Latest news with #energySupply
Reuters
15 hours ago
- Business
- Reuters
Israel restarts limited gas exports amid ongoing conflict, Egypt still waiting
CAIRO, June 19 (Reuters) - Israel has resumed limited natural gas exports from surplus supplies, the country's Energy Ministry said on Thursday, nearly a week after shutting down two key offshore fields as Israel and Iran waged an air battle. A ministry spokesperson told Reuters that exports are now resuming "from surpluses, after domestic needs are met." An energy ministry source said most of the limited exported gas is currently flowing to Jordan, and only "tiny volumes" reached Egypt this week. Egyptian fertilizer producers, who were forced to halt operations due to the supply disruption, told Reuters they have yet to receive any gas but expect flows to resume next week. The Egyptian Petroleum Ministry did not immediately respond to a Reuters request for comment. Following military escalation in the region, Israel halted exports on June 13 after closing the Leviathan field, operated by Chevron and the Karish field operated by Energean. Only the Tamar field has remained operational, supplying mainly domestic demand. Israeli Energy Minister Eli Cohen said on Wednesday that exports would only resume once military authorities deemed it safe. "I don't want to use our strategic storage, so therefore, I needed to cut exports," he told Reuters. Egypt, which has increasingly relied on Israeli gas since a domestic production decline in 2022, is scrambling to compensate for the supply gap. The country has ramped up fuel oil use in power plants and has signed deals to import over $8 billion worth of liquefied natural gas, while preparing additional floating regasification units. Israeli gas typically accounts for up to 60% of Egypt's total gas imports and around a fifth of its total consumption, according to data from the Joint Organisations Data Initiative (JODI).
BBC News
4 days ago
- Automotive
- BBC News
Stafford factory's expansion expected to create 100 jobs
An energy component manufacturer has said the expansion of one of its factories is expected to create about 100 Vernova confirmed it would be doubling its transformer production capacity by expanding its site in will include a new transformer testing laboratory, which would help it to deliver "critical transformers for renewable energy transmission".The project was expected to create opportunities for apprentices, trainees, engineers, and manufacturing specialists, a company spokesperson said. Johan Bindele, the firm's vice president and CEO for grid systems integration, said the expansion further strengthened the company's manufacturing legacy in the UK."Just as importantly, it creates opportunities for highly-skilled workers who will help shape the future of energy infrastructure," he Minister Sarah Jones, who visited the site on Thursday, said the expansion would help to boost energy supply chains and create jobs."Upgrading the grid is critical to delivering homegrown clean energy to millions of homes, and this manufacturing facility will help make vital components to get more clean energy projects plugged in," she said. Follow BBC Stoke & Staffordshire on BBC Sounds, Facebook, X and Instagram.
Wall Street Journal
05-06-2025
- Business
- Wall Street Journal
Equinor Signs $27 Billion Deal With Centrica to Supply U.K. With Natural Gas
Equinor EQNR -0.40%decrease; red down pointing triangle signed a contract valued currently at around 20 billion pounds ($27.11 billion) to supply the U.K. with natural gas over the next decade. The agreement with U.K. energy company Centrica CNA 0.06%increase; green up pointing triangle, which owns British Gas, starts on Oct. 1 this year and its valuation is based on current prices, Equinor said. It would cover around 10% of the country's total annual gas demand.
Zawya
26-05-2025
- Business
- Zawya
Egypt: Badawi inaugurates TAQA Gas' station in New Valley Governorate
Arab Finance: Minister of Petroleum and Mineral Karim Badawi has inaugurated the main gas station, operated by TAQA Gas, which supplies El Kharga City in the New Valley Governorate, according to a statement. It provides gas supplies through a permanent pressure reduction station, a vehicle fueling station, and a car conversion center to natural gas. This project reflects the strong collaboration between the Ministry of Petroleum and Mineral Resources, the Egyptian General Petroleum Corporation (EGPC), New Valley Governorate, and the private sector. Reda Abdel Rahman, Deputy Managing Director of TAQA Gas, highlighted that the main station capacity stands at 2,500 standard cubic meters per hour (SCm³/h), which can be extended to 5,000 SCm³/h. Abdel Rahman added that 270,000 meters of medium and low-pressure pipelines have already been installed and supplied with natural gas. He noted that the number of residential clients connected in Phase 1 reached 5,750, with 8,300 more targeted in Phase 2. Additionally, six municipal bakeries were converted in the first phase, with 24 more targeted in the second phase. Meanwhile, the number of vehicles converted to operate on gas reached 409. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
14-05-2025
- Business
- Zawya
XRG expands gas portfolio through strategic partnership with Petronas in Turkmenistan
Partnership with PETRONAS reflects XRG's strategy to grow its international gas portfolio to meet demand Deal provides access to more than 7 trillion cubic feet of natural gas resources Abu Dhabi, UAE – XRG, PETRONAS and the Turkmenistan State Enterprise Hazarnebit have signed a new Production Sharing Contract (PSC) with the State Concern Turkmennebit for the offshore 'Block I' gas and condensate fields in Turkmenistan. As part of the transaction, XRG and PETRONAS signed a long-term Gas Sales Agreement (GSA) with State Concern Turkmengas. Under the terms of the PSC, PETRONAS will hold 57% participating interest as owner and operator, partnering with XRG (38%) and the Turkmenistan State Enterprise Hazarnebit holding the remaining 5%. Located in the Caspian Sea, Block I currently produces approximately 400 million cubic feet of natural gas per day. It offers significant long-term potential, with access to over 7 trillion cubic feet of natural gas resources and future opportunities for production capacity expansion. The collaboration will help to ensure energy supply stability while delivering sustainable growth and economic value, amid rising regional and global demand for natural gas. Mohamed Al Aryani, President, International Gas, XRG, said: "This agreement marks an important milestone in XRG's global growth strategy and builds on the strengthening relationship between the UAE and Turkmenistan. It strengthens XRG's presence in the Caspian region, expands our resource base, and reflects our ambition to be a reliable supplier of cleaner energy to meet the world's evolving needs. By deepening our partnership with PETRONAS, Hazarnebit, Turkmennebit, and Turkmengas, we are advancing energy security and economic development, while creating long-term value for all stakeholders." M Jukris Abdul Wahab, Executive Vice President and CEO Upstream PETRONAS said: 'As the first international operator in Turkmenistan's energy sector close to three decades ago, this milestone reinforces our presence and signifies our continued expansion in the Upstream sector. We are privileged to contribute to the ongoing advancement of the nation's energy industry and remain committed to fostering long-term partnerships with XRG, Hazarnebit, Turkmennebit and Turkmengas.' With this acquisition, XRG advances its strategy to build a diversified, transformative international energy investment company centered around three strategic pillars: gas, chemicals, and low-carbon energy solutions. The transaction expands XRG's footprint in Central Asia and reinforces its focus on delivering long-term impact globally. About XRG: XRG is a transformative international energy investment company, focused on lower-carbon energy and chemicals, and headquartered in Abu Dhabi. Wholly owned by ADNOC, XRG has an enterprise value of over $80 billion. Its portfolio includes interests in industry-leading companies that are meeting rapidly increasing global demand for lower carbon energy and the chemicals that are essential building blocks for products central to modern life.
