
Azerbaijan to send 1.2 billion cubic metres of gas to Syria through Turkey annually, says SOCAR
Nasirov was speaking in southern Turkey, close to the Syrian border, as Turkey and Azerbaijan launched natural gas exports to Syria.
(This story has been corrected to remove incorrect acronym bcm in headline)

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Reuters
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Harbour Energy lifts 2025 free cash flow forecast after Wintershall Dea deal
Aug 7 (Reuters) - North Sea-focused Harbour Energy (HBR.L), opens new tab raised its annual free cash flow and production forecast on Thursday, bolstered by robust production as it integrates Wintershall Dea assets, sending its shares sharply higher. Harbour Energy, the largest British North Sea oil and gas producer, completed its acquisition of the Wintershall Dea assets last year and said on Thursday the deal had driven a "step change in the scale, resilience, and longevity" of its portfolio. The company, which was created in 2021 through the merger of Chrysaor and Premier Oil, now expects to record $1 billion in free cash flow in 2025, up from a previous forecast of $900 million. It has been shifting capital away from the UK and focusing on international assets for future investments, after Britain's tax changes in late 2024 removed incentives for reinvestment. "(The UK) remains a challenging environment for us ... so long as the fiscal regime is as it is in the country, investment here just finds itself hard to compete with the opportunities we have in other countries," said CEO Linda Z. Cook. Harbour announced plans in May to cut 250 jobs, around a quarter of the workforce, at its Aberdeen-based UK unit. It launched a $100 million share buyback on Thursday, taking total shareholder distributions for the year to $555 million. Shares in the London-listed firm were up 12.7% at 230.3 pence by 0938 GMT. Harbour also lifted the lower end of its full-year production outlook to a range of 460,000 to 475,000 barrels of oil equivalent per day (boepd), from 455,000 to 475,000 boepd earlier. Production in the first half of 2025 tripled year on year to 488,000 boepd, supported by new wells in the UK, Norway and Argentina.


Reuters
30 minutes ago
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Cheniere Energy reports jump in second-quarter profit on strong LNG demand
Aug 7 (Reuters) - Cheniere Energy (LNG.N), opens new tab reported a jump in second-quarter profit on Thursday, helped by strong liquefied natural gas (LNG) demand. The U.S. is the world's largest exporter of liquefied natural gas and had shipped 11.9 billion cubic feet per day (bcfpd) of the supercooled fuel in 2024. Commercial activity in the sector has gained further momentum after U.S. President Donald Trump lifted a moratorium on new LNG export permits after taking office in January. The country exported 884.1 bcf of LNG in April and May, compared with 671.5 bcf from a year earlier, according to U.S. Energy Information Administration (EIA) data. The company's LNG revenue was at $4.52 billion in the quarter, compared with $3.04 billion a year earlier. The company reported net income attributable to Cheniere of $1.63 billion, or $7.30 per share, for the quarter ended June 30, compared with $880 million, or $3.84 per share, a year ago.


