Japan will continue participating in Russian liquefied natural gas (LNG) projects on Sakhalin Island due to their strategic importance for the country’s energy security,

Hindustan Petroleum Corp. Ltd. is building an 80,000 mt underground LPG rock cavern in Mangalore, which is expected to be operational by mid-2025, company and government officials said.

The Trump administration has argued coal is a vital part of the mix to ensure sufficient energy supply to meet booming demand for AI data centers. The carve-out, which begins in July 2027, lasts until July 2029, according to the proclamation.

Japan, South Korea and Taiwan have all said they are considering investments in a long-delayed $44 billion LNG export project in Alaska backed by Trump.

Despite a strong start to the solar season in Europe, and record amounts of cheap new renewable capacity in Germany since the energy crisis, it’s natural gas that will increasingly decide how much households and factories in Europe’s biggest economy pay for electricity.

EU countries are expected to add 89 gigawatts of new renewable energy capacity in 2025, including 70GW of solar and 19GW of wind, according to Commission projections shared with Reuters. The projections are based on industry data.

The growth of renewable power generation - including wind, hydro and solar - in the global electricity mix in 2024 beat the previous year's 30% record

The IEA projects power demand from data centers to double by 2030. While renewable energy capacity is also set to increase, especially in Europe, the intermittent supplies provided by wind and solar won’t be sufficient.

China has announced the start of construction on three offshore wind projects totalling 3 GW off the coast of the Guangdong Province, southern China, namely the Fanshi-1, Qingzhou-5 and Qingzhou-7 projects.

Brent lost $2.38, or 3.79%, to $60.44 a barrel, WTI fell $2.46, or 4.13%, to $57.12.