The first week back after the holidays brought a little sadness, with the passing of iconic US President Jimmy Carter whose humanitarian efforts through his 100 years earned him worldwide respect and acclaim.
As for current US presidents — both outgoing and incoming — the gloves were off and no festive spirit of "peace on earth and mercy mild" prevailed: President Joe Biden issued a wide block to further oil and gas drilling in a move that's hard to unwind because of the federal provision it's couched in.
President-elect Donald Trump promptly said he would withdraw the order the moment he takes up office. The incident resonated with campaign promises to immediately approve approve LNG export terminals on his very first day back in office.
But as Gas Matters Today reported, that may not be the best idea for the sector. Legal experts stateside reminded us that US law still requires authorisations. This means procedurally, a formal proceeding for authorisation needs to take place in relation to projects awaiting approval.
The Biden LNG study has been published, naming projects awaiting approval, meaning the study is on their record. As a result, the study will have to be reckoned with, regardless of whether the incoming administration wants to or not.
In Europe, the weather pushed gas storage levels down while prices jumped, with even the UK having to turn up gas-fired plants to ensure supply continued.
Meanwhile, it emerged that Russian LNG imports to Europe could continue to rise. Currently, every one in five LNG cargoes to the EU is of Russian origin.
Shell has already warned that lower LNG production and weaker trading profit is set to weigh on its Q4’24 results — watch this space for other energy majors' flagging issues ahead of results season.
In the UK, 25 companies were named as beneficiaries to a government grant of around GBP 52 million to help decarbonise their operations.
Further afield, ADNOC Gas announced contracts worth USD 2.1 billion to build out supply infrastructure for Ruwais LNG.
Take a look at the top developments that made news in the last five days:
Biden administration confirms drilling ban across 625 million acres of US ocean
What is driving Russian LNG imports to Europe?
Hokkaido Gas considers new LNG import terminal in northern Japan
Lower LNG production, weaker trading profit to weigh on Shell’s Q4’24 results
Poland’s Orlen reveals $91bn investment to boost gas, renewables
UK awards £52m to decarbonise businesses
ADNOC Gas awards $2.1bn in contracts to build out Ruwais LNG supply infrastructure
Why a hasty green light on LNG export approvals may threaten US projects
Uniper buys rights to develop gas-fired power plant with CCS in UK
Britain turned up costly gas-fired plants as the power system came under stress — here's why
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