logo
Tokyo Gas executive: no impact expected on LNG buying from Iran-Israel conflict

Tokyo Gas executive: no impact expected on LNG buying from Iran-Israel conflict

CNA3 days ago

TOKYO :Japan's biggest city-gas supplier Tokyo Gas expects no direct impact on its liquefied natural gas (LNG) procurement from the Iran-Israel conflict, but its is closely monitoring developments as it could influence oil-linked and spot LNG prices, a company executive said on Wednesday.
The Japanese utility may increase U.S. LNG procurement as it is seen as an attractive supply source, Nobuhiro Sugesawa, senior managing executive officer, told Reuters on the sidelines of the Japan Energy Summit conference.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Oil prices settle lower as US sanctions ease fears of escalation in Iran
Oil prices settle lower as US sanctions ease fears of escalation in Iran

CNA

time7 hours ago

  • CNA

Oil prices settle lower as US sanctions ease fears of escalation in Iran

HOUSTON :Oil prices settled down on Friday as the U.S. imposed new Iran-related sanctions, marking a diplomatic approach that fed hopes of a negotiated agreement, a day after President Donald Trump said he might take two weeks to decide U.S. involvement in the Israel-Iran conflict. Brent crude futures settled down $1.84, or 2.33 per cent, to $77.01 a barrel. U.S. West Texas Intermediate crude for July - which did not settle on Thursday as it was a U.S. holiday and expires on Friday - was down 21 cents, or 0.28 per cent, at $74.93. The more liquid August contract settled at $73.84. Brent rose 3.6 per cent on the week, while front-month U.S. crude futures increased 2.7 per cent. The Trump administration issued fresh Iran-related sanctions, including on two entities based in Hong Kong, and counter-terrorism-related sanctions, according to a notice posted to the U.S. Treasury Department website. The sanctions target at least 20 entities, five individuals and three vessels, according to Treasury's Office of Foreign Asset Control. "Those sanctions are cutting both ways. They may be part of a broader negotiation approach towards Iran. The fact they are undertaking this is a signal they are trying to resolve this outside of conflict," said John Kilduff, partner at Again Capital in New York. Oil prices jumped almost 3 per cent on Thursday after Israel bombed nuclear targets in Iran, while Iran - OPEC's third-largest producer - fired missiles and drones at Israel. Neither side showed any sign of backing down in the week-old war. Brent prices retreated after the White House said Trump would decide whether the United States would get involved in the Israel-Iran conflict in the next two weeks. 'Although a major escalation is yet to occur, risks to supply from the region remain high, still hinging upon the potential for U.S. involvement,' said Russell Shor, senior market analyst at Israel's UN ambassador said Israel seeks genuine efforts on Iran's nuclear capabilities from Friday's meeting between European and Iranian ministers, not just another round of talks. "However, while Israel and Iran carry on pounding away at each other, there can always be an unintended action that escalates the conflict and touches upon oil infrastructure," PVM analyst John Evans said. Iran in the past has threatened to close the Strait of Hormuz, a vital route for Middle East oil exports. Oil exports so far have not been disrupted and there is no shortage of supply, said Giovanni Staunovo, an analyst at UBS. "The direction of oil prices from here will depend on whether there are supply disruptions," he said. An escalation of the conflict in such a way that Israel attacks export infrastructure or Iran disrupts shipping through the strait could lead to oil at $100 a barrel being a reality, said Panmure Liberum analyst Ashley Kelty. Elsewhere, the EU has abandoned its proposal to lower the price cap on Russian oil to $45, Bloomberg reported. U.S. energy firms this week cut the number of oil and natural gas rigs operating for an eighth week in a row for the first time since September 2023, energy services firm Baker Hughes said in its closely followed report. The oil and gas rig count, an early indicator of future output, fell by one to 554 in the week to June 20, the lowest since November 2021.

Insurer Aflac investigating possible data leak after cyberattack
Insurer Aflac investigating possible data leak after cyberattack

CNA

time8 hours ago

  • CNA

Insurer Aflac investigating possible data leak after cyberattack

Health and life insurer Aflac on Friday said it is investigating a breach on its U.S. network that may have exposed customers' personal information, making it the latest insurance provider to be targeted in a cyberattack. Aflac said the attack was identified on June 12 and carried out by a sophisticated cybercrime group. An Aflac spokesperson told Reuters that the characteristics of the incident were consistent with Scattered Spider, a hacking group that has been around since May 2022 and has a reputation for targeting multiple companies in a single industry in waves. Earlier this week, Google's chief threat analyst warned the insurance industry to be on high alert from attacks from Scattered Spider. The group is also reportedly behind recent outages at Philadelphia Insurance Companies (PHLY) and Erie Indemnity. The group's specialty is identity-based tactics through methods like scamming help desks to reset credentials and bypassing multi-factor authentication, said Steve Cagle, CEO at healthcare security firm Clearwater. The Aflac spokesperson said the company's review of the attack was in early stages and it cannot disclose how many customers were affected or how long the investigation would take. The company offers accident and pet insurance plans in the U.S. and Japan and manages personal, medical and financial data of more than 50 million policyholders. The attack potentially impacted files containing personal information of Aflac's customers, such as social security numbers and health-related details. The insurer said it was able to stop the intrusion within hours and has reached out to third-party cybersecurity experts to investigate the incident. The company added that it can continue to provide its services as usual while it responds to the security breach.

Russia's Rosatom to explore construction of high-capacity nuclear plant in Uzbekistan
Russia's Rosatom to explore construction of high-capacity nuclear plant in Uzbekistan

CNA

time9 hours ago

  • CNA

Russia's Rosatom to explore construction of high-capacity nuclear plant in Uzbekistan

ST. PETERSBURG, Russia :Russia's state nuclear corporation Rosatom signed an agreement on Friday with Uzbekistan's atomic energy agency to study the feasibility of building a large-capacity nuclear power plant in the Central Asian country. Rosatom, which signed the agreement with the Uzbek government at the St. Petersburg International Economic Forum, already has plans to construct smaller nuclear units in Uzbekistan. The Russian energy company was also tapped over the weekend by the government of Kazakhstan to lead a consortium to build the first nuclear power plant there. There are currently no nuclear power plants in any of the five ex-Soviet Central Asian republics, although Uzbekistan and its neighbour Kazakhstan, both uranium producers, have long said their growing economies need them. The Uzbekistan plant will employ two Russian-designed VVER-1000 reactors, with the possibility to scale up to four. Last May, Russian President Vladimir Putin and Uzbek President Shavkat Mirziyoyev agreed on a deal for Rosatom to construct smaller-capacity plants with a capacity of 55 megawatts each in Uzbekistan. On Friday, Rosatom head Alexei Likhachev said Rosatom was discussing building two low-power and two high-power nuclear units in Uzbekistan. "The small modular nuclear power plant in Uzbekistan is the first export product of modern small power plants on the planet," Likhachev told reporters in St. Petersburg. He said the plants would help Uzbekistan respond to its growing electricity needs. He also told journalists the firm had approved a preliminary roadmap with Kazakhstan for two units there using Russian-made VVER-1200 reactors.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store