Latest news with #energymarket
Bloomberg
4 hours ago
- Business
- Bloomberg
UK Gas Storage Capacity to Drop This Winter After Loss at Rough
The UK's top natural gas storage facility will be back to producing and not stockpiling fuel this winter, a shift that leaves the country without an important buffer against potential supply disruptions. Operator Centrica Plc said losses from the Rough storage facility are not 'sustainable' heading into next year. That's a blow to the market, which remains tight and prone to sharp price moves even though fuel imports have helped the UK avoid any physical shortages in recent years.
Zawya
8 hours ago
- Business
- Zawya
Global natural gas demand growth set to accelerate in 2026:IEA
PARIS: Following a slowdown in 2025, growth in global demand for natural gas is expected to rise in 2026, according to the IEA's latest quarterly Gas Market Report. The report provides a short-term outlook for natural gas supply, demand, trade and more in 2025 and 2026. It finds that market fundamentals remained tight in the first half of 2025 due to a combination of lower Russian piped gas exports to the European Union, relatively modest growth in liquefied natural gas (LNG) output and higher storage injection needs in Europe. In this context, and amid elevated macroeconomic uncertainty, global natural gas demand growth is forecast to slow from 2.8% in 2024 to around 1.3% in 2025. The increase this year is expected to be almost entirely driven by North America and Europe, with the growth in consumption in the Asia-Pacific region – where many markets tend to be sensitive to higher prices – falling to its weakest annual rate since the energy crisis in 2022. The report sees global demand growth picking up again in 2026 and accelerating to around 2% as a considerable increase in LNG supply eases market fundamentals and fosters stronger demand growth in Asia. In 2026, LNG supply is set to rise by 7%, or 40 bcm – its largest increase since 2019 – as new projects come online in the United States, Canada and Qatar. The report includes a special section on the role of the Middle East in global gas markets, noting that geopolitical tensions in the region have fuelled recent price volatility. 'The backdrop for global gas markets is shifting as we enter the second half of this year and look towards 2026. The wave of LNG supply that is set to come online is poised to ease fundamentals and spur additional demand, especially in Asia,' said IEA Director of Energy Markets and Security Keisuke Sadamori. 'However, our latest forecast is subject to unusually high levels of uncertainty over the global macroeconomic outlook and the volatile geopolitical environment. The IEA continues to monitor gas markets closely and to work with stakeholders around the world to support security of supply.' In the first half of 2025, global natural gas consumption in Europe increased by 6.5% year-over-year, primarily supported by the electricity sector amid lower power generation from wind and hydro. While this should not be interpreted as a structural trend, such episodes highlight the key role gas-fired power plants often play in ensuring electricity supply security in markets with higher shares of variable renewables.
Yahoo
11 hours ago
- Business
- Yahoo
New renewable projects now cheaper than fossil fuel alternatives: IRENA report
The International Renewable Energy Agency (IRENA) has confirmed that renewable power generation costs have continued to outcompete fossil fuel alternatives in 2024. The agency's latest 'Renewable Power Generation Costs in 2024' report highlights that 91% of new renewable projects were more cost-effective than new fossil fuel alternatives last year, with onshore wind and solar photovoltaics (PV) leading the charge. The report details that solar PV costs were on average 41% lower than the least expensive fossil fuel options while onshore wind projects were 53% cheaper. Onshore wind remained the most affordable source of new renewable electricity at $0.034/kWh, followed closely by solar PV at $0.043/kWh. This cost leadership has been driven by factors such as technological innovation, competitive supply chains, and economies of scale. Adding 582 gigawatts (GW) of renewable capacity in 2024, these energy sources have led to substantial cost savings by avoiding fossil fuel consumption valued at approximately $57bn. Renewables have proven not only to be cost-competitive but also beneficial in reducing dependence on international fuel markets and enhancing energy security, thus strengthening the business case for their adoption. Despite the optimism, the report acknowledges short-term challenges that could potentially increase costs. Geopolitical shifts, including trade tariffs, raw material bottlenecks, and evolving manufacturing dynamics, especially in China, are among the risks identified. Higher costs are anticipated to persist in Europe and North America due to structural challenges such as permitting delays and limited grid capacity. The report also underscores the importance of stable and predictable revenue frameworks to reduce investment risk and attract capital. It notes that financing risk mitigation is crucial for scaling up renewables, with instruments such as power purchase agreements (PPAs) being instrumental in accessing affordable finance. Conversely, inconsistent policy environments and opaque procurement processes can undermine investor confidence. Integration costs are highlighted as a new barrier to renewable deployment, with grid connection bottlenecks and slow permitting processes causing delays in wind and solar projects. This issue is particularly acute in G20 and emerging markets, where grid investment must align with the growing electricity demand and renewable expansion. Financing costs remain a decisive factor in renewable project viability, with high capital costs in developing countries inflating the levelised cost of electricity (LCOE) due to macroeconomic conditions and perceived investment risks. For instance, IRENA found that