Europe & UK Faces Energy Turmoil: Soaring Prices and Middle East’s Potential Role
Europe and the UK are grappling with escalating energy challenges as surging gas prices and concerns over renewable energy development dominate the agenda. In Europe, natural gas prices have surged to a one-year high of over €50/MWh, driven by colder-than-average weather, production outages, and below-average storage levels. EU gas storage is 71.8% full, falling short […]
North Africa Powers Up: Wind, Gas, and Green Hydrogen Lead the Charge!
North Africa is harnessing its diverse energy resources to tackle growing global demand, expand exports, and secure a sustainable future. Major projects across the region are redefining its role as a global energy hub. Egypt Takes Wind Energy to New Heights Egypt is propelling its renewable energy sector forward with the 10 GW […]
Africa sees $47 billion surge in oil and gas investment
In a significant boost to Africa’s energy sector, capital expenditure (capex) on oil and gas projects has reached an impressive $47 billion in 2024, marking a 23% increase compared to last year. This sharp rise highlights the growing interest of energy majors in Africa’s vast untapped resources and underscores the continent’s emergence as a global […]
Big Oil Bets on LNG: No More Wind and Solar?
The global energy landscape is shifting as natural gas takes center stage, driving both sustainable energy solutions and reliable power supply. Industry giants Chevron and Exxon are scaling back their investments in renewable energy projects like wind and solar, turning their focus toward gas-fired power generation. This shift aligns with the rising demand for uninterrupted […]
India’s Gas Demand Climbs as Fertilizers Dominate
LNG Imports Rise as Domestic Gas Production Declines: Shifting Energy Trends in India India’s natural gas consumption reached 6019 million standard cubic meters (MMSCM) in October 2024, reflecting the growing energy demands of its industrial and urban sectors. The fertilizer sector emerged as the largest consumer, accounting for 29% of the total usage, followed by […]
Global Energy Markets Struggle Amid Gas Price Surges, Supply Disruptions, and OPEC+ Uncertainty
European natural gas prices have jumped nearly 45% this year, driven by cold weather forecasts and U.S. sanctions on Gazprombank, a key Russian financial entity. Northwest Europe is experiencing its first notably cold winter since 2021, with temperatures below the 30-year average, causing gas inventories to drop to 87.7% of capacity. LNG (liquefied natural gas) […]
