated sale and a bi-lateral sale, as part of a plan to increase the free float of its shares and return to its main indexes. A bookbuilding accelerated, which opened on Monday, raised 500 million Euros ($577.30 Million) by selling 2% of the company's shares at 25,90 euros. Morgan Stanley advised on the bookbuilding. The company did not disclose the price of each share. In another transaction, Naturgy sold 3.5% its shares to a "financial entity" that was unidentified. The company...

Enbridge, the Canadian pipeline operator, beat analyst's expectations for its second-quarter profits on Friday. This was boosted by earnings from newly acquired U.S. utilities and from its gas distribution business. The company announced that it had sanctioned the expansion of Aitken Creek, a gas storage facility located in British Columbia to accommodate the growing demand for LNG on the west coast of Canada. It also said that Line 31 would be expanded by 160 million cubic feet a day in the U.S. Southeast. Pipeline operators benefit from a rise in natural gas demand, driven primarily by LNG exports and rising...

Russia, which is the second-largest oil exporter in the world, is considering how it will respond to U.S. sanction against top oil companies Rosneft, and Lukoil, and to the possibility of reduced sales to India, its largest buyer. Since months, President Donald Trump and Vladimir Putin have been discussing a way to end the conflict. However, there has not yet been a breakthrough. What did the U.S. do? The U.S. Department of the Treasury’s Office of Foreign Assets Control, or OFAC, imposed sanctions against Rosneft, Lukoil and several of their subsidiaries on October 22, while calling on Moscow to agree...

Ilya Rebrov, the deputy director general of Rosatom's Chinese division, was quoted on Thursday as saying that Rosatom had made significant progress in placing bonds on the Chinese market. Interfax reported that Rebrov stated that a placement would take months or even weeks. He said that despite the "pressure" Russian industry was under, Rosatom managed to get a rating by a Chinese credit rating agency. It also took decisions which had brought it closer to its goal of being able raise debts in China. Atomenergoprom, Rosatom's power unit, received a "AAA" credit rating in April from China's Dagong Global Capital...

Germany and Canada agreed to intensify their cooperation in the area of critical minerals on Tuesday amid global concerns about China's export restrictions and Berlin's efforts to reduce dependence on a single source. Minerals like copper, tungsten and gallium are essential for Canada's and Germany’s advanced manufacturing, defence technologies and clean energy technologies. China's decision in April to stop exports of rare Earths and magnets related to them has disrupted the global supply chain, causing a major blow to automotive, aerospace, semiconductor, and military contractors. German Economy Minister Katharina Riede and Canada’s Energy and Natural Resources minister Tim Hodgson have...

Two people with knowledge of the situation said that Berlin was considering extending its trusteeship for the sixth time over the German assets owned by Russian oil producer Rosneft, as the efforts to sell this business continue. The renewed trusteeships put pressure on Berlin to create a more suitable legal structure for Rosneft’s activities in Germany. This situation is emblematic for the challenges Berlin faces when dealing with Russian assets located in Germany, at a moment when efforts are intensifying to end the conflict in Ukraine. In September 2022, the German assets of Rosneft, including the Schwedt refinery, MiRo refinery,...

Dmitry Medvedev, the former Russian president, said that the framework agreement between the European Union (EU) and the United States is "anti-Russian", comparing it to a ban de facto on the purchase of Russian oil and natural gas. On Sunday, the U.S. and the EU reached a deal that imposes a 15% tariff on the majority of EU goods. Ursula von der Leyen said, in a subsequent statement, that the agreement will help the EU phase out Russian fossils fuels and replace them with American alternatives. The purchase of U.S. Energy Products will help to diversify Europe's supply sources and...

Robert Fico, the Prime Minister of Slovakia, said that Slovakia would stop blocking approval of the 18th set of sanctions by the European Union against Russia this Friday. Fico said that the Slovakia has achieved all it can at this stage, after repeatedly blocking the EU approval of sanctions to demand guarantees for damages it fears will result from a separate EU Plan to stop all gas imports to Russia by 2028. Fico stated in a Facebook video that it would be counterproductive at this point to continue blocking the 18th package of sanctions tomorrow. EU diplomats have confirmed that...

A letter obtained by revealed that the European Commission would work to address Slovakia’s concerns about the EU’s plan to phase-out Russian gas imports. This comes as Brussels tries to reach an agreement on new EU sanctions towards Russia. The Slovakian government has blocked the latest EU sanctions against Russia over its invasion of Ukraine, until it is satisfied that the EU's separate proposal to phase-out imports of Russian Gas by January 1, 2020 has been addressed. Slovakia claims that stopping Russian gas production could lead to shortages, an increase in transit fees and prices, as well as damage claims...

Aleksandar Vucic, Serbia's populist president and a friend of Moscow, visited Odesa in Ukraine on Wednesday for a regional conference. It was the first visit to the country by the leader during his 12-year tenure. Vucic’s office released a statement saying that he will travel to Ukraine to attend the Ukraine-Southeastern Europe Summit at the Black Sea Port of Odesa. This week, Odesa was the target of a Russian drone attack and missiles. The summit was expected to bring together senior politicians from 12 nations in Southeastern Europe. Gazprom, Gazprom NEFt and Gazprom are the majority owners of the only...

The company announced on Tuesday that Alfred Stern, Chief Executive Officer of Austrian oil-and-gas group OMV, has decided to not run for reelection when his current term expires on August 31, 2026. Stern is CEO of the Vienna-based firm since September 2021. He previously ran the Borealis division, and tried to steer it away from fossil fuels toward sustainable fuels and chemical. In March, he oversaw the merging of Abu Dhabi National Oil Company with OMV's Polyolefin business, creating Borouge International, a chemical powerhouse with a $60 Billion enterprise value. The merger should be completed in the first quarter 2026....

What are the possible contours of a peace agreement between Russia and Ukraine? SECURITY GUARANTEE Ukraine, which has been subjected to a full scale invasion in 2022, and witnessed Russia annex Crimea, needs security guarantees from major powers, primarily the United States. The Budapest Memorandum of 1994, in which the U.S., Russia and Britain agreed to refrain from using force against Ukraine and respect Ukrainian sovereignty was not enough for the Ukrainian government. The powers agreed to take the matter to the United Nations Security Council in the event of an attack on Ukraine. Sources involved in the talks say...

Aleksandar Vucic, the president of Serbia, said that his country is committed to joining the European Union. He also wants to accelerate its application for membership. Vucic visited Russia for a celebration of the 80th Anniversary of World War II Victory on May 8-9. There, he also met with Vladimir Putin, the leader of Russia and Chinese President Xi Jinping. Vucic, who met Antonio Costa, President of the European Council on Tuesday, said that Belgrade wanted to accelerate its European Integration and open more negotiations with the bloc. "The atmosphere in the EU is not great, as I was convinced...

EU officials say that European officials have given up on pushing for an import ban of Russian liquefied gas in the bloc as part of upcoming packages due to resistance from certain governments and the uncertainty over alternative sources. The Commission instead wants to create a road map that will end the EU's dependence on Russian energy in 2027. The plan will be announced early in May, but there are few details. Officials say that the work on the measures has been slow. The Commission will likely propose a 17th set of sanctions against Russia in June. In January, when...