in 2024, onshore wind generation costs were similar in Europe and Africa at around $0.052/kWh, but the cost structures varied significantly due to differing capital expenditure and financing costs. Technological advances beyond generation are also enhancing the economics of renewables. The cost of battery energy storage systems (BESS) has plummeted by 93% since 2010, reaching $192/kWh for utility-scale systems in 2024. These reductions are attributed to manufacturing scale-up, improved materials, and optimised production techniques. Battery storage and hybrid systems, along with AI-enabled digital tools, are becoming increasingly important for integrating variable renewable energy. However, challenges such as digital infrastructure, flexibility, and grid expansion and modernisation must be addressed, particularly in emerging markets, to fully realise the potential of renewable energy. IRENA director general Francesco La Camera said: 'New renewable power outcompetes fossil fuels on cost, offering a clear path to affordable, secure, and sustainable energy. This achievement is the result of years of innovation, policy direction, and growing markets. 'However, this progress is not guaranteed. Rising geopolitical tensions, trade tariffs, and material supply constraints threaten to slow the momentum and drive up costs. To safeguard the gains of the energy transition, we must reinforce international cooperation, secure open and resilient supply chains, and create stable policy and investment frameworks—especially in the Global South. 'The transition to renewables is irreversible, but its pace and fairness depend on the choices we make today.' "New renewable projects now cheaper than fossil fuel alternatives: IRENA report" was originally created and published by Energy Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
EQT Corp. (EQT) Falls Alongside NatGas Prices
We recently published . EQT Corp. (NYSE:EQT) is one of the biggest losers on Monday. Energy company EQT Corp. saw its share prices drop by 9.55 percent on Monday to close at $53.54 apiece as investor sentiment was weighed down by the continuous drop in natural gas prices. Based on data from Bloomberg, US natural gas futures were down by 0.03 percent $3.32/MMBtu, reversing some of last week's gains due to higher supply and weak demand from the cooling weather. Month-to-date, prices of natural gas prices are down by 3 percent, while year-to-date also marked a decline of 15.4 percent. Last week, EQT Corp. (NYSE:EQT) announced that its Board of Directors approved the distribution of $0.1575 cash dividends to shareholders as of August 6. The dividends will be payable on September 2, 2025. A storage facility for natural gas, showing the vast reserves of this abundant energy source. Additionally, EQT Corp. (NYSE:EQT) is set to announce the results of its second quarter earnings performance today, July 22, after market close. A conference call will follow on Wednesday, July 23, at 10 AM Eastern Time. While we acknowledge the potential of EQT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Carnarvon Energy to acquire up to 19.9% of Strike Energy for A$89m
Carnarvon Energy is set to make a strategic investment in Strike Energy, acquiring up to 19.9% of the company for A$89m ($58m), issued as fully paid ordinary shares. The investment aims to capitalise on Strike's extensive gas asset portfolio and Western Australia's growing energy market. The board of Carnarvon Energy has deemed the investment in Strike Energy as the most favourable outcome following a strategic review and extensive due diligence. Carnarvon's investment will take place in two tranches. The first tranche involves a A$52m investment for a 13% shareholding, to be completed within five business days of the announcement. The second tranche of up to A$37m for a final shareholding of up to 19.9% is contingent upon Strike shareholder approval at a general meeting scheduled for September 2025. Carnarvon chair Rob Black said: 'Carnarvon is excited to become the largest shareholder of Strike Energy. 'Following the Bedout JV Operator's recent decision to delay the Dorado Development, the Carnarvon Board has been assessing value accretive opportunities for shareholders. 'The Carnarvon Board believes the Strike investment represents an attractive opportunity for the company to help Strike unlock the value in its high-quality portfolio of Perth Basin assets on attractive terms, whilst retaining full exposure to its own assets in the Bedout Sub-basin. 'The Carnarvon team looks forward to working collaboratively with the Board andmanagement team of Strike to deliver value for both sets of shareholders.' With this strategic investment, Carnarvon secures board representation rights in Strike and maintains its strong balance sheet, with at least A$96m in cash and a $90m carry for the CPC Dorado project. The company has decided to halt the previously announced potential capital return in favour of this investment. The funds provided to Strike by Carnarvon will support several key projects including the South Erregulla 85MW gas-fired power station, the Walyering domestic gas project, the West Erregulla gas project and the development of other Perth Basin opportunities. Strike chair John Poynton said: 'We welcome Carnarvon as a strategic partner and Strike's largest shareholder. Strike has a unique asset base with significant potential and Carnarvon's investment provides the financial capacity and flexibility to realise this potential. 'Strike remains focused on executing is revised strategy and remains well placed to support Western Australia's energy transition through the development of its high-quality Perth Basin assets.' In another development, Strike Energy has reported exceptional production test results from the Erregulla Deep-1 well, showcasing high flow rates and pressures, which bodes well for the future of the West Erregulla project. "Carnarvon Energy to acquire up to 19.9% of Strike Energy for A$89m" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