Reuters
an hour ago
- Reuters
US eyes 7% more nuclear power through restarts, upgrades
August 7 - As soaring AI use hikes demand for new power capacity, U.S. utilities are restarting mothballed nuclear plants as well as 'uprating' the capacity and extending the licences of operational reactors. A number of Big Tech companies are seeking nuclear power to provide dispatchable low carbon energy and in May President Trump rolled out several policies to increase existing nuclear capacity alongside measures to accelerate the deployment of small modular reactors (SMRs) and larger conventional reactors. Trump wants the U.S. to increase the capacity of existing reactors by 5 GW by 2030. Holtec International and Constellation are restarting two nuclear facilities with a combined nameplate capacity of 1.6 GW. NextEra Energy spoke with regional grid operators and filed notice with federal regulators to potentially restart the 600 MW Duane Arnold nuclear plant in Iowa, NextEra Energy CEO John Ketchum told Reuters in January. Restarts and upgrades could increase the country's nuclear net generation capacity by around 7% from 97 GW today, if Trump's targets are met. MAP: US nuclear power plants in operation Restarting a mothballed nuclear facility offers a faster timeline and lower upfront costs than building a new one from scratch but is still an arduous process that requires several years for planning, licensing, inspections, equipment purchases, refurbishment, workforce training and fuel management actions. Holtec is on track to restart the 800 MW Palisades nuclear plant in Michigan this year following its announcement of the project in the summer of 2022. On July 24, the Nuclear Regulatory Commission (NRC) moved Palisades from "decommissioning" to 'operating' status, ahead of schedule. Faster regulatory approval and long-term power purchase agreements (PPAs) with offtakers are important for raising funds from investors such as venture capital and private equity groups, Patrick O'Brien, Director, Government Affairs and Communications at Holtec International, told Reuters Events. Faster approvals lead to shorter project durations and lower costs and in May Trump ordered the NRC to accelerate its licensing processes. The presidential orders have led to 'improved timelines' in Holtec's dealings with the regulator, O'Brien said. Join 3,000+ senior decision-makers across energy and finance at Reuters Events Energy LIVE 2025. The process of switching the Palisades license from "decommissioning" to 'operating' was especially cumbersome for the NRC because it was a first-of-a-kind process, said Katy Huff, Associate Professor and Director, Advanced Reactor Fuel Cycles Laboratory at the University of Illinois at Urbana-Champaign. 'I expect the reviews of [Constellation's] Crane Clean Energy Center and [NextEra's] Duane Arnold plant will go more quickly,' she said. Crucial steps Holtec's signing of a long-term PPA in 2023 with Wolverine Power Cooperative in Michigan was 'the key piece' that allowed the company to move forward with the reopening of Palisades, O'Brien said. Long-term certainty helps 'put shovels in the ground and get some of these projects done,' he said. As AI demand soars, power-hungry tech groups are keen to sign long-term deals and can be willing to pay a premium for clean power, O'Brien noted. CHART: Forecast US data center electricity demand Constellation Energy is investing $1.6 billion to reopen the 837 MW Three Mile Island Unit 1 in Pennsylvania in 2027, now called the Crane Clean Energy Center, on the back of a 20-year PPA to supply clean power to Microsoft data centers. The plant could restart as early as 2027, a year ahead of schedule, following 'the approval of an early interconnection request by grid operator PJM and significant progress made on hiring, reactor operator training and major equipment purchases,' Constellation said in June. Re-staffing shuttered nuclear facilities is a 'key challenge' in the restarting process, Huff said. 'Bringing these nuclear plants back online will require a talented pool of technicians and trades workers, such as welders and electricians certified in nuclear-specific codes and standards," she told Reuters Events. "Recruiting and training staff to refurbish and run these plants may require significant effort.' Palisades had around 200 workers while it was inactive and by July Holtec was close to reaching a fully-staffed level of around 600 people. Re-staffing takes time because extensive training is necessary to 'build a culture of safety' among nuclear workers, O'Brien said. Securing community support is also essential but less challenging than in the past, O'Brien said, pointing to a June 2025 poll by the non-partisan Pew Research group that showed that about six-in-ten (59%) Americans now back new nuclear power capacity to generate electricity. Limited number While growing demand has improved the business case for restarts, most reactors that have entered the decommissioning process will not be suitable, Huff said. 'Only reactors which have been shut down recently and retain infrastructure that is largely intact stand a realistic chance of restart," Huff said. "Reactors further along in decommissioning face more substantial hurdles, primarily due to the economic requirements of refurbishment." Download our exclusive report: US Energy Strategies Under Trump 2.0 Meanwhile, Trump's goal of adding 5 GW of nuclear capacity through plant uprates by 2030 is "ambitious but possible," Huff said. The NRC approved 6 GW of uprates over the past 20 years and is currently expecting applications for a further 2 GW, she said. Constellation is 'working to secure customer commitments' to increase the capacity of its 2.3 GW Limerick Clean Energy Center in Pennsylvania by 340 MW, the company said on July 15. Duke Energy is seeking to add 300 MW of capacity in the Carolinas through power uprate projects at Catawba Nuclear Station, McGuire Nuclear Station and Brunswick Nuclear Plant, as well as a 45 MW uprate project at Oconee Nuclear Station that was finalized in 2024. 'To help meet growth needs in the Carolinas by the early 2030s, we'll have added the equivalent of a new small modular reactor by increasing the output of our existing nuclear fleet,' Steven Capps, senior vice president New Nuclear Generation and Operations Support at Duke Energy, told Reuters Events. For exclusive insights on the energy transition, sign up to our newsletter. Utilities are increasingly eager to extend the licences of existing reactors. Some 24 of the 94 operational U.S. nuclear reactors have licenses that are set to expire prior to 2035, the DOE said in 2023. Duke Energy aims to extend the operating licenses of 11 reactors it has at its six nuclear facilities – three in North Carolina and another three in South Carolina. Constellation is pursuing license renewals across its fleet of 21 nuclear reactors, including a 20-year extension for the 1.1 GW Clinton nuclear facility in Illinois, which is currently being reviewed by the NRC. Constellation's deal with Meta in June includes a 20-year PPA to provide clean power from the Clinton facility. Constellation's CEO Joe Dominguez said the partnership shows 'the relicensing and expansion of existing plants is just as impactful as finding new sources of energy.'