Category: Gas

China signs $60 billion LNG deal with Qatar – one of biggest deals ever for the highly coveted fuel

LNG tanker at a terminal in China. VCG/Getty Images China signed a deal to safe liquefied pure fuel flows from Qatar on Monday.  The settlement is price $60 billion and is one of the largest deals for LNG to this point.  China will obtain roughly 4 million tons yearly of LNG from Qatar beginning in 2026.  China reached a $60 billion settlement with Qatar on…

Tankers filled with dirty Russian oil are piling up around Asian ports ahead of fresh EU sanctions

Getty Images Tankers carrying Russian oil have settled at ports near Malaysia and Singapore ahead of the next round of EU sanctions.  Roughly 1.1 million tons of high-sulfur fuel oil was sitting on vessels for the week ending October 24. New European Union sanctions will ban insurance on tankers holding Russian oil starting December 5.  Tankers carrying Russian oil have settled at ports near Malaysia…

Saudi Aramco says its energy transition is not delivering and launches a $1.5 billion fund for a more ‘realistic’ plan

Getty Images Saudi Arabia’s state-run oil giant is investing $1.5 billion in a new energy transition plan.  Saudi Aramco’s CEO Amin Nasser said the current framework is “flawed.” The Kingdom has cautioned that the transition could take decades.  Saudi Arabia’s state-run oil giant is investing $1.5 billion in a global energy transition, while cautioning that alternative sources aren’t yet capable of handling demand.  Saudi Aramco…

China could be set for even more Russian gas as Gazprom begins testing a key supply hub to reroute energy...

Russia’s President Vladimir Putin and China’s President Xi Jinping. REUTERS/Carlos Barria Russia’s state-run Gazprom said Tuesday it is testing gas supplies in Kovykta, a key hub in east Siberia, per Reuters.  Those supplies would head to China and continue Moscow’s efforts to reroute flows from Europe. According to the report, Gazprom said Kovykta and new gas transport operations are set to come online in December….

A secretive fleet of ships is poised to move Russian oil under the radar after EU sanctions kick in

Asian countries have been buying more Russian oil. SONGPHOL THESAKIT/Getty Images A secret fleet of Russian ships could be assembled to help the Kremlin avoid sanctions, Bloomberg reported.  The report says a fleet is being built to keep Russian flows on the market.  Ensuing sanctions would also increase ship-to-ship transfers, the report says.  A growing fleet of ships could help Russia circumvent forthcoming sanctions targeting…