Kazakhstan’s National Atomic Company Kazatomprom has signed a contract for the supply of natural uranium concentrate with China National Uranium Corporation Limited (CNUC - a subsidiary of China National Nuclear Corporation).

Russia is counting on a planned new pipeline to China as it seeks to make up for lost gas sales in Europe, but industry insiders see major political risks around a project that is overly dependent on one buyer and question whether it will justify the huge costs.

China has ramped up coal output since the 2021 power crisis in order to avoid a repeat, with this year’s annual production set to notch another record. Demand growth has also been relatively subdued amid China’s bumpy economic recovery.

“Russian and Australian coal shipments are taking market share from China’s biggest exporter Indonesia this year,”

CNNC said the recent achievement “once again broke the operation record of China's nuclear fusion devices based on magnetic confinement, overcoming many technical challenges”. It added: “This milestone holds great importance in China's nuclear fusion energy development, signifying a crucial step forward in the research of high-performance nuclear fusion plasma operation.

The surge in new coal plant approvals, which began after power shortages last year, is raising questions about China’s commitment to that new role,

Saudi Arabia's crude shipment to China are averaging 1.9 million b/d in August, up from 1.3 million b/d a month earlier, while Russia inflows are at 1.38 million b/d, up on month from 1.36 million b/d, according to Kpler shipping data. Imports from Saudi Arabia were at a 12-month low of 1.33 million b/d in July, while Russian shipments dropped to 1.91 million b/d in the month, the lowest since April, China General Administration of Customs data showed.

Oil tabs remain steady after the cross of the $80/bbl price mark,as the Stock 600 Energy Complex paring gains of +1.01% standing at 113.42 at the European Open.

"Beijing has clearly stated that coal power will still grow at a 'reasonable pace' into 2030,"

In 2021, Russia pumped about 150 billion cubic meters of pipeline gas to Europe — more than enough to satisfy the combined annual consumption of Germany, France and Austria. Europe represented two-thirds of the country’s gas exports including flows of liquified natural gas.